Mergers & Acquisitions
Relation Insurance Acquires Innovative Broker Services
Walnut Creek, CA., August 16, 2022—Relation Insurance Services (“Relation”), one of the largest and fastest-growing national insurance agencies, announced today it acquired the assets of California-based Innovative Broker Services. Terms of the transaction were not disclosed.
Transaction adds to Relation’s presence in California and further expands Relation’s offerings in the west
Innovative Broker Services offers full-service employee benefits solutions to clients in California and is headquartered in Folsom, CA. Tom Avery will continue to lead Innovative Broker Services under Relation going forward.
“We are thrilled to welcome Tom Avery and his team to Relation,” said Tim Hall, Executive Vice President and Head of Mergers and Acquisitions for Relation. “Innovative Broker Services brings expertise and added depth to our existing footprint in the California marketplace and we are excited to have them.”
About Relation Insurance Services
Relation Insurance Services is an insurance brokerage that offers superior risk-management and benefits-consulting services across the United States. It is ranked by Insurance Journal within the top 30 largest agencies in the country by revenue and has approximately 1,200 employees across more than 125 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.
M&A CONTACT
Tim Hall, EVP & Head of M&A
Relation Insurance Services, Inc.
P: 312-714-7279