Keenan & Associates Set to Join AssuredPartners, Inc.
TORRANCE, California, March 9, 2017
Keenan & Associates is proud to announce that it has entered into an agreement to join AssuredPartners, Inc. Founded in 2011, AssuredPartners has grown quickly to become the 13th largest brokerage in the United States. Keenan’s 700+ employees will continue operations under the current leadership of President and Chief Executive Officer, Sean Smith.
AssuredPartners Chairman and Chief Executive Officer, Jim Henderson, says, “We focus on partnering with agencies with strong management that demonstrate a dedication to growth and building lasting relationships – we have found this with Keenan.”
Keenan generated over $170M in revenue last year making them the largest agency in the AssuredPartners family. Keenan will continue its focus on the public entity and healthcare markets and will provide additional distribution for AssuredPartners in California.
Tom Riley, President and Chief Operating Officer of AssuredPartners, states, “Keenan’s expertise and ongoing commitment to the public entity and healthcare markets, combined with AssuredPartners’ resources, will enable the combined company to continue to grow and serve our customers.”
Sean Smith and his current management team will continue to direct Keenan’s operations in its nine offices throughout California and Smith will be joining the Board of Directors of AssuredPartners.
“This partnership is extremely exciting for Keenan. We will have access to additional capital and a national footprint that will enable us to grow,” says Smith. “There is a strong cultural alignment between our organizations and respective leadership teams. We will be able to continue our tradition of providing excellent service, deep expertise and innovative products to even more clients throughout the country.”
The closing of the transaction is subject to customary closing conditions and regulatory approval and is expected to be finalized in late March or early April 2017.
About AssuredPartners, Inc.
Headquartered in Lake Mary, Florida and led by Jim Henderson and Tom Riley, AssuredPartners, Inc. acquires and invests in insurance brokerage businesses (property and casualty, employee benefits, surety and MGU’s) across the United States, Canada and in London. From its founding in March of 2011, AssuredPartners has grown to over $670 million in annualized revenue and continues to be one of the fastest growing insurance brokerage firms in the United States with over 180 offices in 30 states, Canada and London. Since 2011, AssuredPartners has acquired more than 170 insurance agencies.
Founded in 1972, Keenan is ranked in the top 25 insurance consulting and brokerage firm in the U.S. Keenan is dedicated to providing superior insurance products and services to schools, community colleges, healthcare organizations and municipalities for employee benefits, workers’ compensation, risk management, and property and liability. With headquarters in Torrance, CA, Keenan has a staff of more than 700 insurance specialists and branch offices in Riverside, San Clemente, Oakland, San Jose, Rancho Cordova, Redwood City, Pleasanton and Eureka.