VolkBell brand dissolved, stakes acquired by separate firms

LONGMONT and FORT COLLINS — The two insurance-benefits companies that operated under the VolkBell brand in Northern Colorado have been acquired — in whole or in part — by separate insurance-benefits companies.

Financial terms of the deals were not disclosed.

Salt Lake City-based GBS Benefits Inc., a full-service employee-benefits firm and a member of the Leavitt Group, has taken a 65 percent equity stake in Volk & Associates, an insurance and human resources consulting firm based in Longmont, and AssuredPartners Inc., in Lake Mary, Fla., acquired Front Range Insurance Group LLC in Fort Collins, the companies announced separately on Tuesday.

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Volk and Associates, founded by Clair Volk 30 years ago, had been part of a partnership with John Bell and Steve Smith of Front Range Insurance Group LLC that operated under the VolkBell brand for 12 years prior to the acquisitions.

Volk still maintains a minority ownership stake in Volk & Associates that will continue to operate in Longmont with its 16 employees as Volk GBS.

“We are excited to be joining the GBS Benefits Inc. and Leavitt Group team,” Volk said in a prepared statement. The Leavitt Group is the 10th-largest privately held insurance brokerage in the nation. It offers insurance-market access, specialty products and a wide-range of insurance programs, including  property and casualty insurance, risk management and employee-benefits solutions.

“Several months ago, we began looking for a partner that could help us better serve our clients,” Volk said. “GBS and Leavitt will not only provide additional expertise, but also assist with more resources to control health-care spend, improve employee communications and simplify the overall management of our clients’ benefit programs.”

Bell said in a phone interview Wednesday that his group initially considered affiliating with the Leavitt Group as well.

“After we got into it, going with Leavitt was a good fit for Clair, and going with AsssuredPartners was a better fit for us,” Bell said.

AssuredPartners provides business and commercial insurance, employee-benefits insurance and personal-insurance brokerage services. Front Range Insurance Group and its 28-member staff in Fort Collins will operate under the name Front Range Insurance Group going forward and will remain under the leadership of principals Bell, Smith, Sue Roberts and David Wooldridge.

Bell said after AssuredPartners acquired FRIG, he and other principals acquired an undisclosed equity stake in AssuredPartners.

“This is an exciting opportunity to join a dynamic regional and national organization that reflects the same values that made us successful,” Bell said in a prepared statement. “Our clients will continue to work with the consultants and service teams they know and trust.

“AssuredPartners allows us to further enhance our client focus and services on a local basis while at the same time incorporating our operations into a national platform. Our clients will benefit from the increased support, resources, markets and tools now available to us.”

AssuredPartners Inc. acquires and invests in insurance-brokerage businesses across the United States and in London. From its founding in March 2011, AssuredPartners has grown to more than $870 million in annualized revenue with more than 190 offices in 30 states, Canada and London.