CAA Agencies Expand Through Mergers & Acquisitions
- February 05, 2015
4 Texas & Kansas Members Grow Their Premium Sizes with M&A
AUSTIN, Texas -- Combined Agents of America, LLC (CAA) member agencies have expanded their book of business and locations through a substantial number of mergers and acquisitions (M&A) over the last 9 months. Together these 4 CAA members have grown their agencies by an estimated $38million in premium using this strategy. This growth strategy will enhance the total property and casualty premium CAA generated in 2014*. Some $707.8 million in property and casualty premium CAA generated in 2013. With continued expansion into Oklahoma and Kansas, Texas-based CAA is a managing general agency (MGA) committed to strengthening the independent insurance agency system through profitable growth and exceptional service for its member agencies.
M&As completed by 4 CAA member agencies during the last 9 months:
January 1, 2015: Garrett Insurance purchased Frantzen, Kaderli & Klier Insurance Agency, Inc. based in Fredericksburg, Texas with an estimated annual property and casualty volume of $6.5 million in premium. The purchase also includes a sizeable benefits book. Garrett Insurance also purchased Texas Hills Insurance Agency the previous year in April 2013. Garrett Insurance is based in Kerrville, Texas.
June 2, 2014: BRIA Insurance and Risk Consultants purchased a personal lines book of businesses with an estimated annual premium of $1.2 million premium from New Mark Insurance, another Austin-based agency. BRIA is based in Austin, Texas.
May 1, 2014: DFB Insurance Group purchased the assets of PIA Insurance Agency based in Amarillo, Texas, including two different entities over a 4-month period. The purchase included its P&C business, and its life and health business, as well as bringing in Grant Smith and Al Cunningham as partners during these transactions. All together these acquisitions added an estimated total of $20 million in premium to its book of business. DFB sold its Austin operations in order to concentrate its growth in West Texas and the DFW area on July 2014. The DFB Insurance Group total agency revenue is approximately $10 million as of December 2014. With offices in Pampa, Amarillo, Borger and Dallas-Fort Worth, DFB Insurance Group is one of the largest agencies in Texas. DFB Insurance Group is headquartered in Pampa, Texas.
May 1, 2014: Keller Leopold Insurance, LLC merged with Bridges Insurance, a former CAA member agency, adding an estimated $10 million in premium and together creating an estimated combined premium of $50 million. The Bridges owners became new partner and owners in Keller Leopold Insurance and it increased Keller Leopold's number of offices to seven locations, all in Western Kansas. Keller Leopold is based in Garden City, Kansas. URL:
*CAA has not yet compiled its 2014 premium total.
About Combined Agents of America, LLC
Founded in 1997, Combined Agents of America, LLC (CAA) is based in Austin, Texas, and is comprised of 52 independent insurance agencies located throughout Texas, Oklahoma and Kansas. By funneling the agencies' combined premiums, CAA brings larger volume commitments to insurance companies, while empowering its members to realize greater benefits from insurance companies, vendor discounts and other incentives. In 2013, CAA generated more than $707.8 million in property and casualty premium, and currently works with 18 of the largest insurance companies in the nation. CAA is ranked #4 for the second year running on Insurance Journal's Top 20 list of largest agency partnerships in the nation. All CAA member agencies remain independent and are recognized by insurance companies as a key component to their future growth and goal commitments.
CAA member agencies include: Aars & Nelson Insurance Agency, Barnard Insurance Agency, Bartlett, Baggett & Shands, Benchmark Insurance Group, Benton-Luttrell-Brown Company, Bigham-Kliewer-Chapman-Watts Insurance Agency, Bibby Brilling & Associates LLP, BRIA Insurance & Risk Consultants, Bosworth & Associates, Bryan Insurance Agency Ltd., Brownrigg Insurance Agency Inc., Cravens Warren & Co., Crockett Insurance Service, DFB Insurance Group LLC, Ed Berrong Insurance Agency, Ed Weeren Insurance Agency Inc., EFGI Insurance & Bonds LLC, Elliott Insurance Group, Evans-Ewan& Brady Insurance Agency Inc., First Insurance Services, First Texas Insurance Services LLC, Fouts, Davidson, Burks Agency LLC, Fuqua Ruth Typer Insurance, Henry Norris Insurance Agency, Inc., Garrett Insurance Agency, Inc., GBS Insurance Agency Inc., Grona Boles Martin & Bloxsom Insurance, Hill County Insurance Agency, HC&H Insurance Group, ICI Insurance, Insurance Net Inc., JHC Insurance Agency Inc., J. S. Edwards & Sherlock Insurance Agency, Keller-Leopold Insurance, Inc , McCorkle Commercial Insurance Agency, Mr. Insurance Agency, Inc., NTX Insurance Group, Inc., Pierson-Fendley Insurance Agency, LLC, Pinnacle Insurance Group Inc., Porter Insurance Agency Inc., Purifoy Insurance Agency, LTD, SBS Insurance, The Shropshire Agency Inc., Siegeler Insurance Agency, Inc., Southern Star Insurance, Strong's Insurance Inc., Walthall-Sachse & Pipes, Inc., The Weatherby-Eisenrich Inc., Wellmann Insurance Agency, Inc., Western Insurance Agency, Whorton Insurance Services, and Wood-Dulohery Insurance, Inc.