AssuredPartners buys California agency

AssuredPartners Inc. has bought San Diego-based agency Wateridge Insurance Services Inc., the brokerage announced Thursday.

Wateridge reports $12 million in annual revenue, Lake Mary, Florida-based AssuredPartners said in a statement. Its 67 staff “will remain under the operational leadership of Jeff Byroads, John Clanton and John Dorris,” the statement said.

Wateridge, which has an additional office in Sacramento, California, places commercial insurance, personal lines coverage and employee benefits business.

AssuredPartners, which was the third most acquisitive brokerage in the United States and Canada last year, according to Optis Partners LLC, is the 12th largest broker of U.S. business, according to Business Insurance’s most recent ranking.