The transaction expands Freestone’s Midwest presence and adds a Chicago employee benefits brokerage serving middle-market employers.
Freestone Insurance Group has entered into a strategic partnership with 360 Benefits, a Chicago-based insurance brokerage specializing in employee benefits and enterprise risk management.
Financial terms and specific ownership details were not disclosed.
Founded in 2014 by Bill Pragalz, 360 Benefits works primarily with privately held, middle-market employers across a range of industries. The firm advises clients on employer-sponsored health and welfare plans, including self-funded, level-funded and fully insured arrangements.
Under the partnership, Pragalz will continue to lead the business as president of 360 Benefits. The firm will retain its focus on personalized benefits consulting while gaining access to Freestone’s technology, analytics, specialized expertise and broader risk management resources.
Pragalz said in the announcement that growing client organizations and an increasingly complex employee benefits market have created a need for expanded capabilities and deeper expertise. He said the partnership will allow 360 Benefits to preserve its client-service approach while adding resources through Freestone and Shore Capital Partners.
Freestone is a portfolio company of Shore Capital, a Chicago-based private equity firm. The companies said the partnership is expected to support 360 Benefits’ growth through investments in technology and talent, expanded services and access to additional risk management capabilities.
Ben Hayes, CEO of Freestone Insurance Group, said the addition of 360 Benefits complements Freestone’s existing employee benefits practice. He also said the partnership is intended to help 360 accelerate organic growth and strengthen client relationships.
Information for this article was provided by Freestone Insurance Group. 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.
