Cypress Insurance Group has been acquired by AssuredPartners of Lake Mary, Florida.
The Fort Lauderdale-based Cypress Insurance will keep Terry Bond and Debbie Aricola in charge of the existing 20 team members, Insurance Journal reported. The team reached $3 million in annualized revenues.
AssuredPartners continues its expansion in the Florida marketplace with this acquisition, Regional President Jack Suber told Insurance Journal.
The independent agents at Cypress Insurance serve families and businesses in Boca Raton, Coral Springs, Fort Lauderdale and Weston. The agency offered auto and home insurance, with home, condo, boat and business and workers compensation insurance. The insurance offers a specialty in churches and religious institutions, charities and non-profit organizations, according to the Cypress Insurance website.
Jim Henderson and Tom Riley lead AssuredPartners, which was founded in March 2011, Insurance Journal reported. Through the acquisition and investment in insurance brokerage businesses, it has more than 180 offices in 30 states and Englad, with more than $1.5 billion in annualized revenue.
