Insurance brokerage platform, Keystone Agency Partners (KAP) has formed a strategic partnership with Keyes Coverage – an independent insurance agency serving both the personal and commercial insurances needs of customers within Florida.
Financial terms of the majority stake transaction were not disclosed.
Based in Tamarac, Florida, Keyes has been serving the greater Miami-Fort Lauderdale area for nearly 50 years.
A third-generation, family-owned business founded IN 1975 by Murray Keyes and his sons, Carey and Kenneth Keyes, known for its superior tailored service and longstanding client relationships. Experiencing double-digit growth since its founding, the agency is one of the largest privately-owned agencies in Florida.
In addition, through the transaction, Keyes will retain its Tamarac office location.
Moreover, the partnership will also establish KAP’s reach in Florida, as well as expand depth in wholesale distribution and manufacturing lines of coverage. This will also mark the fifteenth platform partnership for KAP.
Jeff Turner, Chief Executive Officer of Keystone Agency Partners, commented: “Throughout Keyes’ impressive history, they have always maintained a deep commitment to protecting their clients through thoughtful risk management strategies and we couldn’t be more excited to welcome their incredible team to the KAP platform.
“We expect this partnership to be an important part of our continued expansion in the Southeastern United States and we look forward to working closely with Keyes leadership in their pursuit of the next level of growth.”
David Ragno, CEO and Partner, Keyes Coverage, added: “KAP’s retained ownership and connected autonomy model provides Keyes with an avenue to grow our business in a way we couldn’t achieve on our own while perpetuating the business for future generations. We are excited for this next evolution in our growth and look forward to being one of the top performers on the KAP platform.”
Greg Marsh, COO and partner, Keyes Coverage, said: “This next chapter for Keyes in partnership with KAP, will bring our clients access to expanded offerings and stronger carrier relationships. We’re thrilled to continue servicing our clients and look forward to providing enhanced opportunities through a national brokerage to both our clients and employees.”
