Renaissance Group acquires other agency networks

Renaissance Group Inc., which owns the Renaissance Alliance insurance agency network, said Monday that it has bought two other networks, tripling its size.

Terms of the deals were not disclosed.

The Southborough, Massachusetts-based network has purchased Monmouth Junction, New Jersey-based Agency Network Exchange and Fresno, California-based United Valley Insurance Services.

The two deals will add $2.5 billion in premium to Renaissance, taking its premium volume to $3.6 billion, and 152 agency members, taking its total to 273, according to a Renaissance statement.

Renaissance has agencies in Connecticut, Florida, Georgia, Massachusetts, New Hampshire, New York, Rhode Island and Vermont. The acquisitions add agencies in Arizona, California, New Jersey and Pennsylvania, the statement said.

Renaissance was bought by private equity firm Long Arc Capital LP in 2018.

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