Towerstone, a Dallas-based wholesale insurance division of IMA Financial Group, has acquired Jacobs & Associates, a general agent and excess and surplus lines broker based in Strongsville, Ohio.
The transaction was effective April 1, 2021.
The partnership opens new markets for Towerstone and Jacobs, while also creating new offerings for the companies’ retail broker partners and specialty risk clients.
Jacobs will join the IMA Financial Group and will retain its name. Its six team members will continue to operate out of the company’s office in Strongsville.
The acquisition is IMA Financial Group’s tenth in the past 12 months and serves as a springboard for Towerstone’s growth within Texas and beyond, the company’s announcement said. Towerstone has specialized in wholesale insurance products and services for the oil and gas industry for three decades, and serves additional industry verticals, as well.
Source: IMA Financial Group