US-based independent insurance agency G&G Independent Insurance has acquired Arkansas Insurance Advisors (AIA).
The financial terms of transaction, which become effective last week, were not revealed.
Founded in 2015, AIA provides auto, motorcycle and business insurance in the Central Arkansas region.
The company also offers all types of home insurance including homes, renters insurance, landlord policies, as well as flood insurance.
The acquisition of AIA is said to help G&G to grow its presence in the Arkansas state. The unified company is expected to offer better opportunities for the clients of both G&G and AIA.
As part of the transaction, AIA’s employees will join G&G’s operations and continue to work out of its existing office in Little Rock.
AIA founder Elliott Carr was quoted by Insurance Business as saying: “I would not have made this decision if I didn’t think it was the best decision for our employees, business partners, and clients.
“I look forward to seeing G&G continue to support our customers in many of the areas where G&G possesses a distinctive capability and expertise.”
G&G CEO Jordan Greer was quoted as saying: “We are so excited to welcome AIA to our team as we continue to grow and expand our locations into the central Arkansas region.”
G&G specialises in auto insurance, home insurance, motorcycle insurance, flood insurance, life insurance, and commercial insurance.
Last week, US-based digital insurtech company Next Insurance secured $20m in Series D funding round financing led by CapitalG, Alphabet’s independent growth fund.