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June 13, 2022

King Insurance continues acquisition spree with Wurzel Insurance buyout

US-based full-service insurance broker King Insurance has acquired Wurzel Insurance to expand its footprint in Central Florida.

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The acquired property and casualty insurance agency is headquartered in Oviedo, Florida.

The financial and other terms of the acquisition were not disclosed by the companies.

Commenting on the acquisition, King Insurance CEO Chad King said: “The Wurzel Insurance agency is an ideal partner for us. We are excited about this opportunity, and to further expand our presence in Central Florida.”

Wurzel Insurance primarily focuses on preferred personal lines, and small-to-mid commercial lines.  

It offers home insurance, condo and rental insurance as well as auto and motorcycle insurance.

The company also offers boat and watercraft insurance, commercial insurance, and life insurance.

Wurzel Insurance founder Robert Wurzel said “The Wurzel family has three generations who have been serving the insurance needs of Florida families for over 75 years. We’re excited to partner with King Insurance and continue to serve our clients for many years to come.”

The deal follows King Insurance’s acquisition of Piedmont Insurance Associates in December last year.

Piedmont offers insurance solutions to commercial and personal lines customers from its lineup of insurance carrier partners.

It was based in Georgia, with operations in Covington and Newnan.

King Insurance, which was founded in 1974 and headquartered in Gainesville, Florida, is a full-service insurance brokerage firm. It offers a wide array of property & casualty and employee benefits solutions. 

Free Whitepaper
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Disruptive start-ups to watch out for

2021 was a record-breaking year, with more businesses breaking into the billion-dollar club. Many start-ups have achieved or retained the unicorn status by the end of the year to reflect nearly a fivefold growth from that in 2020. This boom can be linked to a financing frenzy spurred by the quick adoption of technology and innovative solutions by start-ups gaining traction in response to the pandemic. However, the start-up ecosystem is now facing turbulent times for fundraising as investors seek long-term business strategies, valuations, and a route to profitability amid uncertain market circumstances. Nevertheless, 2022 has the potential to carry forward the momentum with multiple entities having a fair chance of being in the right place when aided by the right technologies. GlobalData leverages the power of alternative data to examine the health of start-ups across multiple dimensions including the quality of their innovations, market presence, and the funding they can attract. This helps our clients to analyze the disruptive potential of start-ups for early alliances, investments, and acquisition prospects to develop future-proof strategic roadmaps for a competitive advantage. Read our report and gather insights on the following topics:
  • Recent Unicorn trends
  • Unicorns in 2022
  • Future Unicorns
  • Start-ups to watch out for
Start-up ecosystem outlook by top geographies
by GlobalData
Enter your details here to receive your free Whitepaper.

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