Specialty insurance brokerage firm Alliant Insurance Services, Newport Beach, Calif., has acquired New York City-based T&H Group, a regional full-service insurance brokerage firm, which is of the 40 largest commercial property and casualty and employee benefits brokerages in the U.S.
T&H also offers insurance brokerage capabilities for a variety of other businesses and industries, including financial services, health care, manufacturing, hospitality, nonprofit, retailers, wholesalers, technology, transportation and private equity.
T&H Group CEO Walter Harris, who has been with T&H for more than 30 years, is named the vice chairman of Alliant and is an Alliant senior management team member.
“The acquisition of such a well-established and highly respected insurance brokerage company as T&H Group represents tremendous opportunity for Alliant Insurance Services,” says Alliant chairman and CEO Tom Corbett. “T&H and Alliant are great strategic, operational and philosophical matches for each other on nearly every level of business, from diversity of services to the specialized industries we serve, to the size and type of clients we target, to our respective commitments to providing highly responsive, personalized service.
“T&H has strong client relationships with an average client retention rate of more than 95 percent, which is solid evidence of the company’s ability to meet or exceed client needs and expectations,” Corbett explained. “In addition, the highly experienced management team of T&H — with senior executives averaging more than 25 years of industry experience — will be a major asset in strengthening Alliant’s service delivery platform in the Northeast U.S. and expanding all areas of our business.”
Harris says the Alliant acquisition makes “great business sense” because provides expanded resources, market relationships, and specialized services, which, he expects, will enhance the value delivered to clients.
Acquisition terms were not disclosed.