Ash Brokerage Acquires Second Acquisition in 2018
- November 05, 2018
Ash Brokerage Acquires Target Insurance Services, Inc.
Partnership is Ash’s Second Acquisition of 2018
Fort Wayne, Indiana – Ash Brokerage, The Largest Privately Held insurance brokerage in the United States, continues to grow with the acquisition of Kansas-based Target Insurance Services, Inc., the companies announced.
Leaders say the partnership comes as a result of a long-standing relationship between the two firms, and they are excited for the opportunities ahead. Tim Ash, CEO of Ash Brokerage, said he and Target President Matt McAvoy have a lot in common, as they each lead businesses that were started by their fathers.
“Each were innovators and leaders in the brokerage space. Each entrusted us with carrying on the business and impacting lives. So, rather than continue to each do that on our own, we’re excited to do it together,” Ash said. “They’ve made their mark on the industry. It’s the caring nature of their employees that makes partnerships like this work.”
McAvoy agreed, saying, “Aside from being family businesses, our organizations have a common culture. We’re both mission-centered, trying to always do the right thing for the people we serve. By combining firms, a larger platform exists to jointly participate in the future of the insurance industry – ensuring consumers’ needs are met in a changing distribution environment. Our alignment with Ash Brokerage is an exciting time for me, our staff and customers.”
Under the acquisition, which was signed today, Target Insurance Services will begin transitioning to the Ash Brokerage brand and operations platform. Their advisors will also gain access to Ash Brokerage’s tools and business strategies, including enhanced technology for compliance and security in the wake of regulatory and marketplace demands. Target’s 30 employees will join the team at Ash, adding to their team of more than 400 professionals nationwide.