WALNUT CREEK, Calif., Sept. 18, 2013 /PRNewswire/ -- Ascension Insurance, Inc. has announced the acquisition of Transure Services, Inc., located in Whitsett, North Carolina. Founded in 1952, Transure Services, Inc. specializes in trucking and transportation insurance, including commercial and motor truck cargo, in addition to worker's compensation, accident, and liability insurance for the transportation market. Transure's brokerage platform is augmented by an in-house wholesale operation, with proprietary transportation product offerings and underwriting authority.
This transaction provides Ascension with a material strengthening of its existing trucking and transportation specialty practice. With this deal, the consolidated revenue for the Ascension transportation market in North Carolina will triple.
This acquisition continues Ascension's ongoing expansion in the Eastern region over the past five years, which has included First Charter Insurance Services, Commercial Insurance Group, and Providence Insurance Agency.
Stan Sharpe, Principal of Transure, said, "As the premier insurer of the transportation trade, Transure is able to provide our customers exceptional service catered to the unique demands of this specialized industry. Our joining Ascension enables us to offer additional products and services, while maintaining the same commitment to our valued clients."
Ascension's President and CEO Joe Tatum remarked, "This acquisition represents a unique opportunity for us to grow our operations in North Carolina and beyond. We are pleased to add this specialized practice, further expanding our capabilities in the transportation market. We welcome Transure to the Ascension family."
Jon Cooper, Eastern Region Managing Director, added, "We are excited for this opportunity to partner with Transure, which further strengthens our service offerings in the Southeast. We feel our client-focused model will fit in nicely with their current customers, and look forward to working with the great people at Transure, including Stan Sharpe, Andy Sharpe, and Bob Gunn."
About Ascension Insurance, Inc.: Ascension Insurance, Inc. is ranked within the Top 30 larges agencies by revenue, with more than 400 employees and 35 locations nationwide. Ascension is a premier insurance agency that offers superior risk management and benefits consulting services. Ascension is a privately held corporation. Together with its private equity partners, Parthenon Capital and Century Capital Management, Ascension expects to grow to $200 million in revenue by 2017. To learn more, visit www.ascensionins.com.
SOURCE Ascension Insurance, Inc.