Walnut Creek, Calif., 10 July 2017 – Ascension Insurance, Inc. (“Ascension”) announced today that its wholly owned subsidiary, Ascension Insurance Services, Inc., dba Pan American Insurance Agency, Inc. (“Pan American”), entered a definitive agreement on June 30, 2017 with The Liberty Company Insurance Brokers, LLC (“Liberty Company”) to acquire a personal and small commercial lines book of business from Liberty Company’s Hollister, California location. The purchased book, along with the two Liberty Company employees joining Ascension, will be consolidated into the Salinas operations of Ascension’s Pan American business unit. The resulting combination strengthens Ascension’s market position across personal and small commercial lines of business in the greater Salinas area.
“We’re very excited about this transaction—not only because it further expands the number of clients we will be able to serve, but also because we gain the expertise of the Liberty Company employees joining us who’ve been delivering outstanding account-management services in their community,” said Pan American President, Steve Martin.
Ascension’s Chief Executive Officer, Joe Tatum, remarked, “A very warm welcome to the Liberty Company team members who are joining the Ascension family. We look forward to a long and fruitful collaboration.”
About Ascension Insurance, Inc.
Ascension Insurance, Inc. is a premier insurance agency that offers superior risk-management and benefits consulting services across the U.S. It is ranked within the top 50 largest agencies in the country by revenue, with approximately 475 employees in more than 35 locations nationwide. Ascension is a privately held corporation; alongside its private-equity partners, Parthenon Capital and Century Capital Management, the company expects to continue its strong growth trajectory through additional acquisitions and organic growth.