Keystone Insurers Group, the fourth largest insurance agency network, has agreed to merge New Jersey Agents Alliance (NJAA) into its nationally ranked network.
Keystone said NJAA’s 22 owners/members unanimously approved the agreement.
The terms of the transaction were not disclosed.
Bob Mazey, NJAA president, will join Keystone’s executive team.
“The decision to make this move was designed to secure our members long-term position in the marketplace for generations to come,” Mazey said.
Mazey said agencies that wish to remain independently owned must align themselves with a national organization like Keystone that delivers more than premium aggregation.
“The changes in our industry have made it more challenging for independent agencies to remain competitive and serve their communities,” added Keystone President and CEO David E. Boedker Sr.
Pennsylvania-headquartered Keystone started in 1983 when four independent insurance agencies teamed up to pool their experience and expertise. The network has grown to almost 300 independent agency partners in 18 states.
Keystone provides its agents with a community of like-minded agencies, industry expertise, and access to specialized products for their clients.
Keystone is ranked number four on Insurance Journal’s 2021 list of Top 20 Property/Casualty Agency Partnerships.
NJAA’s 22 members include Schumaker Agency, McMahon Agency, Oliver S.E. Soden, Harrah & Associates, Central Jersey Insurance Associates, Keller Insurance Services, Mints Agency, Calhoun Agency, G.S. Newborn & Associates, The Schenck Agency, The Commercial Agency, Rosell Agency, NorthEast Insurance Service, John B. Wright, Licato Agency, Stuber Agency, Allen & Stults, Kape Agency, Puharic & Associates, Blue Lion Insurance Advisors, John Hill Agency, and Danskin Agency.
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