Alera Group — one of the largest independent insurance agencies in the nation — capped off its latest benefit brokerage acquisition with the purchase of Bailey & Co. on Wednesday, adding to Alera’s roster of over 50 broker and insurance companies.
Bailey’s clients range from mid-sized private businesses to publicly traded companies. Their brokers specialize in private exchanges, partially self-funded benefit plans and captive-based reinsurance programs, according to company executives.
“We look forward to our collaborative growth together as we continue to develop unique benefits strategies for all of our clients,” says Grant Bailey, managing partner of Cincinnati, Ohio-based Bailey.
Alera purchased more than a dozen independent firms this year. Its most recent benefit broker acquisitions from May include Dickerson Employee Benefits in Los Angeles; Courtney Group, a property and casualty insurer located in Highland Park, Illinois; Strategic Employee Benefit Services of Pittsburgh and Benefit Plan Strategies, headquartered in Tulsa, Oklahoma.
May’s merger was
“This is a great opportunity for us to enhance the client experience both by tapping into Bailey & Company’s expertise and by adding Alera Group’s resources to Bailey & Company’s practice,” says Alan Levitz, CEO of Alera Group. “Their firm’s dynamic teamwork and professionalism is an excellent fit for our collaborative national culture.”
The company plans to continue expanding its reach to other regions in the U.S. Since May, Alera has been engaged in discussions with 40 other companies — with revenues ranging from $2 million to $40 million.
