Insurance Office of America (IOA) has recently secured new investments from the private equity firm Madison Dearborn Partners and the Canadian brokerage Navacord. The announcement came on a Monday, signaling significant momentum for the company.
Leadership and Independence
IOA will continue under the guidance of its current leaders. Heath Ritenour will serve as chairman, while Jeff Lagos takes on the role of CEO and Rob Motely acts as president. The company emphasized its commitment to maintaining independence despite the new investments.
Focus on Growth and M&A Opportunities
According to IOA, the partnership will enhance their ability to pursue mergers and acquisitions within the rapidly evolving U.S. insurance brokerage sector. The firm will also prioritize organic growth strategies.
Company Background and Performance
- Founded: 1988
- Location: Longwood, Florida
- Rank: 32nd largest U.S. brokerage
- 2024 Brokerage Revenue: $324 million
- Business Composition:
- 78% Commercial Retail
- 11% Employee Benefits
The investments from Madison Dearborn Partners and Navacord are poised to propel IOA into new markets, reinforcing its position in the industry. With a well-defined leadership structure and a strategic focus on growth, IOA demonstrates resilience and ambition.
