Alliant Insurance buys benefits brokerage Sagewell

Newport Beach, Calif.-based broker Alliant Insurance Services Inc. has acquired Sagewell Partners, a Pittsburgh-based firm that specializes in disability and life group benefit plans, absence management solutions and human resources consulting for large and midsize employers.

Terms of the deal, announced Tuesday, were not disclosed.

Sagewell CEO David Osterhaus will serve as executive vice president and managing director of Alliant.

Also joining Alliant will be the rest of Sagewell's executive team — Robert Holland and Richard Fennell, both executive vice presidents — and Sagewell's client services and business development teams.

Sagewell companies ranging from less than 500 employees to more than 50,000 employees, the company said in a statement.

Alliant was the 12th-largest brokerage of U.S. business, according to Business Insurance's latest ranking.