Alera Group, a US-based employee benefits firm, has purchased a controlling interest in The Insurance Alliance of Central Pennsylvania (The Alliance), which operates as an independent insurance agency.
In Pennsylvania, The Alliance offers support to 10 firms including three firms that were earlier acquired by Alera Group.
The transaction will not affect Alliance’s other agencies and they will remain independently-owned, and members of The Alliance.
Alera Group expects the deal to expand its capabilities to integrate the property and casualty firms it has acquired and plans to acquire in the future.
Serving as an important component of Alera Group’s P&C platform, The Alliance will give access to multiple markets, improved technology and intellectual property.
The Alliance CEO and president Jane Koppenheffer said: “We join Alera Group with great expectations for what we will craft together in our growing synergistic relationship. Through Alera Group, The Alliance will continue to grow and include new firms, representing a wide variety of sizes, diversity and areas of expertise.”
Alera Group CEO Alan Levitz said: “We are thrilled to be working even more closely with The Alliance. Jane and her team bring tremendous expertise and experience which will enable Alera Group to more quickly grow and integrate as we leverage our new capabilities.
“We have been and will continue to be proud members of The Alliance alongside firms that share similar values. We believe that this transaction is a big step forward for Alera Group, our firms in The Alliance and the entire Alliance.”