ReSource Pro has acquired Insurance Licensing Services of America (ILSA), a Groesbeck, Texas-based firm that provides regulatory and compliance services to insurance organizations and professionals.
By acquiring ILSA, New York-based ReSource Pro is building on its strategy to deliver business transformation services and operational solutions to insurance organizations.
ReSource Pro is also acquiring Spot On Insurance (SOI), ILSA’s insurance podcast. SOI has enjoyed more than 100,000 downloads since it began in 2017 and has hosted over 320 guests and produced over 280 episodes, according to the companies’ announcement.
With a team of more than 50 filings experts, ILSA delivers outsourced licensing and compliance filings, surplus lines tax filings and corporate/annual filings services for insurance brokers and agencies.
ILSA will continue to be led by Russ Foster and will become part of ReSource Pro’s insurance experience center. ILSA will report to Frank Phillips, ReSource Pro vice president, who has over 25 years of leadership experience in the global insurance brokerage and underwriting industry. Ted and Arleen Taveras will continue to work with ILSA in an advisory capacity.
The financial details of this transaction were not disclosed. Morgan Partners served as exclusive financial advisor to ReSource Pro in these transactions.
Source: ReSource Pro
Topics Mergers & Acquisitions Texas
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