Inszone Insurance Services has expanded its US footprint with the purchase of Smith & Company Insurance, an Arkansas agency.
Financial terms of the deal remain undisclosed.
Smith & Company’s history goes back to 1904. The Smith family bought the business in 1971 and remained involved in its development over the following decades.
The agency is now jointly owned by Mark Smith, Drew Higginbothom and William Smith.
Under their ownership, the business has expanded while continuing to serve local customers.
“As we looked toward the future, we knew we needed additional resources and assistance to continue to grow and remain relevant in our marketplace,” said the co-owners.
“We spoke with several other suitors, but Inszone was the perfect fit for us. They truly care about hometown local business and treat their employees exceptionally well.”
Smith & Company Insurance has built a specialist aviation arm and also established operations in commercial agriculture. In addition, it has written insurance policies for a number of banks across the region.
Inszone CEO Chris Walters said: “Smith & Company Insurance brings a remarkable legacy and highly specialised industry knowledge to our team.
“Mark, Drew, William, and their entire staff have built an incredible reputation in Arkansas. We are thrilled to welcome them to Inszone and provide the expanded national resources they need to continue their outstanding work for their clients.”
The acquisition follows Inszone Insurance Services’ acquisition last month of James R. Vozar Insurance Agency, a US business based in Michigan with offices in Athens, Quincy and Union City.
That deal extended Inszone’s presence in the Midwest and added further agricultural insurance experience.
“Inszone buys Arkansas insurer Smith & Company ” was originally created and published by Life Insurance International, a GlobalData owned brand.
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