Breckenridge Insurance Services, a Breckenridge IS company, has acquired the assets of International Placement Services (IPSICO), a wholesale insurance brokerage firm founded by Richard Eichhorn in 1981.
According to Breckenridge Insurance, IPSICO operations will continue to be based in St. Louis. The company offers primary and excess casualty coverage, executive liability and workers compensation products including primary and excess workers compensation.
Eichhorn will continue to work as a consultant for IPSICO and his initial assignment is to combine the public entity practices at the two companies.
With the acquisition of IPSICO it has completed four major acquisitions or strategic investments.
During the coming year, Breckenridge plans to complete acquisitions of additional specialty insurance operations in strategic markets that will be layered into the corporate infrastructure of brokerage, alternative risk, reinsurance, program administration and underwriting.
Breckenridge IS CEO Tracey Carragher said the acquisition of IPSICO is a major milestone coming at the anniversary of the company’s first year of operations.
“With IPSICO now a part of the Breckenridge organization, we will accelerate the growth of our wholesale brokerage operations throughout the Midwest and the US,” Carragher said.