AssuredPartners buys Pennsylvania agency

AssuredPartners Inc. said Friday it has acquired specialist bond agency The Shepherd Agency LLC of Fort Washington, Pennsylvania.

Terms of the acquisition, Assured’s 11th in 2022, were not disclosed.

Shepherd provides contract surety bonds in the Philadelphia-Delaware Valley marketplace. Its 10 employees will remain under the leadership of managing member Rick Shepherd, AssuredPartners said in a statement.

AssuredPartners Inc. is the 11th largest broker of U.S. business, according to the most recent Business Insurance rankings.