IMA merges with Florida brokerage

IMA Financial Group Inc. said Thursday it is entering the Florida market through a merger with Wallace Welch & Willingham Inc.

Terms were not disclosed.

Wallace Welch & Willingham has 155 staff and nearly $30 million in annual revenue, Denver-based IMA said in a statement.

The St. Petersburg-based brokerage places commercial and personal lines property/casualty insurance and employee benefits, with significant business in auto dealerships, construction, country clubs, hospitality, manufacturing, marine and nonprofits, the statement said.

IMA is the 21st-largest brokerage of U.S. business, according to Business Insurance’s most recent ranking.