Relation Insurance Services announces First Insurance acquisition
Relation Insurance Services announces First Insurance acquisition | Insurance Business America
Insurance News
Relation Insurance Services announces First Insurance acquisition
Firm will continue to operate under its old management
Insurance News
By
Kenneth Araullo
Relation Insurance Services has acquired the assets of First Insurance, an affiliate of FirstBank, Inc.
First Insurance, based in Durant, Oklahoma, provides a full range of insurance products including commercial, personal, farm and ranch, and manufacturing. Dina Wagner will continue to manage the Durant office as part of the Relation family.
The transaction, which took effect on April 1, 2024, did not have its terms disclosed.
“Joining Relation enables us to better serve our clients,” Wagner said. She also noted that Relation’s specialized expertise and broad network of carrier relationships would offer clients better coverage options tailored to their needs.
“First Insurance has built an outstanding reputation in their community, and Relation is proud to welcome them aboard,” Tim Hall (pictured above), CEO of Relation said.
Hall added that the team brings long-term relationships and deep experience in providing comprehensive insurance solutions, and Relation is excited to have them join the team.
Relation Insurance Services also revealed that it is actively seeking partnerships to expand its offerings, industry expertise, and geographic footprint. The company offers equity ownership opportunities to insurance entrepreneurs and emphasizes a people-first approach to optimize outcomes for employees and clients.
Relation Insurance Services is an insurance brokerage firm providing risk management and benefits consulting services across the United States. Relation has approximately 1,350 employees across more than 137 locations nationwide.
The company is privately held and backed by Aquiline Capital Partners, a private equity firm based in New York and London that invests globally in businesses across financial services and technology.
In April, the firm announced its acquisition of Elite Insurance, a Brooklyn-based firm offering employee benefits, commercial insurance, and high-net-worth (HNW) personal insurance.
“Joining Relation enables us to better serve our clients. Relation’s specialized expertise and broad network of carrier relationships truly offer our clients access to the best options for coverage that fits their needs,” Elite Insurance owner Yechiel Bromberg said.
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