CBIZ acquires P&C insurance agency Prince-Wood Insurance
CBIZ, a provider of financial, insurance, and advisory services, has acquired almost all the assets of Prince-Wood Insurance based in Woodbridge, Virginia, for an undisclosed price.
Founded in 1967, Prince-Wood Insurance caters to small and mid-sized businesses in Northern and Central Virginia, Maryland and Washington, DC. with property and casualty insurance solutions.
Prince-Wood Insurance has seven employees and nearly $1.2 million in annual revenue.
Jerry Grisko – President and CEO of CBIZ, said: “We are pleased to complete the acquisition of Prince-Wood Insurance as part of our ongoing strategy to strengthen our property and casualty insurance business. Despite the impact of the ongoing COVID-19 pandemic, our property and casualty business continues to grow coming off a very strong year of performance in 2019. Prince-Wood is an ideal partner given their long-standing local presence and deep client relationships.”
Mark Rousseau of Prince-Wood Insurance said: “We are very pleased to partner with CBIZ in the continued evolution of Prince-Wood Insurance. CBIZ’s focus on customer service and satisfaction matches our own philosophy, and having access to the products and support that comes with joining a national professional services company, along with our local presence of over 50 years, will be a direct benefit to our valued clients.
“We are also excited to be able to offer additional workplace benefits to our employees by becoming part of the CBIZ community.”