Beecher Carlson, an insurance brokerage and risk management consulting company, announced today that it has acquired Lane & Associates Inc., a commercial property and casualty insurance agency in Atlanta.
According to Atlanta-based Beecher Carlson, the Lane & Associates acquisition complements the property and casualty capabilities of its Atlanta production team and "provides tremendous opportunities for augmented services to Lane's clients by leveraging the national resources, analytical capabilities and technical expertise of Beecher Carlson."
The specific financial terms of the transaction were not disclosed; however, the consideration for the transaction consisted of a combination of cash and Beecher Carlson stock, an announcement said. Lane & Associates personnel will remain with the company and operate from Beecher Carlson's corporate facility in Atlanta, under the Beecher Carlson brand.
Beecher said the acquisition of Lane & Associates is consistent with its strategic growth plan to partner with firms interested in a new and expanded service platform. In May, Beecher acquired the oldest and largest independently-owned risk management agency in Oregon, JBL&K Risk Services, which expanded Beecher Carlson's footprint to the Pacific Northwest and provided entry into employee benefits. Beecher also acquired Denver-based RiskCap, a risk consulting and captive management firm, in August 2004.
Founded in 1979 by Robert O. Lane, Lane & Associates Inc. is a full-service property & casualty insurance agency. The firm has focused on large commercial property and casualty accounts.
Beecher Carlson, an insurance brokerage and risk management firm, said it assesses and models risk in a way that supports each client's unique operational culture and key risk differentiators. A privately held company since 1981 with corporate offices in Atlanta, Beecher Carlson also maintains operations in Bermuda; Boston; Irvine, Los Angeles, Walnut Creek and Woodland Hills, Cal.; Denver; Honolulu; Portland and Medford, Ore.; Minnesota, New York; Nashville, and Burlington, Vt.
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