CBM Insurance Agency acquires Insurance Associates Incorporated
Effective January 1st, 2023, CBM Insurance Agency of New Castle, DE is pleased to announce its acquisition of Newark DE based Insurance Associates Incorporated (herein known as IAI).
Through this acquisition, CBM will acquire all of IAI’s current clients, insurance contracts, and retain all current employees.
Formed in 2008, CBM Insurance specializes in commercial insurance, personal insurance, and bonding services for clients located in the Mid-Atlantic region. Their slogan, “Partnerships built on relationships”, speaks to how they treat and value each of their clients in providing them with insurance solutions to match their exact needs.
Moving forward, CBM will be known as the CBM Insurance Group.
“The last few years have presented us with an opportunity to supplement our organic growth through acquisitions. Adding IAI gives us another well-established agency with roots in the local community for over 40 years. Their commitment to service blends well with how CBM has operated for the last 15 years” explains Brandon Baffone, President of CBM Insurance. “It’s a blessing to be able to keep our small business, family atmosphere while we approach being one of the largest privately owned brokerages in the state of Delaware”.
CBM Insurance will now serve over 10,000 commercial and personal insurance clients with a continued commercial focus on construction, real estate, hospitality, habitational, and non-profit clients. They will continue to be active in the local community while taking part in many trade associations (Delaware Restaurant Association, Associated Builders and Contractors, Delaware Contractors Association, Delaware Apartment Association, Delaware State Dental Society, and the Delaware Alliance for Nonprofit Advancement, just to name a few).
For more information, please visit their website at www.cbmins.com to learn about the CBM Insurance Group, their team, partner carriers, and offerings.
Written by Matt Welding