CAA acquires seven new agencies, expands into new state
Apr 26, 2019
| Insurance Business
Combined Agents of America (CAA) has revealed that it has spent the last few months making acquisitions and even establishing a presence in a new state. The agency partnership group has established its first foothold in Colorado with the acquisition of Renaissance Insurance Group in Windsor, CO.
CAA CEO AJ Lovitt said in a statement that Colorado is an “exciting addition” to the group’s portfolio because the state has one of the fastest growing economies in the US. CAA also expanded its presence in the central region with the addition of three more agencies in Nebraska, namely Agri-City Insurance in Norfolk, Plummer Insurance in Bridgeport and Arnold Insurance in Arnold, NE. The acquisition effectively doubles the number of member agencies CAA has in the state. “Our agency is elated to join a group that aligns so well with our philosophies and goals,” Plummer Insurance president Andrew Plummer said in a statement on the deal. “This partnership will provide us the additional resources we need to continue evolving as an agency, while simultaneously allowing us to preserve our independent identity.”
The group also doubled its member agencies in Missouri by purchasing Connell Insurance in Branson and First State Insurance Agency in Farmington, MO. “CAA’s values align with our pledge to safeguard and protect what matters most for our clients. We are excited to learn and share ideas with the members,” commented First State Insurance Agency president Al Jannett. CAA’s seventh acquisition for the year was another Texas agency – Boyd, Shackelford, Barnett & Dixon (BSBD) in Plano, TX. “Our agency found that joining a group with the firepower of CAA really allowed us to have the resources of a much larger firm, while keeping our independence and ownership structure intact,” remarked BSBD president Lucas Boyd. Related stories: