Dallas-based wholesale insurance broker, Towerstone, has finalized the acquisition of Fortuna General Insurance Agency, headquartered in Simi Valley, California. The strategic partnership marks a significant step forward for both companies, fostering increased growth and enhanced capabilities within the insurance sector.
The acquisition presents Towerstone with a compelling opportunity to capitalize on Fortuna’s well-established carrier and broker relationships, as well as its profound expertise in the dynamic property insurance market. By leveraging Fortuna’s extensive network, Towerstone is poised to amplify its service offerings and broaden its reach across the industry landscape.
Following the acquisition, Fortuna General Insurance Agency will continue its operations as a distinct entity under the name “Fortuna General Insurance Agency, a Towerstone company.” This move underscores Towerstone’s commitment to preserving Fortuna’s legacy while harnessing its valuable insights to enrich the broader operational framework.
Fortuna General Insurance Agency, as a privately held independent insurance wholesaler, has distinguished itself with a dedicated team of eight members specializing in preferred and challenging property risks. This includes a focus on intricate property segments such as apartment complexes, lessor risks, and residential apartments. Their proficiency in navigating these complex areas has established Fortuna as a reputable player within the market.
Conversely, Towerstone, a subsidiary of IMA Financial Group, has solidified its position as a prominent wholesale insurance broker. Boasting a workforce of over 50 professionals, Towerstone is steadfast in its commitment to serve clients across the United States.
As the partnership between Towerstone and Fortuna General Insurance Agency unfolds, industry watchers eagerly anticipate the fusion of expertise, resources, and market knowledge that promises to deliver heightened value to clients and stakeholders alike. This acquisition serves as a testament to Towerstone’s dedication to innovation and strategic growth, setting the stage for a mutually beneficial trajectory in the insurance landscape.
