Mergers & Acquisitions and Insurance and Insurance Brokers and Health Care & Insurance

Tobias Insurance agency merges with Florida firm

January 10, 2013

Tobias Insurance Group Inc., one of Indianapolis’ largest independent insurance brokerages, has merged with Florida-based AssuredPartners Inc.  

Terms of the deal, announced Thursday, were not disclosed.

Tobias will retain its name, and company founder Nick Rutigliano will continue to lead the insurance brokerage that he started in 1973.

With $351 million in premiums written in 2011, Tobias ranks as the area’s eighth-largest independent insurance brokerage, according to the most recent IBJ statistics. The company has 45 employees, who will retain their jobs, Rutigliano said.

AssuredPartners has more than 1,700 employees in 63 offices in 20 states, and posts about $230 million in annual revenue.
 

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