Cypress Insurance is an insurance agency that offers commercial auto and property, public entity, and workers compensation insurance services in the US
AssuredPartners acquires Cypress Insurance. (Credit: Adam Radosavljevic from Pixabay.)
Insurance brokerage firm AssuredPartners has acquired Fort Lauderdale, Florida-based Insurance agency Cypress Insurance for an undisclosed amount.
Cypress Insurance is an insurance agency that offers commercial auto and property, public entity, and workers compensation insurance services in the US. The insurance agency currently generates $3m in annualised revenues.
Established in 2011, AssuredPartners has been acquiring and investing in insurance brokerage businesses, including property and casualty, employee benefits, surety and MGU’s, through its 180 offices across the US and in England. The company has more than $1.5bn in annualised revenue.
AssuredPartners president and COO Tom Riley said: “We work hard to build trusting relationships with our clients and when we find an agency that already has a solid foundation with their community, we know it is a good fit. We are pleased to have the team at Cypress Insurance Group join AssuredPartners.”
AssuredPartners regional president Jack Suber said: “We are excited about Cypress Insurance Group joining AssuredPartners as our values, services and resources align and are poised for future growth. We are pleased to expand further in the Florida marketplace with our new partners. We welcome the employees and clients to AssuredPartners.”
Terry Bond and Debbie Arciola from Cypress Insurance will lead a team of 20 people
Under the terms of the transaction agreement, a team of 20 people will operate under the leadership of Terry Bond and Debbie Arciola from Cypress Insurance.
Terry Bond said: “Since 1978 we have provided the community of South Florida with our insurance expertise. Our dedication to our clients and employees led us to join one of the largest insurance brokerage agencies in the country and we are truly excited to partner with AssuredPartners.”
Debbie Arciola said: “We are proud to continue the legacy that Roger Bond started when he formed Cypress Insurance Group. We are dedicated to delivering exceptional service for our valued customers and we’re excited to join the growing team in the Florida marketplace of AssuredPartners.”