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Banking & Finance

Apr. 18 – Sterling Risk Advisors and Seacrest Partners of Savannah announce merger plans to form new entity

Category: Banking & Finance

By Lou Phelps, Savannah Business Journal
April 18, 2017 - Atlanta based Sterling Risk Advisors, Inc.  and Savannah based Seacrest Partners, Inc. announced plans to merge and operate as Sterling Seacrest Partners, Inc.  today. The new company will be the largest privately held, independent insurance brokerage in the state of Georgia.
The new merged firm will employ over 150 insurance agents and service team members with six offices in Atlanta, Savannah, Hilton Head, Columbus and Little Rock.  The merger will officially take effect on July 1, 2017.
“We are thrilled to combine forces with Sterling Risk Advisors, a firm that shares our passion for a client first approach and a deeply rooted commitment to the communities we serve. We both understand the importance of independent ownership and how it has fostered alignment between our employees, our clients and our insurance carriers,” says David Paddison (pictured right), President of Seacrest Partners. “This alignment of interest has been the cornerstone of our individual successes and will serve us well as we prepare to integrate our organizations.”
Clients of both firms will benefit from access to a broader team with a depth of resources, experience and knowledge that is unmatched in the market place. Sterling Seacrest Partners will offer clients a robust platform as they navigate their complex issues related to their risk management and employee benefit programs.
“The insurance landscape is constantly changing. Remaining private and independently owned is extremely important to us and to our clients. Our clients have the confidence and peace of mind that they will always receive the highest level of service from a loyal and dedicated team. It also allows us to stay nimble and quickly respond to changes in the market. We will continue to invest in the latest technology and be able to offer more resources to our clients as we work with them to navigate an increasingly challenging risk environment,” said Sterling President Doug Rieder (pictured below.)
The merger of Seacrest Partners and Sterling Risk Advisors will fill a gap created by the rampant consolidation of large independent brokers over the last several years and will give clients, insurance carriers and employees an option outside the public brokers and private equity owned platforms.  
“Both firms have exceptional talent. We believe that together we can continue to cultivate and retain some of the best minds in the business while supplying more opportunity for growth. We are so thrilled because this is a win not just for our companies, but for our team members, our insurance partners and most importantly for our clients,” concluded Paddison.  
Seacrest Partners is a privately held insurance brokerage and consulting firm serving a wide range of clients with complex property/casualty, employee benefit and personal insurance needs, established in 2006.  Seacrest’s associates average 20 years’ experience in the insurance industry and operate from offices in Savannah, Hilton Head Island, and Atlanta.
Serving the construction industry, healthcare, professional practices, transportation, logistics, real estate, hospitality, manufacturers, distributors, education, not-for profit entities and other commercial and personal clients, Sterling is committed to the client’s interests and works in partnership with them to provide services and solutions customized to today’s dynamic marketplace. As a result, Sterling Risk Advisors continues to be a workplace of choice, consistently outpacing the industry averages in terms of revenue growth, profitability, productivity and client retention, according to the company.

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