US-based retail property, casualty insurance brokerage, employee benefits consultant ABD Insurance and Financial Services has acquired the assets of Northern California’s Insurance Associates.
Further details of the transaction have not been disclosed.
Commenting on the acquisition, ABD president and co-chairman Kurt de Grosz said, "The addition of Alan Sampson and Pat Hoefling and the Insurance Associates team is an exciting way to expand ABD’s footprint in the East Bay."
Founded in 1904 and incorporated in 1961, Insurance Associates focuses on the design and oversight of risk management and insurance programs for a varied group of commercial and personal clients.
ABD CEO Brian Hetherington stated the company has the opportunity to grow its business portfolio in all areas of risk management, including commercial insurance and employee benefits.
Headquartered in San Mateo, and managing offices in San Francisco, Redwood City and San Jose, ABD has more than 115 professionals and provides consulting services.