Transaction adds to Relation’s presence in the East Region and further expands Relation’s footprint in Connecticut.
Relation Insurance Services (“Relation”), one of the largest and fastest-growing national insurance agencies, announced today it acquired the assets of Connecticut-based BAE, LLC dba Yerkes-Stephens Insurance. (“Yerkes-Stephens”). Yerkes-Stephens was previously part of Nationwide Mutual Insurance Company’s (“Nationwide”) exclusive distribution model. Terms of the transaction were not disclosed.
Yerkes-Stephens provides personal and commercial lines insurance solutions to clients throughout Connecticut and is headquartered in Guilford, CT. Yerkes-Stephens is a long-standing Nationwide exclusive agent that went independent and will join Relation’s Main Street/small commercial division. Andy Stephens will continue to lead Yerkes-Stephens under Relation.
“We are thrilled to welcome Andy and the entire Yerkes-Stephens team to Relation and are excited about growing our Connecticut footprint with them,” said Tim Hall, Executive Vice President and Head of Mergers and Acquisitions for Relation. “Andy and his team know the Connecticut marketplace extremely well and we look forward to serving their customers and growing our presence throughout the state.”
About Relation Insurance Services
Relation Insurance Services is an insurance brokerage that offers superior risk-management and benefits-consulting services through its family of brands across the United States. It is ranked by Insurance Journal within the top 35 largest agencies in the country by revenue and has approximately 1,200 employees across more than 125 locations nationwide. Relation is a privately held corporation backed by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across financial services and technology. Visit www.relationinsurance.com for more information.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220412005002/en/
Contacts
Contact for Relation Insurance Services, Inc.
Georgia Williams
georgia.williams@relationinsurance.com
(919) 847-1839
M&A CONTACT
Tim Hall, EVP & Head of M&A
Relation Insurance Services, Inc.
P: 312-714-7279
E: tim.hall@relationinsurance.com
