AssuredPartners, through its newly formed operation AssuredPartners of West Virginia, has completed the takeover of Commercial Insurance Services, as part of plans to further reinforce its position in the region.
The acquisition of Commercial Insurance Services marks the first platform transaction for AssuredPartners in West Virginia, and is the second deal for AssuredPartners in 2014.
Established in 1932, Commercial Insurance Services specializes in commercial insurance, employee benefits services, workers’ compensation insurance, risk management, claims management, and personal insurance.
Commercial Insurance Services CEO Frank Baer said, "Aligning our practice with a national agency allows us to better serve our clients through access to an increased number of insurance products and services offerings."
Under the terms of the deal, 45 Commercial Insurance Services employees will join AssuredPartners of West Virginia.
The acquired entity will remain operating from its existing Commercial Insurance Services locations in Charleston and Morgantown, under the local leadership of Frank Baer and Raye King White.
Post-acquisition, Commercial Insurance Services will operate as the seventh AssuredPartners platform entity.
AssuredPartners president and COO Tom Riley commented, "Their impressive business acumen, reputation and market footprint all fit with the AssuredPartners desired partner attributes, and this deal will help us grow the AssuredPartners presence in West Virginia."