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US-based specialty insurance coverage brokerage and threat administration supplier Threat Methods has acquired Stone Insurance coverage Company for an undisclosed sum.
Stone Insurance coverage Company, established in 1859 by Elliott Stone, caters to industrial and private traces purchasers.
The corporate is presently led by Robert Oman and Doug Danaher, who oversee its industrial and private traces companies, respectively.
With a staff of property and casualty insurance coverage specialists, Stone Insurance coverage Company caters to industrial purchasers throughout varied industries akin to retail, manufacturing, e-commerce, property upkeep and industrial providers.
Threat Methods mentioned the deal is predicted to supply further assets and unlock new development alternatives within the company’s specialty of private traces and high-net-worth purchasers.
This acquisition additional strengthens Threat Methods’ presence and experience in New England.
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Threat Methods New England regional chief Ed Flanagan mentioned: “The muse of Threat Methods’ success has been our staff’s dedication to collaboration, improvement of experience, a way of urgency and to integrity.
“Stone Insurance coverage Company shares this philosophy, and their lengthy enterprise historical past is proof of its efficacy. I’m excited to welcome their staff of execs to the Threat Methods household, and to our ever-expanding native presence alongside the Connecticut shoreline.”
Stone Insurance coverage Company managing accomplice Robert Oman mentioned: “As we appeared for methods to perpetuate and scale our enterprise, we appeared for a accomplice who shared our view of the enterprise and will complement our capabilities.
“Threat Methods clearly had the assets and capabilities we would have liked, and likewise provided an awesome cultural match for our folks and method to shopper service.”
Prior to now yr, Threat Methods has made strategic acquisitions, together with Massachusetts-based worker advantages specialist Strategic Advantages Options and Connecticut-based firm Could, Bonee & Clark Insurance coverage, which introduced experience in worker advantages and monetary providers.
Final month, Threat Methods acquired retail insurance coverage company Robert Alan Company.
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