Insurance Acquisitions in Alabama

TWFG, a national independent insurance distribution platform headquartered in The Woodlands, Texas, has acquired Alabama Insurance Agency, Inc. and its network of 20 affiliated offices across Alabama. The deal expands TWFG's presence in the Southeastern United States and gives the agency access to broader carrier relationships, technology resources, and the national platform's distribution capabilities.

IMA Financial Group announced a strategic partnership with Valent Group, an Alabama-based insurance broker. Valent Group will retain its local identity and leadership while its ~86 employees become associates of IMA, giving IMA a foothold in Alabama and bolstering its Southeast presence.

Monarch E&S Insurance Services, a division of Specialty Program Group LLC, has acquired the assets of Commercial Sector Insurance Brokers, LLC (CSIB), a Birmingham-based E&S wholesale broker and contract binding specialist. The transaction expands Monarch E&S's contract binding capabilities and specialty placements (notably in mining and coastal property) and integrates CSIB's management team and broker relationships into Monarch's national offering.

PCF Insurance Services has acquired the insurance business of MK Insurance Group, a third-generation, family-owned commercial and personal-lines agency based in Hoover, Alabama. The deal gives PCF its first physical location in Alabama and expands the brokerage's specialty capabilities in construction, property management/commercial real estate and signage industries.

Higginbotham has announced an affiliation with the WRM Group, LLC — a consortium of Alabama independent agencies that includes Byars|Wright, Pritchett-Moore Insurance, and Flowers Insurance. The WRM Group operates nine offices across the Southeast and employs more than 100 people; the deal expands Higginbotham's presence and resources in the region. Reagan Securities served as exclusive financial advisor to the WRM Group in the transaction.

Valent Group LLC, a Birmingham-based insurance brokerage, has acquired Coastal Professional Insurance, Inc. (CPI), a Mobile, Alabama agency specializing in coastal property and flood insurance. The acquisition adds CPI's flood expertise and local client base to Valent's capabilities, strengthening its commercial condominium specialization and expanding its presence in coastal markets.

Byars|Wright acquired Junkins‑Yarbrough Corporation (JYC Insurance) in July 2017, integrating JYC's employees and book of business into its Gardendale, Alabama office. The deal expanded Byars|Wright's customer base and market share while allowing JYC's owners (Beau and Jackie Yarbrough) to focus on sales rather than managing staff.

VR Insurance Holdings, a newly formed holding company led by Vivek Ranadivé, BTIG and a group of family offices and strategic investors, completed the acquisition of The National Security Group, Inc. (NASDAQ: NSEC). Under the merger each share of NSG common stock was converted into the right to receive $16.35 in cash and NSG will be taken private and operated as a subsidiary of VR Holdings to pursue growth in insurance and financial services.

Higginbotham, a national insurance, financial and HR services firm, has acquired Lyon Fry Cadden Insurance, a long-established independent property and casualty broker based in Mobile, Alabama. The deal brings Higginbotham into Alabama, expands its service capabilities (including employee benefits and HR services), and names Lyon Fry Cadden president Gaylord Lyon Jr. a managing director while retaining the agency's ~30-person team.

AssuredPartners, a national insurance broker headquartered in Lake Mary, Florida, acquired Anchor Pardue Insurance, Inc. of Mountain Brook, Alabama. The Anchor Pardue team will remain led by Richard Pardue and Lisa Worley as part of AssuredPartners' regional growth strategy (the firm's 18th acquisition in 2021).