The Liberty Company Insurance Brokers, a California-based insurance firm, has bought a majority stake in local peer Mitchell & Mitchell Insurance Agency. Financial terms of the deal were not disclosed.
Established in 1954, Mitchell & Mitchell tends to lawyers, dentists, and CPAs. The firm has been serving as the exclusive agent for the CNA lawyer’s professional liability programme in California for around two decades.
Liberty Company plans
Under the agreement, the Liberty Company will become majority owner of Mitchell & Mitchell alongside the latter’s former shareholders.
This includes Gary Mitchell who will continue to serve in the role of president.
Liberty CEO Jerry Pickett said: “We could not be more excited to welcome the impressive team from Mitchell & Mitchell and the wealth of experience they bring to Liberty for professional liability and program business.
“Their management of the CNA programmes for Lawyers, Dentists, and CPAs is among the highest performing in the nation and we look forward to continuing that exceptional level of stewardship while tapping into our multi-office infrastructure and sales culture to grow our clientele in these professional niches.”