IMA Financial Group enters Florida market via merger

IMA Financial Group enters Florida market via merger | Insurance Business America

Insurance News

IMA Financial Group enters Florida market via merger

Destination state rising to be the fourth-largest economy in the US

Insurance News

By
Terry Gangcuangco

Insurance brokerage IMA Financial Group has forayed into the commercial insurance market in Florida via a partnership with Wallace Welch & Willingham, the state’s biggest privately owned retail insurance broker.

Based in St. Petersburg and Sarasota, Wallace Welch & Willingham employs 155 people and generates nearly $30 million in annual revenue. The independent broker specializes in commercial and personal property & casualty insurance and employee benefits, having traded since 1925.

“Wallace Welch & Willingham is exactly what we look for in a strategic partner: a robust 100-year history of providing quality service and unwavering commitment to their clients, and core values of integrity, accountability, success, and passion which guide all of their company decisions,” IMA chief executive Robert Cohen highlighted.

“What truly stands out about the firm is their values-driven approach to their clients, employees, and community, which echoes IMA’s commitment to protecting assets and making a difference.”

Meanwhile, Wallace Welch & Willingham president Jon Hammond had this to say about the merger: “Our search for the next step in our company’s growth story was driven by a desire to find a partner that was like us but had the resources, specialty expertise, and a culture that puts clients and employees first – we found that with IMA – a regional agency with national scale.”

Under the IMA umbrella, Wallace Welch & Willingham will operate as Wallace Welch & Willingham, an IMA company.

The wider group noted: “IMA has clients in all 50 states with 19 regional offices in 20 states that collaborate and align client services throughout the enterprise.

“With Florida rising to the fourth-largest economy in the United States with a host of unique commercial insurance challenges, IMA is well positioned to continue its growth trajectory as one of the largest independent, majority employee-owned insurance brokerages in the US.”

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