Published On: March 2nd, 2023Categories: Delaware News
IFS Benefits sold to international insurance broker

AssuredPartners has acquired IFS Benefits, LLC, based near Newark.

Founded in 2001, IFS specializes in providing employee benefits insurance products and services to clients in Delaware. The staff of 17 will remain under the operational leadership of former owners Steve Blewitt and Bob Sonchen.

“At IFS, we have always been committed to delivering customized benefit solutions with thoughtful strategic planning, valuable professional services and web-based HR technology that promote lasting, trusted partnerships with our clients,” said Blewitt. “In joining AssuredPartners, we will only strengthen those relationships by continuing to provide the same local and personal touch our clients have come to appreciate and combine it with the resources and expertise of a larger operation.”

“Excellent service, integrity and dedication have always been the cornerstones of our business,” said Sonchen. “We are devoted to continuously expanding our knowledge and expertise in employee benefits and believe joining the team at AssuredPartners, a nationally recognized leader in the benefits arena, will give us that opportunity.”

AssuredPartners Regional President Brian Bair stated, “Steve, Bob and their talented team have evolved IFS into one of the top independent agencies for employee benefits in the area. We are excited to join forces to continue building our presence in Delaware and look forward to the growth ahead.”

“We are delighted to bring the team of professionals at IFS to our operation,” said AssuredPartners President, Randy Larsen. “The Mid Atlantic is ripe with opportunity, and we believe that in joining forces with IFS, we’ve taken an important step in optimizing our employee benefits operations in the region.”

Further information on IFS Benefits is available at  https://ifs-benefits.com/

AssuredPartners is the 11th largest insurance broker in the nation. The IFS deal part of a trend toward smaller agencies in the fragmented industry selling to national firms that are funded through private equity in what are sometimes known as roll-ups. Acquiring companies can use economies of scale to add services and lower overhead costs.

Reasons for selling can range from access to a wider variety of products and services to no future successors among family members or staff.

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