EAST HAMPTON, N.Y. and HUNTINGTON, N.Y., April 3, 2017 /PRNewswire/ -- Cook Maran & Associates ("Cook Maran"), one of New York and New Jersey's largest insurance brokers, will acquire Gundermann & Gundermann ("Gundermann"), a third-generation, family-owned company that's grown into a top 25 New York insurer since it was founded in 1937. Both agencies offer commercial, personal and employee benefit policies to individual and business clients; Gundermann specializes in insurance for franchised car dealers and through its continuing partnership with Direct Dealer Services provides F&I (Finance and Insurance) products to their dealer clients.
This is Cook Maran's second recent partnership with an area agency, having acquired New Jersey-based Mintz, Girgan & Brightly (MGB) in January. As in that deal, Gundermann & Gundermann will continue to do business under the 'Gundermann' name, with existing management and staff continuing in their current roles. Customers will work with familiar faces in the agency's Huntington office, with the added expertise and convenience of the combined agency's 200+ professionals at six offices across the tri-state area.
"Gundermann & Gundermann has succeeded for 80 years with an unshakable reputation for customer service and support," said Len Scioscia, Chairman and CEO of Cook Maran. "In exploring this partnership with Joe and Tom Gundermann and their team, we saw potential to help them continue their growth with stronger regional and national backing, to build our core business across the region, and capitalize on their unique services to car dealers."
"Since my grandfather started the business in Brooklyn in 1937, we've made our mark as a family company that treats its clients like family," agreed Joseph Gundermann, President & CEO. "In teaming up with Len and Cook Maran, we're part of a bigger 'family' that shares our values and commitment to providing even better service to our customers."
In merging with Cook Maran, Gundermann also joins the national platform of Prime Risk Partners ("PRP"). PRP is among the industry's fastest-growing firms, building a national platform founded with leading regional agencies like Cook Maran and Gundermann that seek expansion through local management and market knowledge with access to the resources of a dynamic national organization.
"By joining Cook Maran and Prime Risk's New York metropolitan area platform, we've found regional and national partners that understand how we do business and can help us protect even more people, employers and dealerships with competitive coverage and superior claim service," added Gundermann. "It's a 'win-win' opportunity for our agency and our clients, who ultimately benefit from enhanced services and better bargaining clout with carriers."
In addition to covering the property and casualty needs of auto dealers, Gundermann also offers, through its continuing partnership with Direct Dealer Services, F&I products to their dealer customers that both enhance their relationship and generate additional revenue for their dealers
Gundermann also provides a 35-year track record of serving area non-profit organizations, addressing the exposures faced by these organizations and their boards.
"Gundermann is a great agency that brings some unique services to the marketplace, and we look forward to giving them a broader platform to do even more," finished Scioscia. "This will be a productive, positive partnership for both our agencies and the Prime Risk Partners platform."
"We're pleased that Cook Maran continues to build our New York metropolitan area presence with growth-minded, customer-focused agencies like MGB and now Gundermann & Gundermann," said Bret Quigley, Chairman and CEO of Prime Risk Partners. "Nationally, we're aiming for strong and sustainable growth – that means a thoughtful strategy for finding the right partners, working with leading brokers that can reach the next level by embracing a national platform."
With regional brokerages like Cook Maran and Indianapolis-based ONI Risk Partners (acquired as a Midwest partner in 2016), PRP has seen rapid growth with a deliberate expansion strategy; PRP leapt from 86th to 50th on the Business Insurance 'Top 100 Business Brokers' ranking (2015 to 2016) and made a solid debut at 28th on Insurance Journal's 2016 list of Top 100 Property/Casualty Agencies and 23rd on its list of Top 50 Personal Lines Agencies.
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SOURCE Cook Maran & Associates