Integro Ltd. on Thursday announced that it has acquired the Newport Beach, California-based employee benefits broker and consultant Lugo & Associates Insurance Services Inc.
Terms of the sale were not disclosed.
“Lugo & Associates focuses on group health and 401(k) and pension plan clients in the small to medium size markets, a great complement to Integro’s larger company client base,” Integro North America’s San Francisco-based president, Marc Kunney, said in a statement released Thursday. “With his vast experience in this market, Mike (Lugo) will lead the small to mid-size group division serving clients with fewer than 250 employees.”
Lugo & Associates will be rebranded as a unit of Integro, and continue operating from its offices in Newport Beach.
Source: Business Insurance