IMA unit buys wholesale insurance brokerage

An IMA Financial Group Inc. unit said Wednesday it has acquired Professional Lines Underwriting Specialists Inc., an Austin, Texas-based wholesale insurance brokerage that specializes in management and professional liability.

The announcement was made by Towerstone, the Dallas-based wholesale division of IMA. Financial terms were not disclosed.

PLUS will operate as a specialty division of Towerstone, with its eight employees continuing to operate out of the company’s Austin office, Towerstone said.

Denver-based IMA announced in April that it would acquire Pasadena, California-based brokerage Bolton & Co., in a deal that could see it move into the top 20 brokers in the United States.