Serving for more than 40 years, Matsock & Associates offers individualised and comprehensive plans, earning over $2m in annualised revenues
AssuredPartners acquires Illinois-based agency. (Credit: AssuredPartners.)
AssuredPartners, a Florida-based insurance brokerage business, has announced the acquisition of John J. Matsock & Associates (Matsock & Associates), based in Naperville, Illinois, for an undisclosed amount.
Established more than 40 years ago, Matsock is a full-service, insurance agency that specialises in offering individualised and comprehensive plans for its clients. With more than $2m in annualised revenues, the firm has license to conduct business in 48 states in the US.
Matsock & Associates has a team of eight people, which will now report to AssuredPartners in Illinois, under the leadership of the firm’s agency president Bill Hayes.
Matsock & Associates is licensed to conduct business in 48 states
Matsock & Associates president Steve Monteith said: “Specialising in the insurance and financial planning needs of our many customers nationwide for more than 40 years, Matsock & Associates has created a team that values relationships, technology and industry knowledge – all combined to offer the products and services that specifically address our clients’ unique businesses.”
Matsock & Associates vice president and partner Frank Haywood said: “The decision to join AssuredPartners will further align with our history and ability to continue our core values through our newfound partnership and the belief in Power through Partnership.”
“AssuredPartners is pleased to have extended our operations in Illinois with the addition of the experienced staff and great clientele in the Naperville community. Enhancing our capabilities and client offerings will allow for an expansion in this changing landscape.” said AssuredPartners of Illinois, Agency President, Bill Hayes.
AssuredPartners president and chief operating officer Tom Riley said: “At AssuredPartners we’re not just in the insurance business, we are in the business of developing strong, lasting relationships. With this acquisition, we have gained an organization whose vision and values align strongly with what AssuredPartners stands for. We are thrilled to have them on our team.”
Last month, the Florida-based insurance agency entered into an agreement to acquire People’s United Insurance Agency (PUIA), from its parent company People’s United Bank. The deal is expected to close in the fourth quarter of this year, subject to customary closing conditions.
PUIA is an insurance brokerage and has been providing commercial and personal, as well as employee benefit insurance solutions for more than a hundred years.