Alliant, Orange County’s largest insurance broker, increased annual revenue by 20% to $550.3 million last year, placing it No. 1 on the Business Journal’s annual list of local insurance brokers.
Over the past year, the Irvine-based company has expanded through a steady stream of acquisitions while also building specialized services around emerging risks.
The insurance broker has also set up a formal process to manage risks linked to rapidly multiplying data centers as well as related hyperscale and energy infrastructure projects.
Alliant said in statement that it has “formalized its integrated risk advisory offering to help developers, owners, investors, contractors and other stakeholders navigate the interconnected risks associated with hyperscale infrastructure and data center development.”
Alliant says it helps clients quantify risk and financial exposure across the full lifecycle, from pre-construction and construction through operations and maintenance.
Alliant Insurance Services is currently the fourth largest U.S. insurance broker, with more than 15,100 current employees. according to its website. It covers a wide array of risks, including agribusiness, aviation, construction, energy and marine, financial institutions, property and casualty and employee benefits.
More Acquisitions Seen
The company recently said that it plans to acquire Nava Benefits, an employee benefits brokerage with an artificial intelligence-powered platform.
Terms of the transaction, announced Aug. 18, were not disclosed.
The previous month, a division of Alliant acquired Retirement Solutions Group, a retirement plan consulting firm for small and mid-sized businesses.
Amit Dogra, executive vice president of Alliant’s Retirement & Wealth division, said the acquisition reflects the company’s “continued investment in building a premier retirement and wealth business.”
Retirement Solutions Group helps employers develop retirement programs.
“Retirement Solution Group has built an outstanding reputation for helping organizations navigate the complexities of retirement planning while delivering meaningful value to plan sponsors and participants. Their expertise and client-focused approach make them an excellent addition to our team,” Dogra said.
The move positions Alliant to capture a larger share of the retirement consulting market, which could pressure rivals to innovate or expand their own small-business services.
Acquisitions in Texas
Last October, Alliant said it had acquired Texas Insurance Agency in Laredo, a major hub for international trade. The agency specializes in cross-border trucking risk and insurance, according to industry website Insurance Business.
Alliant also acquired McAfee Insurance Agency in Mercedes, a provider of insurance services in East Texas.
The expansion is part of Alliant’s “ongoing strategy in Texas, focusing on cross-border transportation risk and integrating technology-based solutions with risk management to improve outcomes in complex markets,” Insurance Business said.