After over 25 years of offering specialized transportation insurance, an MGA based in Winston-Salem is joining forces with another agency in South Florida that is known for offering insurance solutions to niche segments.
Trucking insurance agency Piedmont Transportation Underwriters recently announced that it has sold its assets to First Light Program, which is headquartered in Dania, FL.
Terms of the deal were not disclosed.
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Following the purchase of Piedmont’s assets, First Light will have a second location in the Winston-Salem region. It will also boast a total of 46 employees due to the acquisition.
Jim Butler, founder and owner of Piedmont Transportation Underwriters, as well as his associates will continue to operate at their existing office.
“To align our team with an organization that takes a similar, conservative underwriting approach and has such a strong foothold in the transportation sector will allow us to grow profitably with our carrier partners in the years to come,” Butler said in a release. “Their strong presence in trucking insurance is well documented, and joining forces with them will allow us to expand our market share due to their stellar reputation, breadth of product offerings and excellent market relationships.”
“To survive over a quarter century in the trucking insurance space, given the significant volatility that has taken place in this class of business over the years, is a testament to Piedmont’s disciplined underwriting approach, knowledge of their ever-changing marketplace and the superior talent of their tenured associates,” added First Light CEO Anthony Johnson. “We are thrilled to have Jim and his staff join us in making First Light an even stronger organization.”
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