Afore Insurance Services, LLC has announced its acquisition of Franklin, Tenn.-based Broussard and Associates, Inc., which operates as Innovative Insurance Services.
The deal includes the integration of principals Kimberlee and Thomas Broussard, along with all existing employees, into Afore’s operations. Financial terms of the transaction were not disclosed.
The acquisition marks Afore’s expansion into Tennessee, following recent acquisitions in New Jersey, South Carolina, and Florida.
Kim Broussard said the decision to join Afore was based on shared values in client service and satisfaction.
Michael A. Garguilo, president and chief executive officer of Afore, said that Afore and Innovative Insurance Services will work together to strengthen client service and build on existing business operations in Tennessee.
With over 50 agencies now under its belt, Afore has also indicated plans for further nationwide growth. The company is supported by principals – former owners – and producers who direct client sales and services across more than 20 offices in the country.
In December, the consolidated brokerage acquisition platform also announced a major deal to purchase S&B Block Services, doing business as Block Insurance, as part of its expansion efforts. Block Insurance, founded in 1987, focuses on childcare, private school and martial arts industry segments.
A month before that, Afore also partnered with BCA Insurance Group to expand their operations in the Mid-Atlantic, with BCA serving as Afore's cornerstone platform in the region.
As part of this partnership, BCA retained its name and continues to operate under the same leadership, backed by the same employees. BCA is headquartered in offices in Northfield and Marlton, N.J.
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