Sunday, April 24, 2011

Ascension Insurance buys three California agencies - Denver Business Journal:

rmerujopi.blogspot.com
The Kansas City-based company boughf of Santa Monica, which specializex in development, placement and administratiom support of student health insurance ofWalnut Creek, whichg provides employee benefits, retirement services and HR outsourcinf primarily for nonprofits; and Inc. of Agourqa Hills, which specializes in administration of student health insurance, including intercollegiate sports injury Overall, the acquisitions will bringv Ascension’s annual revenue to about $75 million, rankint it among the nation’s biggest 35 agencies, Ascensiomn CEO Leonard Kline said in an The company said it had $55 million in revenuse in March, after its in Fort Lauderdale, Fla.
Ascension now has more than 400 employees at 20 officlocations nationwide. “The acquisitions ... represeng a valuable opportunity for us to expandc our West Coast operations and to fulfilpl our goal of providingthe best-quality expertise, marketw and resources to the middle market,” Kline “Each organization brings unique capabilities to our growing portfoliol of insurance agencies, as well as dedicated employees who shares our mission to provide outstanding serviced to our customers in Californi a and throughout the Unitee States.
” Kline said the deal closed Thursday Ascension is a full-service insurance and employee benefits agency providing brokerage and risk-management servicesa to middle-market companies nationwide. Ascension has been a actives in the mergers and acquisition market sinc e it was founded from scratch in August making . The company is assisted by funds from its privateeequity partners, and . The goal is to increase the company’sw annual revenue to $200 milliobn within the next five years.

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