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Broker acquires independent agency


Brokerage and risk management firm Oswald Cos. has acquired The Hoffman Group, Cleveland-based Oswald said in a Monday statement.

The terms of the deal were not disclosed.

The Hoffman Group is a Cleveland-based independent insurance agency.

Hoffman will continue to offer commercial property & casualty and personal insurance, and will expand its offerings to include employee benefits, retirement plan services, and life insurance. Hoffman’s employees are now employee-owners of Oswald and will operate out of offices in Cleveland and Medina, Ohio. Hoffman will operate under the name The Hoffman Group, an Oswald company with plans to take on the Oswald name in 2017, an Oswald spokeswoman said in an emailed statement.

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