Dayton

haga-aa8xuq.blogspot.com
Dayton-based Brower Insurance Agency LLC acquired Aspen Insurance Associates of Westerville and its six Aspen prior to the sale was part of one of the 20 largest independent insurance agencies in Central John Watson, managing principal at Brower, said the companty had been planning to expand into the Columbus area for some “We felt that Aspen matched up very well with he said. Watson declinedc to disclose financial terms of the whichbrought Brower’s payroll to about 175 employeese and added Aspen President Dave Kotary as a principal and one of 22 companty owners.
Kotary, who also owned Aspen, said he’sa considered selling the firm in recent yearsz as a way to ensure a smootgh operation for employees and clients when he The 59-year-old said he’s approaching the end of his fourth decadwe in the insurance business and likelhy will retire in the next three to six yearx depending on market conditions. “I received a number of overtureds in the past coupleof years, but I was interestedx in finding a very good cultural fit,” he “Acquisitions often work out on paper but can fall apartr because of ... a culturee that doesn’t work out.
” Whild the benefit for Brower is Kotary said the Westerville office has access to the resourcesw of a muchlarger company: Loss control, risk management consultingy and in-house legal counsel. Aside from its Dayton headquarters and newWestervillw office, Brower also has employees in Loveland and Springfield, a city the company begahn serving when it acquired Consolidated Insurancw in December. Watson said Brower has no furtherr acquisition plans despite the tworecenyt deals. “We don’t do a lot of he said. “It just happened that thess twocame along.
” Brower, founded in 1935, is one of the 100 larges t employers in the Dayton area, according to research from the Dayto n Business Journal , a sister publication to Columbuws Business First . In addition to being rankeed asthe region’s largest property and casualtu agency, it’s the No. 2 health and life insurance agency and employeebenefitsz firm.