High Street Insurance Partners has acquired the assets of Tompkins Insurance Agency, which offers specialised business and personal insurance throughout Michigan.
Image: Tompkins Insurance Agency acquired by High Street Insurance. Photo: courtesy of rawpixel/Pixabay.
The financial terms of the acquisition were not disclosed by High Street Insurance, which is the ExecFactor commercial and personal insurance platform of Huron Capital. ExecFactor is Huron Capital’s executive-led market entry programme.
The employees of Tompkins Insurance Agency will report to KorthaseFlinn Insurance & Financial Services president Randy Flinn. KorthaseFlinn is an independent insurance and financial services firm, which was acquired by High Street Insurance in May 2019.
Based in Michigan, KorthaseFlinn is engaged in providing employee benefits, financial and personal insurance solutions. The company is said to cater to over 10,000 clients across the Midwest and was acquired by High Street Insurance in a move to deepen its regional footprint in northern Michigan.
KorthaseFlinn’s team of professionals, operating across four offices, help in solving risk management problems of clients and help them protect and accumulate their assets.
Headquartered in Michigan as well, High Street Insurance offers specialty commercial property and casualty insurance, employee benefits services and personal lines to a variety of industries.
The company, which was formed in 2018 by Huron Capital, has a buy-and-build strategy to make add-on acquisitions in the insurance agency market.
Prior to the transactions with Tompkins Insurance Agency, and KorthaseFlinn, High Street Insurance made three other acquisitions.
In November 2018, the company acquired The DJB Group for an undisclosed price. The DJB Group provides employee benefits solutions across Pennsylvania, Ohio, and West Virginia.
Last August, High Street Insurance acquired Michigan-based Peterson McGregor & Associates, which provides business, personal insurance solutions, and employee benefits.
The company is said to distinguish itself through the specialisation of its practice groups. It claims to leverage the combined expertise of its partners to offer customised solutions to its clients.
High Street Insurance claims that by aligning industry expertise with insurance products and services expertise, customer experience is significantly enhanced while giving agency partners the scope to grow further and expand with their customer base.