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Relation Insurance Services completes acquisition of Elite Insurance Agency, Inc. to expand its offerings

May 20, 2024•over 1 year ago

Acquiring Company

Relation Insurance Services

Acquired Company

Elite Insurance Agency

Walnut CreekNew YorkInsuranceEmployee Benefits

Description

Relation Insurance Services has acquired the assets of Elite Insurance Agency, Inc. This strategic acquisition enables Relation to enhance its offerings and geographic footprint, providing clients with access to a wider range of insurance products and expertise. Elite Insurance Agency, Inc. based in Brooklyn, New York, will continue to be managed by Yechiel Bromberg as a valuable addition to the Relation family.

Company Information

Company

Relation Insurance Services

Location

300 S Wacker Dr

Walnut Creek, California, United States

About

Relation Insurance Services is an insurance brokerage that offers superior risk-management and benefits-consulting services through its family of brands across the United States. It is ranked by Insurance Journal within the top 30 largest agencies in the country by revenue and has approximately 915 employees across more than 80 locations nationwide. Relation is a privately held corporation backed by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across financial services and technology. Visit: www.relationinsurance.com for more information.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed