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Alera Group announced Wednesday it has acquired Utah-based brokerage Banasky Insurance Inc.
Terms of the transaction, which became effective Aug. 1, were not disclosed.
Banasky has locations in Price and Draper, Utah, and specializes in builder’s risk and commercial fleet coverages, Alera said in a statement. The brokerage has approximately 25 employees, who will continue serving clients in their existing roles, the statement said.
The deal gives Deerfield, Illinois-based Alera Group its first locations in Utah and will allow for “collaboration opportunities” in the region, CEO Alan Levitz said in the statement.
Alera Group is the 17th-largest brokerage in the world, according to Business Insurance’s most recent ranking.