Insurance Acquisitions in Oklahoma

Warner Pacific, a national general agency backed by Lovell Minnick Partners, has completed the acquisition of Local Insurance Advisors (LIA), an Oklahoma-based Medicare and individual health insurance advisory firm. The deal expands Warner Pacific's Midwest footprint and enhances its Medicare and individual health insurance distribution capabilities, with LIA co-owners joining Warner Pacific as Regional Vice Presidents.

USI Insurance Services has acquired Miami, Oklahoma-based Rogers Insurance Center, an independent brokerage founded in 1997 that specializes in commercial and personal risk insurance programs. Terms were not disclosed; USI said the acquisition expands its commercial and personal risk expertise in Oklahoma and brings Rogers' team and client relationships into the USI network.

Inszone Insurance Services has acquired Stephenson, Baggs & Guthrie, LLC (operating as Stephenson Insurance Center) of Woodward, Oklahoma. The deal expands Inszone's presence in Oklahoma and adds commercial insurance expertise—particularly in the oil & gas sector—while assuring clients their existing coverages and benefits will continue uninterrupted.

Inszone Insurance Services, a full-service insurance brokerage, has acquired Employee Benefits Advantage, a Broken Arrow, Oklahoma-based employee benefits agency founded by Kelli Caldwell. The acquisition strengthens Inszone's employee benefits capabilities and deepens its presence in the Oklahoma market while preserving existing client relationships.

Arthur J. Gallagher & Co. acquired Oklahoma City-based Scout Benefits Group LLC, an employee benefits consulting firm focused on health plan strategies for clients in Oklahoma. The Scout leadership team (Tiffany and Todd Davis) will remain in place and operate under Gallagher's Central region; terms were not disclosed.

Inszone Insurance Services has acquired Checotah Insurance Agency (Checotah, OK) and Wood Insurance Agency (Stigler, OK), marking the company's first physical presence in Oklahoma. The two community-focused agencies will join Inszone's national insurance brokerage platform as part of its ongoing acquisitive growth strategy.

Alliant Insurance Services has acquired Commercial Risk Group (CRG), a retail property and casualty insurance agency headquartered in Broken Arrow, Oklahoma. The acquisition expands Alliant’s presence in Oklahoma and brings CRG’s risk management expertise and local team into Alliant’s Alliant Americas division; CRG will operate as Alliant from its Broken Arrow headquarters.

Alliant Insurance Services has acquired The Arrow Group, a retail property and casualty insurance agency based in Broken Arrow, Oklahoma. The acquisition expands Alliant's presence and local capabilities in Oklahoma and surrounding areas and the Arrow Group will operate as Alliant Insurance Services from its Broken Arrow headquarters.

Alliant Insurance Services has acquired 3000 Insurance Group (3IG), a retail property & casualty and employee benefits agency based in Oklahoma City, Oklahoma. The acquisition expands Alliant’s presence in Oklahoma; 3IG will join Alliant Americas and operate as Alliant Insurance Services in Oklahoma City.

Risk Strategies, a national specialty insurance brokerage, has acquired International Insurance Brokers, Ltd. (IIB), a Tulsa-based full-service retail agency focused on commercial property & casualty and employee group benefits. Terms were not disclosed; the deal expands Risk Strategies' Central region presence and capabilities across Oklahoma, Kentucky and Texas.

Brickell L&A Holdings LLC, a portfolio company of the Brickell Insurance Group and an affiliate of PE firm 777 Partners, has entered into a definitive agreement to acquire Tulsa-based First Trinity Financial Corporation. The deal values First Trinity at 1.17x GAAP shareholders' equity at closing (excluding AOCI), is expected to close in Q4 2023 subject to regulatory and shareholder approvals, and will keep First Trinity operating from its Tulsa headquarters under existing management and employees.

Alera Group, a national insurance and wealth management firm, has acquired Keller Insurance Agency, a commercial property and casualty insurance brokerage that specializes in senior living and hospice facilities. Keller’s team — led by CEO Russ Keller and affiliated with Rich & Cartmill, Inc. — will continue serving clients; terms were not disclosed.

North American Casualty Company, affiliated with Applied Underwriters, has completed the acquisition of Oklahoma Property and Casualty Insurance Company (OP&C) following regulatory approvals. The deal positions OP&C to write admitted business in the South Central U.S., while Applied Underwriters will repurpose its Texas Insurance Company to focus on Excess & Surplus (E&S) lines nationally to support trucking and specialty programs.

BRP Group, Inc., through its BKS-Partners operating group (Baldwin Krystyn Sherman Partners, LLC), acquired substantially all assets of Insurance Risk Partners, LLC, an Oklahoma City-based provider of property & casualty insurance and risk consulting. The acquisition (announced April 1, 2020) brings IRP's ~$7.0 million in annual revenues and expands BRP/BKS's large-account and technical insurance capabilities in the energy, infrastructure and power sectors.

Hub International Midwest Limited, a subsidiary of HUB International Limited, has acquired the assets of The Holmes Organisation, a Tulsa, Oklahoma-based multi-line insurance brokerage. The Holmes team will join Hub Midwest and continue operating from offices in Tulsa and Little Rock to expand HUB Midwest's footprint in Oklahoma and Arkansas.