Florida Preferred Administrators Adds Insurance & Benefits Consultants

Florida Preferred Administrators Inc. has entered into a purchase agreement to acquire certain assets of Insurance & Benefit Consultants of Sarasota, Fla. Florida Preferred is a subsidiary of Meadowbrook Insurance Group Inc. of Southfield, Mich.

IBC is a Florida-based retail agency specializing in group and individual health insurance products and personal financial planning services. These services are offered by several highly-rated and financially secure insurance companies. IBC is one of the oldest Blue Cross Blue Shield general agencies in Florida, with over 27 years of experience doing business in the Sarasota, Venice and Bradenton areas.

“Consistent with Meadowbrook’s goal to increase and diversify its fee and commission revenue, the acquisition of IBC geographically expands our agency operations and broadens our product offerings in the health and benefits field,” commented Robert S. Cubbin, president and CEO of Meadowbrook Insurance Group.

Meadowbrook also announced that Michael A. Moran has joined the company as IBC president. In this capacity, Moran will be responsible for management and sales operations of the firm.

Moran, who was previously employed by Meadowbrook, will integrate his Blue Water Insurance Group, an agency and a payroll services company, into the IBC operations.

“IBC is a historically successful operation with proven results and a growing revenue base,” Kenn R. Allen, senior vice president and president of Meadowbrook’s Retail Agency Operations said. “We are excited to have Moran join us to lead this office.”

Topics Florida