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Alera Group Inc. on Tuesday said it has acquired Orion Risk Management Insurance Services Inc., a Newport Beach, California-based brokerage.
Terms of the transactions were not disclosed.
Orion was founded in 2001 and has three locations in Southern California, Alera said in a statement.
The senior leadership at Orion will be staying and the company will continue to operate under the Orion name, a spokesman confirmed in an email, adding that Alera doesn’t share revenue or employee numbers.
“We are thrilled to welcome Orion to Alera Group, and we look forward to their valuable contributions to our collaborative culture,” said Alan Levitz, CEO. “Their remarkable industry experience and powerful team strengthens both our property/casualty practice and our benefits practice.”
“As an Alera Group company, we look forward to further elevating the client experience with the national resources that are now available to us,” said Clifford Davis, managing partner of Orion, said in the statement.
Alera is an acquisitive brokerage group that formed in early 2017. It is the 24th-largest brokerage of U.S. business, according to Business Insurance’s latest ranking. The firm made 18 acquisitions in 2017.
Deerfield, Illinois-based insurance brokerage and wealth management firm Alera Group said Monday it acquired Spring Consulting Group L.L.C., a Boston-based employee benefits, risk management and captive consultant, effective Feb. 1.