Leaders at regional insurance brokerage Enders Insurance couldn’t ignore the broader consolidation trends sweeping through their industry.
Still, they felt they could control the strategic partner they would eventually align with, said Andrew Enders, president of the brokerage, which is based in Lower Paxton Township, Dauphin County.
So, earlier this year, firm leaders interviewed several partners and ended up pairing off with one of them, Unison Risk Advisors.
The initial meeting with professionals from Unison “solidified that they were going to be the best option for our team,” , Enders said in an interview with biznewsPA.
The Unison representatives were insurance professionals first, focused on their clients and committed to their communities, Enders said. “Those three elements were just so clear from the very first conversation.”
Unison acquired Enders Insurance, while Enders Insurance shareholders purchased stakes in Unison, according to Enders. Terms of the transaction were not disclosed.
The buyer: Unison Risk Advisors was founded in 2020 through the merger of Cleveland-based Oswald Companies and Baltimore-based RCM&D. It employs more than 1,000 people at 20 locations.
In 2022, Unison attracted an undisclosed investment from Peloton Capital Management, a Toronto-based private equity firm that seeks to invest for the long term.
Unison acquired Florida-based NSI Insurance Group in June 2023.
As the fourth brokerage on the Unison platform, Enders fills in a geographic gap between Cleveland and Baltimore. In addition to its Harrisburg-area headquarters, Enders has offices in Millersville, Middleburg and Robesonia.
“We are truly equipped to serve all client needs in the state and are excited for the local knowledge and experience the Enders team will bring to our clients,” Unision Risk Advisors president and COO Robert Cawley said in a statement.
Enders Insurance offers individual and business insurance, as well as employee and individual benefits.
What’s next: Enders, whose grandfather, Don Enders Sr., was among the firm’s original partners, said little will change from a customer’s perspective.
He will continue to lead the agency as president, and it will retain its name and staff of more than 60 people.
But over time, Enders Insurance will gain access to more insurance markets, as well as Unison’s more-sophisticated third-party administration services and its loss control and risk engineering services.
More employees of Enders Insurance, meanwhile, will have an opportunity to become owners of Unison, he added. “Our team is very excited about the partnership.”
The trend: Independent insurance brokerages have been merging and affiliating in a variety of configurations.
Many, like Unison, allow local agencies such as Enders Insurance to retain their brands, leaders and staff while tapping into new services and resources.
Private equity firms also are playing a role by funding some of the aggregators.
