NU Online News Service, Jan. 19, 2:39 p.m. EST
Specialty insurance brokerage Alliant Insurance Services said it has acquired Almond Valley Insurance (AVI) Services Inc., a regional employee benefits firm based in Chico, Calif. Financial terms were not released.
Newport Beach, Calif.-based Alliant said AVI, headed by company founder and president Steven G. Trott, provides employee benefits services and recently expanded into property and casualty brokerage. The company has been in business for 20 years.
Tom Corbett, Alliant's chairman and chief executive officer, said AVI is a strategic acquisition allowing Alliant to expand its existing presence in Northern California. He noted that the firm's mix of commercial, tribal and public entity complements Alliant's existing presence in the area.
Mr. Trott said the merger would provide AVI with expanded resources to better serve its clients and expand its market.
AVI will remain based in Chico, but will assume the Alliant name. The company has 10 employees.
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