Liberty Company acquires wholesale broker DB Jones Associates

By Isha Marathe

April 17 - (The Insurer) - U.S. insurance broker Liberty Company has acquired wholesale broker DB Jones Associates, integrating it into managing general agency Aura Risk Management, a member of the Liberty Company Network of Insurance Brokers.

The acquisition will expand Liberty's management liability, professional liability, environmental and construction-related insurance services to a broader audience.

The financial terms of the deal were not disclosed. Bruce Jones-led DB Jones Associates is based in Turnersville, New Jersey.

Under the Liberty Partnership Model, DB Jones Associates will operate with entrepreneurial independence but will be supported by the Liberty Network resources, meant to ensure that partners benefit from growth opportunities while contributing to the network’s overall success.

Liberty founder, chairman and CEO Bill Johnson recently told The Insurer that it planned to leverage its expanded credit facility to accelerate its M&A strategy and deepen investments in the build-out of its tech platform.

Liberty had upsized its JP Morgan-led credit facility by an additional $100 million, bringing total funding through the vehicle to $440 million in February.

“We might be acquiring something that is adding capabilities to our platform,” Johnson said, underscoring his interest in growing Liberty’s presence in the health insurance and benefits arenas.

“We're continuing to have a lot of conversations and I expect that that will continue. Overall, I like to think about having a healthy balance of organic and inorganic growth and over the last few years, we've certainly been able to achieve that so well,” he said.