Johnson & Johnson announces acquisition of Statewide Insurance Corp

Deal expands its footprint into several states

Johnson & Johnson announces acquisition of Statewide Insurance Corp

Insurance News

By Mika Pangilinan

Managing general agency Johnson & Johnson announced that it recently acquired the assets of Statewide Insurance Corp as it looks to expand into a number of Southwestern states.

Founded in 1964, Statewide Insurance Corp is among the oldest general agencies in Arizona. It serves clients across the Southwestern US, writing specialty and preferred commercial insurance, as well as personal lines insurance.

“This acquisition by Johnson & Johnson, a leading specialist in related businesses, will accelerate the growth in revenue and profitability of our existing business units and provide greater professional development and career advancement opportunities for the employees at Statewide,” said Dan Braude, president and COO of Statewide Insurance Corp.

The South Carolina-based Johnson & Johnson is a fourth generation, family-owned MGA providing E&S markets, standard markets, and premium financing to independent insurance agents. Founded in 1930, it has a long history of providing services and products in multiple locations across the country, namely Alabama, Connecticut, Delaware, Florida, Georgia, Louisiana, Maine, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New York, North Carolina, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont, and Virginia.

A release from the agency said the acquisition of Statewide will expand this reach to include the Southwest as it eyes to serve independent agencies in Arizona, Nevada, New Mexico, Colorado, and Utah.

“Adding the Statewide Insurance Corp. Team and their agency network to Johnson & Johnson will provide us with a terrific group of employees and agencies which will enhance our ‘service first’ approach to the Agents currently served by Statewide,” said Francis Johnson, CEO of Johnson & Johnson.

“Together, we plan to bring a new level of passion, commitment and resources to the Independent Agencies in Arizona, Nevada, New Mexico, Colorado, and Utah,” added Harry Johnson, Johnson & Johnson’s president and COO.

Johnson & Johnson was among Insurance Business America’s list of Five-Star MGAs and Wholesale Brokers for 2021.

Related Stories

Keep up with the latest news and events

Join our mailing list, it’s free!