Dallas, TX - Novatae Risk Group ("Novatae") announced today that it acquired the assets of Far East Insurance Marketing, Inc., ("Far East") of Buena Park, CA on July 1, 2023. Terms of the transaction were not disclosed.
Far East is a wholesale agency that serves independent insurance agents and brokers. They have a niche in real estate intensive client types including HOAs, apartments, hotels, shopping centers, and grocery stores. The organization is led by Wes Kwon. "Our goal is to help our partner agencies grow with competitive products and ease of doing business," says Wes Kwon, Owner, Far East Insurance Marketing. "We are a results-driven organization that provides the service necessary for a long-term, successful business relationship. We look forward to continuing to do so as part of Novatae." "I'd like to welcome Wes and Far East to Novatae," says Richard Kerr, Chief Executive Officer, Novatae Risk Group. "They will be a great addition to our team."
Giordano Halleran Ciesla provided legal counsel to Novatae. Fennemore Craig, P.C. provided legal counsel, and MarshBerry advised Far East on the transaction. No other advisors, diligence firms, or legal counsel were disclosed.
About Novatae Risk Group Novatae Risk Group (Novatae) is a full-service wholesale insurance brokerage, managing general agency and program manager providing brokers and their clients with specialty insurance products and services for complex and hard-to-place risks across property, casualty, workers’ compensation, cyber, professional, management, construction, environmental, garage, inland marine/ocean marine and more. Novatae serves more than 6,000 clients from 27 offices across the United States. For more information, please visit www.novatae.com.
Media Contact: Jean Wiskowski, Chief Marketing Officer 732-380-0900 Ext. 736
Mergers & Acquisitions Contact: Bradley Unger, Senior Vice President, Business Development 732-712-2230 Ext. 186