Napa Valley Insurance coverage Companies has been acquired by an East Bay insurance coverage company that’s ranked among the many nation’s prime companies.
Walnut Creek-based Relation Insurance coverage Companies Inc. on Tuesday introduced the acquisition of the Napa-based companies belongings, efficient Dec. 1, 2022. Co-owners Mike Hogin and Pam Hogin will proceed working the places of work in Napa and Sonoma. Different phrases of the transaction weren’t disclosed.
“We’re elated to develop our choices and companies via this partnership,” stated Pam Hogin, co-owner of Napa Valley Insurance coverage Companies, within the announcement Jan. 10. “By becoming a member of Relation, we’re having access to an unlimited community of carriers and instruments in order that we are able to tailor plans and companies to the particular wants of our clients.”
Based in 1946, Napa Valley Insurance coverage’s companies embody industrial strains, private strains, and worker advantages. Among the many carriers the unbiased agency stated it has written insurance policies for are Nationwide’s Allied subsidiary, Safeco Insurance coverage and Travellers.
Tim Corridor, president of Relation, stated Napa Valley Insurance coverage “will play an necessary position in increasing Relation’s attain within the west.”
Corridor joined in 2019 when Aquiline Capital Companions invested within the firm. Since then, Relation has accomplished over 70 strategic acquisitions, leading to a tripling of income, the corporate stated.
Relation was ranked by commerce publication Insurance coverage Journal final 12 months at No. 23 on its property and casualty company record, with $183.7 million in income for such insurance policies and $34.9 million in different income. The agency stated it has about 1,350 staff in practically 140 areas nationwide.