WOODBURY, N.Y., July 28, 2011 /PRNewswire/ -- Sterling & Sterling, Inc., a leading insurance brokerage firm announced the formal acquisition of Ascend Insurance Resources, Inc., a boutique Aviation and Commercial Insurance firm headquartered in Park City, Utah effective July 18th, 2011. This acquisition will complement Sterling's existing aviation industry practice which has been growing since opening their new practice headquarters in Miramar Beach, FL earlier this year. Along with an elite list of Aviation clientele, the Park City operation also brings with it their commercial and personal lines clients.
The acquisition of Ascend Insurance Resources, Inc. will result in the creation of a new Sterling business entity known as: "Sterling Ascend Insurance Resources." The inclusion of this specialized operation into Sterling will also include the acquisition of an additional satellite sales office located in San Francisco, CA.
"We have great expectations for the synergy created through this acquisition," said David A. Sterling, Chairman/CEO of Sterling & Sterling, Inc. "After the completion of the integration process with our existing aviation industry practice in Miramar Beach and our growth objectives, we expect to become one of the largest aviation specialists in the US over the next three years."
"This acquisition will enable Ascend to expand our platform and geographic footprint and commission Sterling to have additional expertise complementing our existing Aviation practice," says Leslie DeWald, President of Sterling Ascend Insurance Resources (former CEO of Ascend). "When speaking with David Sterling about this acquisition, it became clear to me that Ascend and Sterling share the same philosophy towards client advocacy and approach to risk management. This partnership represents a tremendous opportunity to capitalize on that strength and our valued clients to benefit from this partnership."
About Sterling & Sterling, Inc.
Independent and privately owned since 1932, Sterling & Sterling, Inc. employs over 190 insurance and risk management professionals to service its vast regional, national and international clientele. With its world headquarters located in Woodbury, Long Island, Sterling & Sterling, Inc. is ranked among the top 100 insurance brokerages and one of the largest in the New York metropolitan area. For more information, please visit sterlingrisk.com
SOURCE Sterling & Sterling, Inc.