Chapple Insurance Group, a commercial insurance brokerage based in Wichita, has sold to an insurance company based in Florida.
Owner Chock Chapple said in an e-mail to The Eagle on Wednesday morning that he could not comment on his firm’s sale to AssuredPartners Inc. in Lake Mary, Fla.
AssuredPartners said in a news release that Chapple Insurance represents more than 1,000 property and casualty insurance clients in a range of industries in the U.S., Canada, China, Mexico and Iraq.
It said Chapple Insurance is a $2.5 million agency that will continue to operate in Wichita under the leadership of president Brent Wasson and chief customer service officer Chock Chapple, but will report to SRA, an AssuredPartners company in Mission, Kan.
“The extensive insurance and risk management knowledge and experience of Chapple Insurance’s team will be a valuable addition to the AssuredPartners network,” Tom Riley, AssuredPartners president and chief operating officer, said in a news release.
Chapple Insurance also operates offices in Cape Coral, Fla., and Tulsa.
The firm was founded in 2004.
AssuredPartners has more than 100 offices in 27 states and London, England, and $420 million in annualized revenue. It is a portfolio company of Chicago-based private equity firm GTCR.