US-based Inszone Insurance Services has bought GM Lawrence Insurance Brokerage for an undisclosed sum.
GM Lawrence Insurance Brokerage was established and led by Gail Lawrence. The company provides solutions for the trucking insurance sector.
The latest deal is expected to help Inszone grow its business as well as expand its presence in the US.
Following the deal, existing customers of GM Lawrence Insurance Brokerage will continue to be served under the Inszone Insurance brand.
Inszone Insurance CEO Norm Hudson said: “GM Lawrence filled a need for an important industry that is often overlooked.
“We are excited to continue to build in this space and connect customers to an expanded range of resources to better serve their needs.”
Inszone Insurance was founded in 2002 and provides benefits, personal, and commercial lines insurance services.
The company has 28 locations spreading across the US states of California, Arizona, Nevada, Utah, Colorado, Missouri, Texas and Illinois.
In January this year, Inszone Insurance announced the acquisition of personal and commercial insurance provider Mirae Insurance Services.
Mirae Insurance Services mainly serves Korean-speaking customers. After the deal, Inszone announced that the employees of Mirae Insurance Services will offer service from its Anaheim location in California, the US.
At the time of announcement, Hudson said: “Through our acquisitions our agency has grown rapidly within the Korean community, and we look forward to continuing to serve this community and provide additional resources and insurance options to protect their businesses.”