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WEST ORANGE, N.J.—Mid-market broker AssuredPartners Inc. has finalized its acquisition of West Orange, N.J.-based Herbert L. Jamison & Co. and Jamison Special Risk Inc. as well as London-based Grosvenor Brokers (America) L.L.C.
In a statement released Friday, AssuredPartners described the Jamison firms together as a full-service insurance brokerage with “significant expertise” in professional liability insurance. Grosvenor is engaged in direct retail brokerage, domestic, and international wholesale and specialty programs, the Lake Mary, Fla.-based broker said.
“We are excited to have Jamison and Grosvenor join our team as we strive to build AssuredPartners into the premier middle-market insurance brokerage,” Jim Henderson, CEO of AssuredPartners, said in a statement. “With well-developed technical expertise and diverse distribution capabilities, these additions will help us provide our clients valuable insurance solutions.”
The price of the acquisitions was not disclosed.
AssuredPartners said both Jamison and Grosvenor would continue to operate under their current names at their current locations.
LAKE MARY, Fla.—A recent acquisition of a regional broker aiming to expand its reach nationally could signal renewed interest by private equity firms in buying intermediaries.