Alliant Insurance Services has acquired Kassa Insurance Services Inc., as consolidation in the insurance sector continues.
Kassa, headquartered in Spokane, Washington, provides personal lines and commercial insurance in Washington and Northern Idaho. Alliant previously acquired Spokane-based Moloney O'Neill, an insurance firm, to build up a presence in the region.
Newport Beach, California-based Alliant provides property and casualty, workers' compensation, employee benefits, surety and other products to more than 26,000 clients. The group is backed by private equity giant Kohlberg Kravis Roberts & Co. LP (NYSE: KKR), which bought it in 2012.
The deal underscores a continued wave of consolidation in the insurance sector. Recent deals have come from GTCR-backed AssuredPartners Inc., which bought Amtech Insurance Brokers in February, and Anthem Inc. (NYSE: ANTM), which picked up Simply Healthcare Holdings Inc., also in February. For more on the insurance market see Insurance Firms Find that Bigger May Be Better.