Acquisitive insurance brokerage Acrisure LLC on Monday said it will implement a regional organizational structure for its operations and roll out a corporate branding strategy that will see the Acrisure name applied to its units.
Acrisure, which was founded in 2005 by CEO Gregory L. Williams, has grown rapidly over the past 10 years and is the world’s eighth-largest brokerage, according to Business Insurance’s most recent ranking.
The Grand Rapids, Michigan-based company has consistently been the most active acquirer of rival agents and brokers over the past several years but has often allowed purchased agencies to continue under their existing name.
“Today marks the next phase in Acrisure’s story,” Mr. Williams said in a statement. He added “the time is right to increasingly operate under the Acrisure flag.”
In addition, the brokerage will organize its operations by regions, which will be led by existing Acrisure leaders, the statement said.
The managing partners will report to Grahame Millwater, who was named to the newly created role of chief revenue officer, and Sozon Vatikiotis, the company’s chief operating officer and chief administrative officer.
Previously, Mr. Millwater, who joined Acrisure through its 2018 purchase of Beach & Associates Ltd., was president of global insurance.
In December, Acrisure announced a reorganization of its insurance brokerage leadership.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.