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California broker acquires benefits consulting firm


Insurance broker Edgewood Partners Insurance Center has acquired Los Angeles-based employee benefits consulting firm Executive Financial Inc.

Executive Financial, founded in 1995 by Peter Lizotte, specializes in executive benefits and life and disability insurance strategies, San Francisco-based EPIC said Monday in a statement.

Mr. Lizotte confirmed in an email that terms of the transaction were not released.

“Peter and his team have built a terrific firm and practice,” said Jim Gillette, EPIC managing principal in the Southern California region, in a statement.

“As a part of EPIC, we now have access to best-in-class compliance, communication and wellness services, not only to support our existing clients but also to successfully compete for new business,” Mr. Lizotte said in the statement. “Additionally, we are very excited about the opportunity to significantly expand our proprietary executive disability income and life insurance programs under the EPIC brand.”

The acquisition of Executive Financial is EPIC's second in less than a week. It announced on May 12 that it had acquired Sorci Insurance Brokerage Inc., a specialist in providing comprehensive workers compensation insurance services to California new car auto dealers.

EPIC is the 44th-largest broker of U.S. business, according to Business Insurance's latest ranking.

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