Columbia-based insurance consulting firm South Risk Management has been acquired by Propel Insurance, one of the country’s largest privately owned insurance agencies and a portfolio company of capital market company Flexpoint Ford.
“We are thrilled to be joining Propel, a highly respected and innovative leader in the insurance industry,” Patrick McKain, a founding partner of construction-focused SRM, said in a news release. “We have shared values and a like-minded approach to delivering unparalleled advice and solutions to our clients.”
SRM founding partners David Wells, Tripp Hafner and W.D. Morris will work with Propel’s construction practice, according to the release, with John Babson taking on a leadership role. Propel’s existing Southeast portfolio includes Charlotte, Atlanta, Orlando and Knoxville.
“We are pleased to welcome SRM into the Propel family, underscoring our commitment to growing our specialties nationwide by welcoming strategic partnerships and top industry talent,” said Kurt Carlson, Propel president and CEO. “Propel is recognized as a leader in providing creative insurance solutions for our clients. Our long-standing partnerships with many of the nation’s leading carriers, combined with our value services, translate into a competitive edge for our clients.”
Added Richard Todd, regional director in Propel's Charlotte office: "This transaction will complement our footprint in the Southeast. We remain excited about our growth and will continue to provide a compelling opportunity for insurance advisors who are looking to join a national leader."