Renaissance Alliance acquires ANE and United Valley
The addition of these two independent insurance networks brings an additional $2.4 billion in represented premium to Renaissance.
Renaissance Alliance, the Agency Growth Engine, announced the acquisitions of Agency Network Exchange (ANE) and United Valley Insurance Services on Tuesday, January 4, 2022.
While both ANE and United Valley will maintain their current brands and leadership, ANE’s 60 member agencies and United Valley’s 92 member agencies will bring Renaissance’s nationwide alliance of members to 273 independent agencies, representing $3.6 billion in premium.
This acquisition will also widen the reach of Renaissance across the country. In addition to the agencies they already represented in Connecticut, Florida, Georgia, Massachusetts, New Hampshire, New York, Rhode Island and Vermont, they will now add agencies in Arizona, California, New Jersey and Pennsylvania.
“The addition of ANE and United Valley will help Renaissance deliver more value to all of our member agencies, further demonstrating our commitment to helping them grow,” Renaissance Alliance’s Chairman and CEO Kevin Callahan said in a press release. “Our overarching strategy is focused on strengthening the capabilities of our member agencies and providing them everything they need to best serve their clients. Together we will help our members enhance their profitability while maintaining their independence.”
ANE was founded by two New Jersey based agencies in 2009, and has since grown to represent $1.4 billion in premium.
Fresno, California- based United Valley Insurance Services began in 1983 with a network of seven local member agencies, and now represents $1 billion in total written premium.
According to their release, Renaissance Alliance, which is a portfolio company of Long Arc Capital, works with property & casualty insurance agency owners to increase premium, revenue and agency value. Nearly 30 independent agencies joined Renaissance in 2021. There is no entry or exit fee for member agencies, and they all remain independently owned and operated.
“We acquired Renaissance in 2018 and over the last three years have invested heavily in talent, operations, and service to provide an industry-leading product to our member agents,” said Gaurav Bhandari, Managing Partner of Long Arc Capital in the press release. “With the core infrastructure now in place, we are excited to scale the business further through these two acquisitions that will not only give us presence in the important Mid-Atlantic and Western U.S. markets, but also, given our aggregated premium, give us scale to further improve the value proposition for our member agents.”