XPT Specialty announced today that it has acquired Insurance Brokers Incorporated (IBI), headquartered in Indianapolis, Indiana, in a move that continues a series of acquisitions for the company.
IBI is a wholesale insurance broker and general agency that offers agents a broad range of personal, commercial, and E&S insurance products. The company was founded in 1974 and is now led by Glen Pomeroy offering specialty insurance throughout the Midwest and surrounding states. IBI will become part of the XPT Specialty’s Binding and Small Commercial Brokerage division headed by Kyle Stevens.
“Glen Pomeroy and his team of experts will make a great addition to our collaborative team. This acquisition offers us the opportunity to expand our personal lines capabilities, offer more products in more states, and expand our agricultural and transportation expertise. Our collaborative environment will allow our clients to benefit through expanded skills,” stated Kyle Stevens, Group Executive Vice President. XPT Specialty shows no signs of slowing down and continues to expand delivering access to the latest industry developments and innovations through product and professional growth while multiplying client and customer value at every step.
“This partnership is the result of extensive talks between IBI and XPT. From a strategic and cultural perspective this is an outstanding fit,” said Glen Pomeroy, President of IBI. “We feel the opportunity to make IBI products available to XPT partners nationwide while bringing XPT markets and expertise to the Midwest is exceptional. We will be able to provide more opportunities for our current and future agency and carrier partners, preserve IBI’s culture of customer service, and work with XPT partners to improve the depth and breadth of our market facilities.”
This also marks the ninth acquisition by XPT Specialty. In addition to acquiring WSS back in 2017, XPT Specialty has also successfully acquired WE Love & Associates, SVA Underwriting, Klein & Costa, Sierra Specialty, LP Risk, Houston Surplus Lines, and S&H Underwriters.
About XPT Specialty
XPT is your eXpert Partner Team for wholesale commercial insurance. XPT brings together underwriting and wholesale brokerage firms across many specialty lines through acquisitions, new product development, and partnerships, and stands apart by delivering expertise through this collaborative culture. www.xptspecialty.com
XPT Specialty is a proud member of these fine trade associations: WSIA and Target Market
Contact: Kyle Stevens 469-252-7875 kyle.stevens@xptpartnersllc.com
About Insurance Brokers Incorporated
Insurance Brokers Incorporated (IBI) is a general agency/wholesaler located in Indianapolis, Indiana. IBI provides market access and growth opportunities for insurance agencies and is licensed in Indiana, Illinois, Ohio, Michigan, Pennsylvania, Tennessee, Missouri, Iowa, and Colorado. To learn more about IBI, please visit our website at www.GoIBI.com or email Marketing@GoIBI.com.
Contact: Glen Pomeroy 800-536-4783 gpomeroy@goibi.com