Alkeme expands in Midwest with Iowa agency buy

Alkeme Insurance Services LLC said Thursday it has acquired Relion Insurance Solutions, an Iowa City, Iowa-based agency.

Terms of the transaction were not disclosed.

Relion, with about 70 staff, provides commercial and personal lines coverage from seven offices in Iowa. It was formed in 2020 through the merger of Iowa City-based agencies AW Welt Ambrisco and Insurance Associates.

Ladera Ranch, California-based Alkeme, backed by New York-based private-equity investment firm GCP Capital Partners LLC, is the 49th largest brokerage of U.S. business, with $114 million in 2023 revenue, according to the most recent ranking by Business Insurance.

Formed in 2020, Alkeme has more than 40 offices in 22 states and has completed over 50 acquisitions.