Relation Insurance Services has acquired Summers Thompson Lowry, a privately owned insurance brokerage based in Raleigh, North Carolina.
The terms of the transaction were not disclosed.
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Following the acquisition, Summers Thompson Lowry will operate as Summers Insurance Group, a Relation company. Founder Larry Summers will continue with the company as the head of the Raleigh office.
Summers provides property and casualty solutions for commercial and personal clients since 2000. It has established itself as a premier P&C firm within the Raleigh, Durham and Chapel Hill regions.
Relation will expand its commercial risk management resources to the greater Raleigh area with the acquisition of Summers.
Relation CEO Joe Tatum said: “We are excited to welcome Summers Thompson Lowry to the Relation family. This acquisition will significantly strengthen our P&C offerings in North Carolina and we are excited to partner with Larry Summers and the entire Summers team.”
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By GlobalDataSummers Thompson Lowry president Larry Summers said: “Joining Relation is an exciting evolution for our firm and our clients. I am extremely excited about the additional resources and services Relation will deliver to our clients. We are ideally poised with this partnership for continued growth and success.”
Earlier in February, Relation Insurance acquired Pope & Young Bonding, a privately owned employee surety firm is based in Clovis, California.
