Trucordia, ranking in the top 20 largest U.S. insurance brokerages, has again expanded its reach, this time with the acquisition of Florida Insurance Inc. in Dunedin, near Tampa.
Trucordia, based in Lindon, Utah, offers commercial and personal lines and employee benefit
s. The firm, led by CEO Felix Morgan, had a busy 2025, with acquisitions in several states, including Texas, Arkansas and in New England.
Little information was available about Florida Insurance Inc. The Trucordia news release noted that the agency has deep roots in the community and a loyal
client base. The Florida Department of Financial Services site shows the agency has had a valid li
cense since 2006. Jeromy Colbert is the agent in charge. Nathan Schirmer is the president, the Florida Department of State records show.
Shares in Beazley were 1% lower at 1,112 pence at 9:36 a.m. in London.
“If it makes sense for our shareholders to do a transaction, then we’ll do a transaction,” Bea
zley Chief Executive Officer Adrian Cox said in an interview. “It just needs to be a Premier League price for a Premier League company.”
On Monday, Zurich went public with an offer to buy Beazley for 1,280 pence per share in cash, a 56% premium to the company’s prior closing price on Jan. 16. The p
roposal was the fifth made by Zurich over more than a year, according to CEO Mario Greco.
Zurich’s Jan. 19 offer was 4% higher than a previous proposal earlier in the month, which Beazley’s board also rejected. Beazley’s shares have rallied almost 30% si
Watch More Image Part 2 >>>
nce the Jan. 19 offer was announced, but are still trading below the offer price.
Read more: Zurich Makes £7.7 Billion Bid for Specialty Insurer Beazley
“Now that we know that this week’s offer was not the highest, this reframes the debate,” Jefferies analysts including Derald Goh wrote in a note to clients Thursday.
While it’s difficult for Beazley’s board to accept an offer that’s lower than 1,315 pence, a deal is still possible, they wrote.
“We think Zurich can afford better terms, but only up to an additional 10% from 1,280p,” the a
nalysts wrote. “A 3% uplift to 1,315p sits comfortably within this.”