Evertree Insurance Services has strengthened its embedded partnership capabilities with the acquisition of US-based Prosper Insurance.

The acquisition forms part of insurance broker Evertree’s efforts to strengthen its presence in the mid-Atlantic region.

Financial terms of the deal were undisclosed.

Evertree, which was founded in September 2022, said the transaction marks a significant milestone in its strategic growth plan.

Evertree founder and CEO Alex Tuff said: “Drew Monroe and his 99-person team have dedicated the last decade to developing cutting-edge technology and solutions for their partners and producers.

“Together, we are well-positioned to seamlessly integrate and invest on top of proven technology into every facet of our operation and extend embedded solutions to partnerships on a national scale. Importantly, we are excited to onboard the exceptional team they have assembled and are confident that as a combined force we will further our effort to become the preeminent personal lines brokerage firm of the future.”

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By GlobalData

Evertree operations and technology head and Prosper Insurance founder Drew Monroe said the combination of Prosper Insurance and Evertree would redefine industry standards.

The deal also allows Evertree to provide innovative insurance solutions and a more unique client service experience. 

Monroe added: “We look forward to merging our firms’ strengths and knowledge to make insurance simpler, more accessible and tailored to the individual needs of our clients and are confident that our shared mission and core values will result in a truly unique platform within the industry.”