(DALLAS, TX – June 9, 2021) Towerstone, the Dallas-based wholesale insurance division of IMA Financial Group, announced on June 9, 2021, that it has acquired Professional Lines Underwriting Specialists, Inc. (PLUS), an Austin-based wholesale insurance brokerage, specializing in management and professional liability.
The partnership opens new markets for Towerstone and PLUS, and provides Towerstone with expertise to address new and increasingly important risk solutions sought by commercial insurance brokers such as cyber coverage, directors and officers insurance, professional and employment practices liability.
“For more than 30 years, PLUS has been Austin’s premier professional lines and management liability broker,” said Towerstone President George Schneller. “By joining forces, we enhance our product offerings with PLUS’ sought-after experts and further expand our Texas presence.”
PLUS will operate as a specialty division of Towerstone. Its eight team members will continue to operate out of the company’s office in Austin.
“Towerstone’s family-oriented culture and client-focused approach is right in line with our own core beliefs,” said PLUS President Steve Sprowls. “This partnership will provide the necessary resources to grow our business and serve even more clients across the country.”
Over the years, PLUS has worked with a variety of clients including many of the tech startups located in Austin. The brokers at PLUS are viewed as experts among insurance brokers and policyholders regarding management and professional liability exposures, risk mitigation strategies and related insurance products and solutions.
Towerstone’s parent company, IMA Financial Group is rapidly expanding its geographic footprint and specialty offerings through partnerships with agencies that align on cultures and values, such as PLUS. Today’s announcement marks IMA’s 14th acquisition in the past eighteen months and serves as a springboard for Towerstone’s growth within Texas.
Towerstone, a company of the IMA Financial Group, is a specialty wholesale insurance broker providing specialty risk solutions in the construction, energy, transportation and environmental industries. Towerstone, based in Dallas, Texas, has more than 40 employees dedicated to servicing their clients across the United States.
View this story in media outlets:
Insurance Journal: “Towerstone in Dallas Acquires Austin’s PLUS Inc.“
Business Insurance: “IMA unit buys wholesale insurance brokerage“
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