Artisan Insurance Group, which was established in 2001 by Richard Vazquez, is a property and casualty (P&C) insurance agency
Plexus Groupe acquires Artisan Insurance Group. (Credit: Gerd Altmann from Pixabay)
US insurance broker Plexus Groupe has acquired Artisan Insurance Group, based in Brandon, Florida for an undisclosed price.
The deal follows the acquisition of Florida-based Community Insurance Group by Plexus Groupe earlier this week.
Artisan Insurance Group, which was established in 2001 by Richard Vazquez, is a property and casualty (P&C) insurance agency. The company serves central Florida with health insurance, homeowner insurance, business insurance, and life insurance.
Richard Vazquez will continue to be on board and will handle the integration and management of the enlarged Tampa Plexus operations. All associates at Artisan Insurance Group are said to have accepted roles with Plexus.
Artisan Insurance Group president comments on the transaction
Artisan Insurance Group president Richard Vazquez said: “After founding Artisan in 2001, I decided it was time to find a partner that could provide the capital and resources necessary to take the agency to the next level.
“After evaluating several qualified buyers, I was drawn to Plexus’ commitment to growth and for the opportunity to partner with Bill Puckett and his team at Community.”
Headquartered in Illinois, Plexus offers solutions in employee benefits, property and casualty insurance, personal lines insurance, corporate retirement plans, benefits technology services, and mergers and acquisitions.
Plexus CEO Walter Fawcett, III said: “As Plexus continues our national expansion through M&A, we were very fortunate to find another quality firm less than 3 miles from our first partnership in Florida.
“We are excited about combining the two Tampa agencies and offering an expanded range of products to their customers. We welcome Richard and all Artisan associates to the Plexus family.”
The earlier acquisition of Community Insurance Group, also based in Brandon, marked the foray of Plexus into the Florida market. Founded in 2004, Community Insurance Group specialises in insurance for homeowners associations throughout Florida.