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Third Wave Insurance agrees to acquire five Gulf Coast businesses
The deal adds operations across Louisiana, Mississippi, and Florida and will consolidate the acquired units under Third Wave’s Palmer & Cay brokerage platform.
Third Wave Insurance has agreed to acquire five insurance and advisory businesses across Louisiana, Mississippi, and Florida, extending its TPG-backed brokerage platform into the Gulf Coast region, Coverager reports.
The acquisitions include Baton Rouge-based employee benefits and retirement advisor Massad Olinde, Mississippi-based employee benefits brokerage Acuity Group and its self-funded health plan administrator BAS, New Orleans commercial property and casualty agency AWS, Lafayette-based wealth management and employee benefits advisor Spielmann & Associates, and Orlando commercial P&C agency Alexander Financial Group.
After the transactions close, the five businesses will operate under Palmer & Cay, Third Wave’s flagship retail brokerage, led by Jack Cay and the existing management team.
Kelly Cox, a longtime Acuity Group executive, will lead the combined Gulf Coast platform and report to Cay, and the outlet notes that financial terms were not disclosed.