One80 Intermediaries, a specialty US insurance broker, has acquired Managing General Agent, GMI Insurance (GMI). Terms of the deal were not disclosed.
Established in 1980, GMI specialises in commercial transportation and related insurance. The company initially focused on auto rental coverage and diversified its offerings to include a market leading, monoline business auto program over 20 years ago.
GMI’s monoline business auto program is specifically designed for accounts that are not part of a comprehensive insurance package.
The program targets contractors, artisans, building supply dealers, retailers, manufacturers and wholesale distributors. In subsequent years, GMI added workers’ compensation, cannabis transport, general liability, auto rental fleet and contingent auto lease programs to their portfolio.
Matthew F. Power, President, One80 Intermediaries, commented: “One80 is committed to the transportation space, and we have made significant investment into our Transportation Practice over the past four years.
“Current programs include domestic trucking, last mile and light business, preferred logistics, cargo, freight brokers and garage and auto dealers. We are thrilled to add GMI’s expertise and capabilities to One80’s robust transportation platform.”
GMI is One80’s most recent acquisition. Back in February, the broker entered the employee benefits space with the acquisition of Executive Benefits Group (EBG).
