CBIZ has wrapped up the acquisition of property and casualty insurance agency Borden Perlman Insurance Agency (BP) for an undisclosed sum.
The acquired firm is a fourth-generation family-owned company that offers liability and risk management, with a specialty in sports programmes and affluent customers, to mid-market clients across the US.
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Borden Perlman Insurance Agency employs 65 people and reported approximately $16m in annual revenue.
CBIZ president and CEO Jerry Grisko said: “Our property and casualty business is among our highest performing business lines and we continue to make strategic investments to strengthen our presence in growing markets and add proven talent to our team.
“BP’s history of exceptional client service coupled with its strong culture made this a natural fit for CBIZ and we are excited for the opportunities that this acquisition brings to our combined teams and clients.”
Doug Borden and Jeff Perlman of BP stated, “We are excited for the opportunity to partner with an organisation with a national platform that is so aligned with our own company values and culture.
“We look forward to continuing our 100-year tradition of providing best-in-class service while expanding our national reach and maintaining our community roots.”
CBIZ offers accounting and insurance brokerage services in the US. It has more than 100 offices in 31 US states.
