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Insurance broker Prime Risk Partners Inc., Atlanta, has purchased Cook Maran & Associates Inc., an insurance agency with offices in New York and New Jersey.
Financial details of the transaction were not disclosed.
The merger will allow Cook Maran to gain liquidity while also providing the financial resources for continued growth, its chairman and CEO, Len Scioscia, said in a statement.
Cook Maran will remain in operation under its current name. Its offices will also stay in place.
Cook Maran is the 85th-largest broker of U.S. business, according to Business Insurance’s latest ranking.
Chicago-based Hub International Ltd. has acquired the assets of Washington-based Lovsted-Worthington Insurance as well as the assets of New Mexico-based Shofner, Lynch & Shulse L.L.C.