Signers National, a US insurance broker, has expanded its portfolio with the acquisition of two agencies, Affiliated Insurance Agents and Ballantyne Insurance Group.
Financial terms of the deals were not disclosed.
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Both agencies will operate under Signers’ Lamb Insurance Services division.
This move is part of Signers’ strategy to target niche markets, specifically those serving human service and religious organisations.
Affiliated Insurance Agents, a Houston, Texas-based independent agency, specialises in insurance coverage for religious and non-profit organisations.
Post-acquisition, the agency’s owner, Tim Tanner, will join Lamb Insurance Services as a managing client executive.
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By GlobalDataThe staff of Affiliated Insurance Agents will also become part of the Lamb Insurance Services team.
Tanner said: “With the support of Signers and Lamb, we will be able to better support non-profit and religious organisations in Texas and beyond, and we look forward to the great results ahead.”
Ballantyne Insurance Group, located in Charlotte, North Carolina, offers insurance solutions to human service organisations.
William Bradley, the owner and operator, will continue his role as a managing client executive after the acquisition.
Bradley added: “There is a significant appetite in our market for the strong customer service and the wide range of coverage options they provide, and with Signers support, we believe we can best aid the North Carolina community with the coverage our businesses need to sustain and grow.”
Signers said that its acquisition strategy is set to continue throughout 2024, with a focus on agencies that cater to human service and religious sectors.
Signers CEO Josh Lamberg said: “These new acquisitions will provide our team with the opportunity to expand our reach in North Carolina and start our expansion into the Texas market.
“With the added expertise and insights of these organisations, we are better positioned to provide a wider range of insureds with valuable coverage and insights to keep their operations running smoothly.”
In November 2023, the broker announced the purchase of three retail insurance agencies, Carriage Trade Insurance Agency, the Sanctuary Insurance Agency and Robert O. Hampton.
Earlier, in August 2023, Signers acquired Eclipse Risk Insurance Services and Whittaker Agency, both providers of insurance to non-profit organisations.
