Evergreen Insurance & Risk Management has acquired Florida-based MSN Insurance Brokers, LLC.
The announcement was made by Izzy Green, CEO of Evergreen, and Sonia Alvarez, president of MSN.
“Evergreen’s philosophy has always been to choose one specialized niche and become the best at it,” said Green. “We focus on real estate and property insurance across the country and have become industry leaders. So when we see a company that is specialized and is good at what it does, we like it.
“MSN fits that. It concentrates on providing insurance to the commercial trucking industry and it excels in that area. Bringing MSN under Evergreen will allow us to take over the back office operations while MSN continues to concentrate at the front end on what it does best.”
As part of the acquisition, MSN Insurance Brokers will be rebranded as Axle Trucking Insurance. “Providing specialized insurance care for commercial trucking comprises 80 percent of MSN’s business and this is what makes the company stand out. The new name will better reflect what the company does and what makes it unique.”
Chris McAtee of INS Capital Group, consulted on the acquisition.
Evergreen opened its doors in 2009 as an all-in-one center for insurance. Founded by Green and Sol Eisenberg, they had a $100,000 book of business by the end of their first year. They sold the personal lines to focus exclusively on coverage for the real estate investment market.