Alera buys Massachusetts brokerage

Alera Group has acquired Dartmouth, Massachusetts-based broker Sylvia Group, Alera said in a statement Thursday.

Terms of the transaction were not disclosed.

Sylvia Group, which was founded in 1950 and has about 40 employees, provides commercial insurance for various organizations, including nonprofits and startups, the statement said. In addition, it offers employee benefits, personal lines and financial planning services.

The broker’s employees will remain with the firm at its existing location under the name Sylvia Group, an Alera Group Company LLC, the statement said.

Deerfield, Illinois-based Alera is the 17th largest broker of U.S business, according to the most recent rankings from Business Insurance.