Insurance Specialty Group, LLC, (ISG) the parent company of Pacific Wholesale Insurance Brokers, said it has acquired El Segundo, Calif.-based E.L.M. (Executive Liability Managers) Insurance Brokers. Transaction terms were not released.
Atlanta-based Insurance Specialty said the deal would create a wholesale brokerage firm with combined revenue of $150 million.
The company said E.L.M. has 20 employees throughout California and the combined operations will bring together a total of 10 offices throughout the United States. E.L.M. will continue to operate under its own name as part of ISG.
ISG was formed in 2003 and created Pacific Wholesale as a wholesale insurance broker and managing general agency offering property, casualty and professional lines. E.L.M. Insurance Brokers, founded in 1995, is a wholesale insurance brokerage that provides commercial, professional liability and health care coverage.
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