2 CAA Member Agencies Grow Through Acquisitions In Q3

AUSTIN, Texas, July 27, 2012 /PRNewswire/ -- Combined Agents of America, LLC (CAA) is pleased to announce that two of its member agencies, Duncan, Fraser & Bridges Insurance Agency, Inc. and Pinnacle Insurance Group, Inc., have grown through recent acquisitions totaling approximately $11.7 million in written premium in Q3. CAA is a closed managing general agency (MGA) committed to strengthening the independent insurance agency system through profitable growth, quality and service with members located in Texas, Kansas and Oklahoma.

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Partners of DFB, a CAA member based in Pampa, Texas, have recently acquired Greater Texas Insurance Managers and Agency, Inc. in Cedar Park, Texas on July 1, 2012. This agency will add some $1.25 million in commission revenue and approximately $10 million in written premium. The agency will continue to operate under the Greater Texas name.  One of the two former owners of Greater Texas, Ken McLain, will stay on to manage the agency for a minimum of three years. This is DFB's fourth acquisition in the last 6 years.

"We are very excited about our latest acquisition in the Austin area.  This fits right in with our strategic plan to expand our agency's footprint across Texas.  Ken McLain and Ray Price built a very successful agency and we look forward to working with Ken and his staff to build on that legacy," said Mark Bridges, Vice President of DFB, a CAA member agency.  

In recent years, partners of DFB acquired Edmond, Deaton & Stephens Insurance Agency, Inc. and Century III Insurance, both based in Amarillo, Texas, and Apex Insurance Agency, Inc. based in Arlington, Texas (now operating as Sun West Insurance Agency, Inc.). The combined premium of the entire group is approximately $60 million, with Greater Texas making up approximately $10 million of this total. URLs: www.dfbinsurance.com/

CAA member Pinnacle Insurance Group, Inc. is headquartered in Waco, Texas and recently acquired Naler Insurance Agency, Inc. based in McGregor, Texas on July 17, 2012. Through this acquisition Pinnacle will gain some $1.7 million in written premium. Naler's CEO Joe Paschall will continue to be both a consultant and producer with this agency.

In recent years, Pinnacle has also grown its business through acquiring Bosque Valley Insurance based in Valley Mills, Texas, and the personal lines book of business from Dixon Insurance based in Austin, Texas. Each of these three acquisitions has taken place since 2003, and provided Pinnacle and CAA with approximately $3.5 million more in written premium.  URL: www.pinnacleinsgroup.com

"All three of these acquisitions have proven to be successful, and some better than others. Although our strategy has been acquisition where 'economies of scale' are already in place with our existing experienced staff, technology and our CAA carriers, in a few cases we have hired tenured employees from the selling agencies.  When this is possible, this makes a good transaction even better!" said Wayne Peel, CPCU, President of Pinnacle, a CAA member agency. "It's imperative to have strategic payout terms, good communication with staff and insurance carrier representatives, as well as the full support of the seller. It's extremely important to recognize the first several weeks are emotional for all involved and to stay on 'point' with the reasons that allowed the deal to happen. In all, the Golden Rule approach still works!"  

About Combined Agents of America, LLC
Founded in 1997, Combined Agents of America, LLC (CAA) is based in Austin, Texas, and is comprised of 47 independent insurance agencies located throughout Texas, Oklahoma and Kansas. By funneling the agencies' combined premiums, CAA brings larger volume commitments to insurance companies, while empowering its members to realize greater benefits from insurance companies, vendor discounts and other incentives. In 2011, CAA generated more than $505.8 million in annual premiums, and currently works with 18 of the largest US insurance companies. CAA experienced more than 20.5% growth in written insurance premium in 2011, compared to the $419.9 million it wrote in 2010. All CAA member agencies remain independent and are recognized by insurance companies as a key component to their future growth and goal commitments. Additional information is available at www.combinedagents.com.

CAA member agencies include: Aars & Nelson Insurance Agency, Barnard Insurance Agency, Bartlett, Baggett & Shands, Benchmark Insurance Group, Benton-Luttrell-Brown Company, Bigham-Kliewer-Chapman-Watts Insurance Agency, Bibby-Brilling & Associates, BRIA Insurance & Risk Consultants, Bridges Group Inc., Bosworth & Associates, Bryan Insurance Agency Ltd., Brownrigg Insurance Agency Inc., Cravens-Warren & Co., Crockett Insurance Service, Duncan-Fraser & Bridges Insurance Agency Inc., Ed Berrong Insurance Agency, Ed Weeren Insurance Agency Inc., EFGI Insurance & Bonds LLC, Elliott Insurance Group, Evans-Ewan & Brady Insurance Agency Inc., First Insurance Services, First Texas Insurance Services LC, Henry Norris Insurance Agency, Inc., HC&H Insurance Group, Garrett Insurance Agency, Inc., GBS Insurance Agency Inc., Grona Boles Martin & Bloxsom Insurance, Hill County Insurance Agency, Insurance Associates of Texas, Insurance Net Inc., JHC Insurance Agency Inc., J. S. Edwards & Sherlock Insurance Agency, McCorkle Commercial Insurance Agency, Mims & Smith, Mr. Insurance Agency, Inc., NTX Insurance Group, Inc., Pierson-Fendley Insurance, Pinnacle Insurance Group Inc., Porter Insurance Agency Inc., Purifoy & Company, The Shropshire Agency Inc., Siegeler Insurance Agency, Inc., Walthall-Sachse & Pipes, Inc., The Weatherby-Eisenrich Inc., Wellmann Insurance Agency, Inc., Western Insurance Agency, and Whorton Insurance Services.

Press Contact:
Courtney R. Holder
Tel: (512) 627-0779
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SOURCE Combined Agents of America, LLC