American Growth Insurance (AGI) has completed its first insurance agency acquisition, adding Baltimore-based Heller-Kowitz Insurance Advisors as the company begins building a national network of technology-enabled independent insurance brokerages.
Financial terms of the private transaction were not disclosed.
Founded in 2014 by insurance industry veterans Steve Heller and Brian Kowitz, Heller-Kowitz is a full-service independent agency offering personal and commercial property and casualty insurance, employee benefits and life insurance. The firm has also been recognized as a Reagan Consulting Best Practices agency.
The acquisition marks the first step in AGI’s strategy of acquiring established independent insurance agencies and supporting them with artificial intelligence, automation and proprietary technology. The company is backed by Rockbridge Growth Equity and venture capital studio Atomic.
Following the transaction, Heller-Kowitz will gain access to AGI’s technology platform and additional operational resources. The companies expect the technology to automate routine processes, improve productivity and give employees more time to focus on clients and business development.
AGI CEO Brian Morgan said Heller-Kowitz represents the type of agency the company is looking to add to its growing platform, citing its strong customer relationships, insurance expertise and reputation for service.
For Heller-Kowitz, the partnership also provides greater scale and access to a broader network of insurance carriers while allowing the agency to preserve its relationship-focused approach.
The agency had received interest from other potential buyers in recent years, but co-founder Brian Kowitz said AGI’s emphasis on technology and operational support distinguished the opportunity from more traditional acquisition proposals.
With Heller-Kowitz serving as its first agency partner, AGI plans to continue pursuing acquisitions of independent insurance agencies across the United States. Its strategy is focused on combining established agencies and their client relationships with technology designed to improve efficiency, scalability and profitability.
The acquisition gives AGI an established multi-line agency as the foundation for its planned national insurance brokerage network.
Information for this article was provided by AGI. Views and claims expressed in this article are those of the source company and do not necessarily reflect the views of AgencyEquity.com. This article may have been edited with the help of AI.
