Afore Insurance Services has acquired Myron K. Hobbs & Company, an employee benefits agency based in the Louisville region of Kentucky.
Financial terms of the deal remain undisclosed.
This deal enables Afore’s expansion into Kentucky and adds a new office location in the Louisville area.
Staff from Myron K. Hobbs & Company will relocate to shared office space and begin working along with Neace Ventures, the investment firm connected to Afore vice-chairman John Neace.
Neace brings long-standing experience in the insurance sector.
Myron K. Hobbs & Company founder Myron K. Hobbs said: “I have tremendous confidence in Afore, its business model, and the leadership of Mike Garguilo and John Neace,” Hobbs said. “This partnership will accelerate our growth while preserving the strong local relationships we have built.
“Afore’s commitment to empowering employees and producers truly stands out. By combining employee benefits and P&C [property and casualty] capabilities, we can serve clients more holistically, help them protect their businesses in new ways over time and deepen the personal relationships that have always defined our agency.”
Afore Insurance Services is based in Alpharetta, Georgia, and has more than 20 offices throughout the US. Since its establishment in the 1970s, the company has taken over more than 50 agencies.
Afore Insurance Services CEO and president Michael A. Garguilo commented: “Myron Hobbs and his team bring considerable group employee benefits capabilities and deep client relationships that align perfectly with Afore’s mission.
“We are truly excited to welcome Myron, the agency’s employees and their valued clients to Afore. This acquisition not only expands our footprint into a new state but also gives us a strong Louisville presence that will support continued growth across the region.”
In November last year, Afore completed the acquisition of Salzberg Insurance Agency, a company with an 87-year history serving commercial and personal insurance clients in Norfolk, Virginia.
“Afore Insurance enters Kentucky with new deal” was originally created and published by Life Insurance International, a GlobalData owned brand.
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