US-based Alera Group has acquired Orion Risk Management Insurance Services, a full-service commercial insurance broker and risk management firm, for an undisclosed price.
Established in 2017, Alera Group is an independent insurance agency, which is engaged in providing employee benefits, property and casualty, risk management and wealth management to various clients across the US.
The acquisition of Orion expands its benefits and risk management expertise, said the insurance agency, which has a workforce of more than 1,000 employees.
Alera Group CEO Alan Levitz said: “We are thrilled to welcome Orion to Alera Group, and we look forward to their valuable contributions to our collaborative culture.
“Their remarkable industry experience and powerful team strengthens both our Property and Casualty practice and our Benefits practice.”
Orion, which was formed in 2001, has three locations in Southern California at Newport Beach, Corona and Pasadena.
The insurance broker provides a range of insurance coverage across property-casualty, workers’ compensation, and employee benefits. It also offers specialty services such as claims management, captive implementation, self-insured implementation plans, and also programs specific within industries like construction, manufacturing, and wholesalers.
Orion managing partner Clifford Davis said: “As an Alera Group company, we look forward to further elevating the client experience with the national resources that are now available to us.
“Our ultimate goal is to serve our clients with industry-leading tools and service, and as part of Alera Group, we will be able to do that more than ever before.”
Last month, Alera Group announced the acquisition of two new insurance companies – Distinctive Insurance and GLB Insurance Group of Nevada, for an undisclosed price.
Based in Southern Nevada, Distinctive Insurance is an employee benefits consulting and insurance company. It offers customized benefit solutions for its clients.
GLB Insurance Group of Nevada, which has been in operations since 1941, is a full-service insurance agency based in Las Vegas. The company caters to more than ten different industries with its expertise in the areas of commercial insurance, life and health insurance, personal insurance, workers compensation and surety bonds.