Written by Gabriel Dillard
A global brokerage has acquired the assets of Fresno’s Der Manouel Insurance & Financial Services (DMIG).
Founded in 1983 by a team including Michael Der Manouel, Sr., the venture was originally named San Joaquin Valley Insurance Associates, and has grown to among the top 300 privately held insurance agencies in the U.S.
The terms of Chicago-based Hub International Limited’s acquisition were not disclosed. Founded in 1998, Hub International has a global network of more than 400 brokerages across North America.
“The addition of DMIG will greatly strengthen our footprint in the Central Valley,” stated Kirk Christ, president of Hub California. “Not only does DMIG excel in client engagements, the company is truly committed to investing back into the communities it serves to make a legacy impact on the San Joaquin Valley and across the state.”
Over the decades, Der Manouel Insurance made a name for itself serving Christian schools and religious institutions, emergency medical transportation and nonprofit human services. Michael Der Manouel, Jr. joined the team in 1992, and in 1997 acquired the remaining stock from his father and became president.
A merger with Vic Gunderson brought an employee benefits and financial services division in 2002, and the next year Chuck Der Manouel joined and developed only the fourth self-insured workers’ compensation group ever approved in the state.
After a couple of acquisitions, including one that gave it a presence in Pleasanton, the firm was re-branded as Der Manouel Insurance Group in 2006.
DMIG’s leadership team and staff will join Hub California. Der Manouel, Jr., president and CEO of DMIG, will report to Christ and join the Hub California executive team.
“Our clients can continue to rely on our dedication to providing services that make a difference in their businesses and have earned us a widely-respected reputation as a talented and hard-working insurance organization,” said Der Manouel, Jr. in a statement.
“And, they’ll gain the added benefits and value from Hub’s focus and willingness to invest in carrier relationships, program verticals and client resources necessary to help our clients be the best and most competitive in their respective industries.”