Insurance agency network Renaissance Alliance has acquired two other agency networks, one in New Jersey and another in California.
Massachusetts-based Renaissance, which calls itself the “agency growth engine,” announced it had acquired Agency Network Exchange, a 60-member exchange based in New Jersey, and Fresno-based United Valley Insurance Services, with 92 member agencies.
The move means that Renaissance Alliance now includes more than 270 agencies with $3.6 billion in premium, the company said in a news release.
ANE and United Valley will continue to operate under their current brands and with their current leadership in place.
Renaissance itself was purchased in 2018 by Long Arc Capital, which has invested heavily in personnel and operations, a Long Arc partner said.
ANE, founded in 2009 by two New Jersey-based agencies, expanded into Pennsylvania and New York and has become a rapidly growing network of independent agencies. It represents $1.4 billion in premium among its membership.
United Valley Insurance Services was founded in 1983 as a local, Central Valley insurance agency network with seven member agencies. Today, its member agencies in California and Arizona represents $1 billion in total written premium, the news release said.
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