Alera enhances property and casualty offering through Sylvia acquisition

Alera Group, the Illinois-based employee benefits, property and casualty, retirement services and wealth management firm, has acquired Sylvia Group, which provides insurance, employee benefits and financial planning advice.

Sylvia Group is based in Massachusetts and has been serving clients throughout New England since 1950, with a particular focus on serving nonprofits and startups.

Alan Levitz, CEO of Alera Group, said: “The strength of Sylvia Group’s property and casualty expertise is a tremendous fit for the Alera Group employee benefits firms in New England.”

Maureen Sylvia Armstrong, CEO of Sylvia Group, added: “The national tools and resources available to us as an Alera Group company, combined with our local service and relationships, will further set us apart as we serve clients with excellence.”

Sylvia Group employees will continue operating out of the firm’s existing location under the name Sylvia Group, an Alera Group Company. The terms of the transaction were not disclosed.