AssuredPartners buys more aviation insurance agencies

AssuredPartners Inc. continued its push into the general aviation insurance brokerage market this week with the purchase of three more aviation insurance agencies.

The Lake Mary, Florida-based brokerage on Monday announced the purchase of Airpower Insurance LLC in Phoenix, AirSouth Insurance Inc. in Dothan, Alabama, and Weber Insurance Services Inc. in Eden Prairie, Minnesota.

The three agencies have combined annual revenue of $2.2 million, AssuredPartners said in a statement.

The announcement follows AssuredPartners’ purchase of two other aviation agencies and the recruitment of Jon Downey as president of its aerospace unit last fall. Mr. Downey previously worked at AirSouth.

Private equity-owned AssuredPartners has grown rapidly via acquisition since it was founded in 2011. It is the 12th-largest broker of U.S. business, according to Business Insurance’s latest ranking.