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| Volume 2, Issue 2 |
Barney & Barney LLC To Combine with Saylor & Hill Co. Two insurance brokerages combine to create one of the largest privately held brokerages in California
Barney & Barney LLC, one of Southern California’s oldest and largest privately held brokerages, has announced that it will combine with Saylor & Hill Co., an Oakland-based insurance brokerage. The transaction is expected to close on March 31, 2008. The mission of the combined companies will be to work together to provide premier insurance, risk management and employee benefits solutions.
“Barney & Barney is excited to join forces with Saylor & Hill. Like us, they are committed to superior customer service and exhibit the same values and culture to which we adhere,” commented Paul Hering, CEO and Managing Principal of the nearly 100-year old Barney & Barney. “This is a perfect fit for both companies, and we look forward to working together to grow our offices in both Southern and Northern California.”
While Barney & Barney and Saylor & Hill will each retain their individual names, office locations, staffing and management, the combined entity’s name will be referred to as “B&B Company.” The combined company will employ almost 300 associates and oversee more than 25,000 client accounts generating $62 million in annual revenue and representing over $1 billion in annual premiums. As a result, the newly formed B&B Company will debut in the top 50 of Business Insurance’s list of 100 Largest U.S. Brokers - moving up nearly ten spots from Barney & Barney’s previous rankings.
“By combining, we expand our footprint in California while continuing to deliver great service. Like Saylor & Hill, Barney & Barney is committed to remaining privately held; being privately held allows us to keep our clients at the forefront of what we do.” said Mike Mirsky, Principal and Managing Director of the Oakland-based Saylor & Hill, which was formed in 1933.
Mr. Hering will be the CEO and Managing Principal of the combined organization and will be based in San Diego. Mr. Mirsky will be a principal in the firm and Managing Director of the Bay Area office.
A temporary website can be found at www.abandbcompany.com and will include links to both Saylor & Hill’s and Barney & Barney’s current websites.
Company InformationBarney & Barney, with offices in San Diego and Orange County, was named “Commercial Insurance Agency of the Year” in 2006 by National Underwriter, a leading industry publication. Founded in 1909, Barney & Barney is San Diego’s oldest and largest privately held insurance brokerage. As a member of Assurex Global, they are able to provide worldwide connections for clients while ensuring personalized, local service.
Saylor & Hill Company has been delivering risk management, insurance and employee benefits services from its headquarters in Oakland, California since 1933. Over the decades, they have earned the reputation for delivering consistent, responsive and highly personalized service to their clients.
B&B Company will have an expanded geographic footprint and servicing capability in California while continuing a commitment to remaining privately held. The B&B Company will be organized around practice groups, characterized by expertise in specific industries and client groups, ensuring that each B&B Company professional has a depth of understanding in the clients’ businesses and the ability to customize solutions that optimally meet the clients’ insurance, risk management and employee benefits needs. Combined, Saylor & Hill and Barney & Barney have well over 100 years of insurance success and have received numerous awards of distinction for ethical practice, operational excellence, and employee satisfaction.
This is informational only, and is not intended to serve as legal, tax or financial advice. You should consult with your qualified legal, tax, or financial adviser before making any changes to your plan. |