CJD Acquires Texas All Risk

CJD Acquires Texas All Risk

By Mark E. Ruquet

NU Online News Service, Jan. 6, 10:37 a.m. EST?CJD & Associates has acquired managing general agency Texas All Risk General Agency Inc. of Dallas.[@@]

Founded in 1983, Texas All Risk sells hard-to-place property-casualty insurance through a network of independent insurance agencies in Texas and Louisiana.

Jeffrey Watters, the founder of Texas All Risk, will remain as general manager, and Bruce Hart, an officer at the firm since 1984, will continue as operations manager. Terms of the transaction were not disclosed.

In a statement, Michael Hess, president of Brooke Corp., CJD's parent company, said the acquisition fits in well with existing operations in Overland Park, Kan., and Omaha, Neb., operating under the name Davidson-Babcock, a managing general agency.

CJD said the acquisition gives it access to a Web-based Internet agent support and rating program developed by Texas All Risk.

Brooke Corp. is a distributor of insurance and financial services to retail agents in 17 states, said Bill Greet, vice president of CJD. The company arranges the purchase of agencies and operates the agencies under a franchise arrangement by the principals. CJD services retail agents exclusive of Brooke Corp. franchise agencies, said Mr. Greet.