Relation Insurance Grows in East, Acquiring Ex-Nationwide Agency in Connecticut

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California-based national agency Relation Insurance Services reports it has acquired the assets of Guilford, Connecticut-based Yerkes-Stephens Insurance.

Yerkes-Stephens was previously part of Nationwide Mutual Insurance Co.’s exclusive distribution network.

Terms of the transaction were not disclosed.

Yerkes-Stephens provides personal and commercial lines insurance to clients throughout Connecticut. It is a long-standing Nationwide exclusive agency that went independent and will join Relation’s main street/small commercial division.

Andy Stephens will continue to lead Yerkes-Stephens under Relation.

Relation Insurance Services is ranked by Insurance Journal within the top 35 largest agencies in the country by revenue and has approximately 1,200 employees across more than 125 locations nationwide. Relation is a privately-held corporation backed by Aquiline Capital Partners, a private equity firm.

Topics
Mergers & Acquisitions
Connecticut

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