Jimcor Acquires Zaloom Associates

Montvale, N.J.-based wholesale broker Jimcor Agencies Inc. has acquired Zaloom Associates Inc. of Lodi, N.J. Financial terms of the transaction were not released.

Founded in 1993, Zaloom is a wholesale managing general agency operation writing with admitted carriers, both privately and publicly held, Jimcor said.

Gerald Zaloom, chief executive officer of Zaloom Associates, and seven employees will join Jimcor in its Montvale office.

Mr. Zaloom will join the firm as president of the newly established Zaloom Associates Division.

James Mastowski, Jimcor chief executive officer, said in a statement, “With Jimcor's 20-plus years of placing excess and surplus lines business and Zaloom's broad experience with admitted carriers, we are confident this merger will provide our clients with access to the markets they need with the quality of service they have come to expect. This transaction further develops our already solid brokerage and binding authority capabilities.”