Insurance brokerage firm IMA Financial Group has entered the Florida commercial insurance market through a partnership with Wallace Welch & Willingham, the state’s largest privately owned retail insurance brokerage firm.

Headquartered in St. Petersburg and Sarasota, Wallace Welch & Willingham employs 155 people and generates approximately $30 million in annual revenue. The independent broker specializes in commercial and personal property insurance, casualty insurance and employee benefits and has been in business since 1925.

“Wallace Welch & Willingham is exactly what we look for in a strategic partner: a strong 100-year history of providing high-quality services, an unwavering commitment to their clients, and the core values ​​of integrity, accountability, success and passion that guide all of their firm’s decisions,” said IMA CEO Robert Cohen.

“What truly sets the company apart is its values-based approach to its clients, employees and community, which reflects IMA’s commitment to protecting assets and making a difference.”

Meanwhile, Wallace Welch & Willingham Chairman John Hammond said of the merger: “Our search for the next step in our firm’s growth story was driven by a desire to find a partner who looked like us but had the resources, specialist expertise and a culture that put clients and employees first – we found that with IMA – a regional agency with national reach.”

Under the IMA umbrella, Wallace Welch & Willingham will operate as Wallace Welch & Willingham, a subsidiary of IMA.

The broader group noted that “IMA has clients in all 50 states through 19 regional offices in 20 states that collaborate and align with client services across the organization.

“With Florida rising to the fourth largest economy in the United States and a unique set of challenges in commercial insurance, IMA is well positioned to continue its growth trajectory as one of the largest independent, majority-employee-owned insurance brokerages in the United States.”

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