Insential, a Dallas-based full-service wholesale agency, has acquired Source One Benefits, a Chicago-based wholesale general agent of ancillary benefits.
According to Insential, with this acquisition it will launch a new Ancillary benefits division. The retail agency partners of Insential will have immediate access to ancillary group products, which will help round out their product offerings for their clients.
Source One currently manages a significant premium volume with the major insurance carriers in this segment. This extensive block of business provides Source One with access to the company’s top underwriters as a preferred partner and gives their customers the advantage of getting better product rate with maximum revenue potential for the agency, said Insential.
Darwin Lucas, president of Insential, said: “The services offered by Source One can allow for one-stop shopping for all ancillary benefit coverage needs of our agency partners and their clients. Our plan is to expand this division nationally, and bring cross selling opportunities to our existing property and casualty retail partners.”