Acordia Inc.: An Indianapolis insurance broker said...
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Acordia Inc.: An Indianapolis insurance broker said it has acquired Association Administrators & Consultants Inc., a privately held third-party administrator and insurance broker, for an undisclosed price.
Acordia Inc., the nation’s seventh-largest insurance broker, said the combination of the small Irvine company with its own Acordia Benefit Services of Southern California in Orange will make Acordia the fifth-largest third-party administrator in the region.
Association Administrators, founded in 1972, has 90 employees and posted 1993 revenue of $5.6 million. The company provides third-party administrative services to clients in 24 states and insurance brokerage to clients in 47 states.
Acordia, with 1993 revenue of $258 million, also provides consulting and financial services across the United States and internationally.
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