Venbrook Group bolsters East Coast presence with acquisition
Venbrook Group, one of the largest independent insurance sales and services companies in the country, has announced the acquisition of InterContinental Insurance Brokers (IIB), a full-service property and casualty insurance broker and risk management company based in Boston. The acquisition comes in the midst of a period of rapid expansion after Venbrook entered into a partnership with private equity firm Parthenon Capital last year.
IIB has been providing insurance and risk management services for commercial real estate and wealthy private clients for more than 30 years. The acquisition will enhance Venbrook’s expertise in commercial real estate, including its proprietary real estate-focused specialty programs. The deal also strengthens Venbrook’s presence in New England.
“We couldn’t be more excited to join the Venbrook team through this transformative partnership,” said Thomas E. Sleeper, founder of IIB. “Venbrook has built a great culture and reputation that fit perfectly with IIB’s approach to delivering world-class service and risk management solutions to its customers. My team and I will continue to provide the same customer-centric service that we have known and trusted from IIB for the past three decades. We look forward to leveraging Venbrook’s strength in bespoke real estate MGA programs and claims management and customization services to bring even more value to our clients in the months and years to come. “
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Sleeper will continue to lead IIB’s business and become managing director of Venbrook Insurance Services Northeast Real Estate, Venbrook said.
“We are excited to work with Tom as we continue to invest in our growing stable of high-profile professionals on the East Coast,” said Jason Turner, Founder and CEO of Venbrook. “Tom and his team at IIB have built an extraordinary business by implementing simple basic principles: excellent customer value through trusting relationships. From customizing comprehensive insurance packages to their aggressive, hands-on strategy of successfully settling claims on behalf of customers, IIB’s approach to customer service is completely in line with Venbrook’s. IIB perfectly complements and accelerates our growing offering of nationwide commercial real estate risk management services. “