RGEB Acquires Competing Valley Insurance Broker ArcherWeissTuesday, September 3, 2013
Insurance broker RGEB Employee Benefits expects a 50 percent increase in revenues following its acquisition of group and individual clients from ArcherWeiss Insurance & Financial Services Inc.
Terms of the deal between RGEB in Canoga Park and ArcherWeiss in Woodland Hills were not disclosed. Both companies provide insurance services throughout Southern California.
The acquisition agreement will add 100 group clients and 250 individual and Medicare clients to RGEB’s insurance portfolio. RGEB will meet with its new group clients over the next four weeks, said President and Chief Executive Barry Cohn.
“This business further expands our market share in the Los Angeles area and represents an important step in our mission of becoming the premier employee benefits firm for small and medium-sized businesses in California,” Cohn said in a prepared statement.
RGEB serves clients throughout California, Nevada, New York and Arizona.