Acrisure rebranding effort draws in First State
WILMINGTON — Acrisure, a financial technology company and insurance brokerage, is adding Delaware to its mid-Atlantic region as part of a rebranding global effort — and seeking possible growth opportunities in the First State.
Kicking off the new year, Acrisure announced it would start a regional organizational structure for the area. Geoffrey Goldwater will serve as managing partner for Acrisure’s Mid-Atlantic region, which includes Delaware, Pennsylvania, Maryland, Virginia and West Virginia.
With a presence in 22 countries, Acrisure is actively looking to acquire agencies that target the greater Delaware area. Based in Grand Rapids, Mich., the company focuses on combining human and technology to offer insurance, reinsurance, mortgage origination and other services.
“Acrisure’s transformation has been propelled by the enthusiasm of our outstanding people. Our team in the Mid-Atlantic region are similarly excited to come together as one,” Acrisure CEO and Chairman Greg Williams said in a statement. “This is a terrific way to kick-off 2024.”
“I’m honored to lead Acrisure’s Mid-Atlantic Region and appreciate Greg and the leadership team’s confidence in me,” Goldwater said in a prepared statement. “Having worked and lived in the area, I’m deeply familiar with the opportunities and challenges facing people and businesses here. Together as one region we’ll bring Acrisure’s extraordinary advantage, rooted in people and technology, to a broad audience.”
Acrisure was founded in 2005 and has quietly grown over the last decade by acquiring small and medium size firms. In the last nine years, its revenue has grown from $38 million to $4.4 billion. Trade publication Business Insurance noted that it completed 116 deals in 2022 and 115 deals in 2021, though many of these firms were still operating under their own names until the rebranding and restructuring effort was announced in mid-2023.
Today, the company has more than 17,000 employees across its vast network.
Acrisure does not have any property and casualty insurance or benefit agencies based in the First State, but representatives told the Delaware Business Times that it does serve more than 600 clients in many industries in the state.
Current Acrisure locations close to Delaware include: United States Insurance Services in Linthicum, Md., CIMA Companies, Inc. in Columbia, Md. Potomac Insurance in Rockville, Md., Odell Studner Group, and Doyle Alliance Group in Wayne, Pa., and Rigg Darlington Group in Exton, Pa.
“Acrisure views the state of Delaware as being filled with opportunity,” Goldwater said in a statement to DBT. “With a population of over 1 million and 124,732 businesses with a growth rate of 4.6% — and ranking No. 2 in the nation — our product offerings for both individuals and business align perfectly.”