Security Service Insurance acquires Pace Insurance Managers
Security Service Insurance said that it has acquired Pace Insurance Managers, an insurance agency based in Springhill, Louisiana, for an undisclosed price.
Pace Insurance Managers offers property, general liability, and inland marine insurance for the forest products industry.
Jim Chapman – senior vice president of Security Service Insurance said: “For more than sixty years, Pace has built upon a reputation of providing top-notch, full-service insurance coverage to the forest products industry in Northern Louisiana.
“Strategically, their business model provided us with additional markets while aligning with our core values; so an acquisition just made sense.”
Security Service Insurance, which is an independent agency launched in 2016, is presently licensed in eight US states. It is subsidiary of Security Service Federal Credit Union, which has over $9.8 billion in assets and 803,000 plus members.
According to Security Service Insurance, as its agents located in branches across Texas, Colorado, and Utah, the acquisition of Pace Insurance Managers will give it additional expertise in Louisiana.
Paula Allen Weems – vice president of Pace Insurance Managers said: “Our agents and our customers are like family to us. Being able to provide them with the benefits of one of the largest credit unions in the country is incredible.
“We are grateful for this opportunity and look forward to the future growth this will provide.”