Privately-owned broker and employee benefits consulting firm Holmes Murphy has acquired Minneapolis-based Cobb Strecker Dunphy & Zimmermann (CSDZ), a provider of commercial insurance, claims, surety and captive insurance services.
The deal will add more than 100 employees to Holmes Murphy and is aimed at strengthening the firm's position in the property and casualty industries, particularly the construction and surety sectors.
CSDZ will continue to operate on a stand-alone basis and will remain in its three locations of Minneapolis, Minnesota; Salt Lake City, Utah; and Madison, Wisconsin.
“The CSDZ team of insurance professionals has been serving the construction industry for nearly 100 years,” said Holmes Murphy chairman and CEO Daniel Keough. “Their longevity fits well with Holmes Murphy’s foundation in the insurance industry, and we know this growth opportunity will only enhance our clients’ service experience. Holmes Murphy has long been known for providing the best insurance solutions to lower our clients’ cost. By adding CSDZ’s expertise, we’re able to take our knowledge and capabilities to the next level.”
CSDZ resident Jerry Ouimet added: “Since our office was founded in 1919, it has had a passion for innovation, entrepreneurialism, and a client-service centric focus. We believe by joining Holmes Murphy, we are becoming part of a likeminded employee-owned organisation that will benefit our long-standing clients.”
Holmes Murphy said that it plans to expand further by bringing its employee benefits, captive, and personal lines expertise into the mix of property and casualty services already offered by both companies.
Holmes Murphy, CSDZ, M&A Risk management, Captives, North America