EPIC insurance brokerage acquires Marin’s Jeffrey Stephens brokerage
Edgewood Partners Insurance Center, better known as EPIC, said Thursday it’s acquired Jeffrey Stephens Insurance Services, a San Rafael-based retail insurance brokerage.
Financial terms were not disclosed, nor was the exact size of the Marin brokerage.
EPIC said that founder/principal Jeffrey Stephens and his team will move to EPIC’s downtown San Francisco office, which it said now houses nearly 70 insurance, risk management and employee benefits consulting professionals.
The Stephens brokerage was established in 1993, after Stephens spent the first decade of his insurance career at Marsh and other large national brokers. Over the next 17 years, he built the firm into one of Marin County’s most successful boutique agencies, according to EPIC, focusing primarily on the nonprofit, health care and wholesale/retail industries.
The acquisition is EPIC's first since acquiring San Francisco’s Metro/Risk brokerage last August.
“EPIC is California’s fastest growing brokerage, which tells you a lot, given the difficult economy we’ve all been facing,” Stephens said in the April 22 statement. He added that joining EPIC allows his group to provide its clients “with expanded resources and services as well as more sophisticated insurance programs and broader market access.”
EPIC, founded in 2007, now has nearly 300 staffers in seven California offices, including San Francisco, San Mateo, San Ramon, Los Angeles, Orange, Irvine and Folsom, as well as outposts in Atlanta and Baltimore.
With roughly $60 million in annual revenue, it ranks among the top 50 retail insurance brokers in the United States and is the fifth largest privately held brokerage in the state, according to EPIC.
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