Alera acquires Tennessee agency

Alera Group said Wednesday it has acquired Cate-Russell Insurance, a Maryville, Tennessee-based agency that places commercial, personal and employee benefits insurance.

The acquisition was made through Propel Insurance, which Alera acquired in September 2021.

Cate-Russell Insurance, with about 25 employees, will become a division of Propel, Alera said.

Deerfield, Illinois-based Alera is the 17th largest broker of U.S. business, according to the latest Business Insurance rankings, with 2020 revenue of $554 million.