Walnut Creek, Calif., 03 April 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 into a definitive agreement on March 31, 2017 with Ag Providers Insurance Services, LLC, dba Yosemite Pacific Insurance Services, LLC (“Yosemite Pacific”) to buy the company’s retail operations in California. Originally formed in 2006 to serve the agricultural insurance needs of California’s Central Valley, Yosemite Pacific has evolved into a full-service brokerage offering both commercial and individual insurance products to more than 2,000 clients throughout California. Yosemite Pacific’s offices in Fresno, Santa Maria, and La Quinta will become part of Ascension’s Pan American business unit, effective immediately. This transaction strategically expands existing operations in California for Ascension’s Pan American business unit.
“Ascension is a wonderful fit for Yosemite Pacific,” said Tim Finster, President of Yosemite Pacific. “Yosemite Pacific and Ascension both share a passion for delivering superb service to their customers, and joining with Ascension allows Yosemite Pacific to give clients access to an even broader array of service capabilities and tools they didn’t have before.”
“Yosemite Pacific is a thriving organization, filled with passionate folks who care about what they do,” said Pan American President, Steve Martin. “I’m excited to align with the best and look forward to everything Pan American and Yosemite Pacific will build together.”
Ascension’s Chief Executive Officer, Joe Tatum, remarked, “We’re very excited to welcome the Yosemite Pacific team to the Ascension family, as they deliver outstanding consulting, brokerage, and client-management services in their community. At Ascension, our ongoing goal is to develop innovative, creative, and responsive solutions for our clients in a dynamic marketplace. This deal will enable us to continue to deliver on this commitment as we grow our operations in California.”
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.