National employee benefits firm, Alera Group, announced that it has acquired Massachusetts-based Sylvia Group, as of December 31, 2019. According to its website, the Alera Group is an independent, national insurance and financial services firm. The company says that it has been created via the merger of “like-minded, high-performing, entrepreneurial firms across the United States.”
“Sylvia Group, led by Maureen Sylvia Armstrong, is a powerful addition to Alera Group,” said Alan Levitz, CEO of Alera Group. “The strength of Sylvia Group’s property and casualty expertise is a tremendous fit for the Alera Group employee benefits firms in New England. We are thrilled to welcome Sylvia Group to Alera Group and look forward to remarkable growth together.”
In addition to employee benefits, the Alera Group also offers property and casualty, retirement, and wealth management services.
Another long-time independent insurance agency acquired
Founded in 1950, the Sylvia Group has been serving clients via its Dartmouth, Massachusetts located for seven decades. The agency offers clients a variety of services including personal insurance, business insurance, employee benefits and financial planning.
“We are joining Alera Group to lead the way in collaboration and industry expertise as we continue to create powerful solutions for our clients,” said Maureen Sylvia Armstrong, CEO of Sylvia Group. “The national tools and resources available to us as an Alera Group company, combined with our local service and relationships, will further set us apart as we serve clients with excellence. We are excited to be part of Alera Group.”
According to the terms of the transaction, all Sylvia Group employees will continue on after the merger and will continue to operate out of the firm’s existing location. Going forward, the former independent insurance agency will now be known as Sylvia Group, an Alera Group Company, LLC. Further terms of the transaction were not disclosed.