Relation Insurance, a privately owned insurance brokerage firm in the US, has acquired Pope & Young Bonding, a privately owned employee surety firm is based in Clovis, California.
The financial details of the deal were not disclosed.
Pope & Young specialises in contract, license and permit, court, and fidelity bonds.
Through this acquisition, Relation hopes to expand its footprint through its specialty service offerings and capabilities in California.
Relation CEO Joe Tatum said: “We are excited to welcome Pope & Young Bonding to the Relation family.
“This acquisition brings new products and capabilities to our California clients, and we are excited to have Dennis Pope and Debbie Young join the Relation family.”
Pope & Young president Dennis Pope said: “We are excited to partner with Relation. Combining our surety services with Relation’s suite of products will help us continue to deliver superior service and positions us for continued growth.”
Relation Insurance specialises in property and casualty, risk management, employee benefits, and TPA-consulting services through its family of brands across the US.
Founded 13 years ago, Relation has over 500 employees in more than 35 locations across the US.
Aquiline Capital Partners, a private equity firm based in New York and London, is the parent company of Relation Insurance.