Mergers & Acquisitions
Relation Insurance Services, Inc. Enters Texas Market with the Addition of InSource Insurance Agency and Shepard Insurance Agency
Walnut Creek, CA., March 9, 2021—Relation Insurance Services, Inc. (“Relation”), one of the largest and fastest-growing national insurance agencies, announced today it acquired the assets of InSource Insurance Agency, Inc. (“InSource”), headquartered in San Antonio, Texas and Shepard Insurance Agency (“Shepard”), headquartered in McAllen, Texas.
InSource and Shepard provide commercial and personal lines insurance solutions to clients throughout South Texas, including San Antonio, McAllen and the Rio Grande Valley. Leveraging industry experience, product expertise and local relationships, InSource and Shepard help clients in all aspects of risk management. The two firms serve clients in a variety of industries, including energy, transportation and logistics.
InSource and Shepard will join Relation’s Central Region. Boyd Reeh, President of InSource, and Kent Shepard, President of Shepard, will continue their leadership roles at their respective firms.
“We are proud to welcome the InSource and Shepard teams to Relation and we are excited about further growth in the Texas marketplace,” said Tim Hall, Executive Vice President and Head of M&A at Relation. “These two firms are built on culture and client trust and they represent ideal partners for Relation.”
Terms of the transaction were not disclosed.
About Relation Insurance Services, Inc.
Relation Insurance Services is an insurance brokerage that offers superior risk-management and benefits-consulting services through its family of brands across the United States. It is ranked by Insurance Journal within the top 35 largest agencies in the country by revenue and has approximately 750 employees across more than 75 locations nationwide. Relation is a privately held corporation backed by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across financial services and technology. Visit: www.relationinsurance.com for more information.
Tim Hall, EVP & Head of M&A
Relation Insurance Services, Inc.