The deal between the two firms is effective as of January 1 and is Insgroup's second announced deal in the DFW Metroplex in the past twelve months
Rapidly-growing Insgroup makes second Dallas acquisition. (Credit: Tumisu from Pixabay)
Houston, Texas based Insgroup, Inc. (“Insgroup”), Texas’ largest closely-held property/casualty insurance broker, is expanding its footprint again through the acquisition of substantially all of the assets of the well-established Harris F Underwood III, Inc. (“HFU”) in Dallas. The deal between the two firms is effective as of January 1 and is Insgroup’s second announced deal in the DFW Metroplex in the past twelve months.
HFU has been passionately serving the needs of commercial and private clients in the DFW area for more than 40 years, and has earned a strong reputation for client advocacy under the leadership of Chris Hill, co-founder, and Cash Harbaugh, President.
Insgroup’s President and CEO, Brian Kapiloff, said “We’ve been searching for the right partner to help us expand our commercial insurance practice in the DFW market for quite some time. We believe Cash and Chris share our core values and vision for the future, and we’re excited to work with them and their team to grow our presence in Dallas.”
“HFU’s focus on serving the insurance needs of Commercial Real Estate owners and managers is a natural fit for our large Real Estate practice. In addition to growing our Real Estate book of business and helping us push into the DFW market in this niche, we will use HFU’s office as a launching pad for growth in DFW in other verticals including construction, manufacturing, transportation, financial/professional services, as well as private clients,” said Kapiloff.
Through the partnership, the entire Underwood team has joined Insgroup and will continue to operate at its current location in downtown Dallas under the existing leadership of Harbaugh and Hill.
“I am thrilled to be working alongside such well-respected leaders and knowledgeable colleagues who will help to support our growing list of clients, serve the needs of even larger, more complex accounts, and accelerate our expansion into additional specialty areas,” said Harbaugh.
Hill said, “We’ve considered other options to support our growth over the years, but Insgroup’s vision and values align so closely with ours that this is the right fit at just the right time.”
This expansion is the latest example of talented practitioners recognizing the unique opportunity that Insgroup offers. Since its founding over 40 years ago in Houston, Insgroup has been named a Top 100 Broker of U.S. Business by Business Insurance magazine, and is one of the largest such firms in Texas. The firm maintains offices in Austin, Dallas and Houston, and practices in the following areas: commercial insurance brokerage and risk management, employee benefits consulting and brokerage, and private client insurance services.
Source: Company Press Release