American insurance and wealth services firm Alera Group has acquired Haylor, Freyer & Coon, a New York-based provider of insurance and risk management solutions.
Haylor, Freyer & Coon, which was established in 1928, was a 100% employee-owned firm.
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It offers property and casualty insurance to commercial enterprises, municipalities, individuals, employee benefits plans, and personalised insurance solutions for college students through dedicated business units.
Haylor, Freyer & Coon CEO James Freyer Jr. said: “We have grown our brand over the years by developing specialty niche markets and continually adding value to our clients by focusing on their needs from an overall risk management perspective. This goes well beyond simply selling insurance policies to our customers.”
According to CNY Business Journal, all 200 employees of Haylor, Freyer & Coon have moved to Alera Group as part of the deal.
Alera Group employs nearly 3,500 people across 150 offices, with $1.1bn in revenue.
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By GlobalDataFreyer added: “As part of Alera Group, Haylor, Freyer & Coon has the exciting opportunity to have an even greater presence with our customers through expanded products and services, collaborative/in-depth practices group expertise, and additional insurance market options.
“These enhanced products and services provide world class resources to each and every client. Our commitment to the community has not changed, and our passion for supporting the places where we work and live will continue to thrive.
“This is an exciting time for us all! We look forward to continuing the business, community and personal relationships we’ve nurtured over our 94 year history.”
The companies did not disclose the deal value and other terms of the agreement.
Alera Group CEO Alan Levitz said: “The Haylor, Freyer & Coon, Inc. team provides insurance and risk management solutions with distinctive and exceptional service.
“We are thrilled to welcome the team to the Alera Group family, as we share both client first values and a collaborative working environment.”
