Iselin, NJ, July 14, 2022 (GLOBE NEWSWIRE) — Global Insurance policy Friends LLC (“WIA”), a top 50 U.S. insurance plans broker, presented right away that it received the Gerard P. Smith Insurance policy Corporate (“Gerard P. Smith”) of Webster, NY on June 1, 2022. Words of the transaction weren’t disclosed.
In 1966, Gerard P. (Jerry) Smith primarily based his corporate on a willpower to provide his customers with the very best possible level of carrier. Since then, the Gerard P. Smith Insurance policy Corporate has grown into one of the biggest independent insurance plans corporations inside the space. Jerry’s son, Tom Smith, joined the company in 1977 and feature change into the company president at his father’s retirement in 1993. Tom’s brother, Kevin Smith, will also be involved inside the family endeavor, serving as its vice president. Continuing the customized even further, Ian Smith, a third-generation member of the Smith family grew to become a companion inside the corporate in 2012 and took over as president and CEO in 2017.
“We’ve got been born proper right here, we paintings proper right here, and we keep proper right here,” says Ian Smith, President and CEO, Gerard P. Smith. “We’ve got now a vested interest in this staff and look forward to serving its citizens for a chronic, very very long time as part of Global Insurance policy.”
Moreover raised in Webster used to be Global board member Tom Ealy, who has known the Smith family, from patriarch on down, for plenty of of his existence. “The Gerard P. Smith Corporate’s deep staff ties and strong, third-generation control is the epitome of what Global seeks in a merger companion. We look forward to providing the corporate and its customers with the resources sought after to continue what Jerry started and what Tom, Kevin, and Ian have so impressively built upon,” says Ealy.
“On behalf of the Global family, I’d like to extend a warmth welcome to the Gerard P. Smith Insurance policy Corporate,” says Rich Eknoian, CEO and Co-Founder of WIA. “They’ve at all times put a over the top price on providing their customers with personalized carrier. They’ll now provide their customers a lot more products and services.”
Giordano, Halleran & Ciesla introduced licensed suggest to WIA, and Fortrust Diligence steered them at the transaction. Merzbach & Solomon, P.C. introduced licensed suggest to Gerard P. Smith. No other advisors, diligence corporations or licensed suggest were disclosed.
About Global Insurance policy Friends LLC
Global Insurance policy Friends LLC (Global) is headquartered in Iselin, N.J., and is a nationally ranked, full-service insurance plans staff providing other people and firms with top products and services all the way through personal and trade insurance plans, employee and executive benefits, retirement and financial corporations and human capital management choices. Since its founding in 2011, Global has achieved 153 acquisitions and serves its purchasers from more than 250 places of work all the way through america. Global is ranked #34 at the 100 Biggest Agents of U.S. Endeavor tick list by means of Endeavor Insurance policy, ranked #2 at the Fastest Emerging Agents tick list by means of Endeavor Insurance policy and is a Top-50 ranked personal lines corporate by means of Insurance policy Magazine. For additonal information, please move to www.worldinsurance.com.