Two pieces of news provide a flicker of hope amid the doom and gloom.
ABD Insurance and Financial Services, a retail property, casualty insurance brokerage, employee benefits consultant, and 401k Retirement consultant, announced it has completed an agreement acquiring the assets of Insurance Associates.
Insurance Associates specializes in the design and oversight of risk management and insurance programs for a diverse group of commercial and personal clients. The privately held company is located in Walnut Creek, Calif.
"The addition of Alan Sampson and Pat Hoefling and the Insurance Associates team is an exciting way to expand ABD's footprint in the East Bay," said ABD President and Co-Chairman Kurt de Grosz. "Alan has built his business on the highest standards of integrity and service excellence making the people and culture at Insurance Associates an excellent match for ABD. We are very pleased to have Alan and the IA team as a part of our talented and dynamic Bay Area insurance collective."
Adds CEO Brian Hetherington, "While we have a strong presence with many clients and employees in the East Bay, securing a local office makes clear our commitment to be a more visible and active part of this community. With the addition of Alan and the Insurance Associates team of professionals, ABD has the opportunity to grow its business portfolio in all areas of risk management, including commercial insurance and employee benefits. Alan and his team will help us be better and we look forward to working closely with the Insurance Associates team to support and further expand what they have built over the years in the East Bay and Greater Bay Area."
Said Alan Sampson, CEO of IA, "Insurance Associates and ABD are both dedicated to creating a culture that rewards innovation, teamwork and absolute client satisfaction. As part of ABD, we will have access to the experienced professionals, broad resources and extensive insurance company relationships of one of Northern California's fastest growing independent brokerages - all for the benefit of our clients. This is a very exciting time to be joining a unique, innovative and successful company like ABD."
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