Cook Maran acquires Gundermann & Gundermann; agencies join forces to offer business, personal, auto dealer insurance across Metro New York
Top 25 New York agency joins Cook Maran and the Prime Risk Partners platform; Gundermann adds customer resources, sees auto dealership expansion opportunity
(April 3, 2017) East Hampton and Huntington, NY – Cook Maran & Associates (“Cook Maran”), one of New York and New Jersey’s largest insurance brokers, will acquire Gundermann & Gundermann (“Gundermann”), a third-generation, family-owned company that’s grown into a top 25 New York insurer since it was founded in 1937. Both agencies offer commercial, personal and employee benefit policies to individual and business clients; Gundermann specializes in insurance for franchised car dealers and through its continuing partnership with Direct Dealer Services provides F&I (Finance and Insurance) products to their dealer clients
This is Cook Maran’s second recent partnership with an area agency, having acquired New Jersey-based Mintz, Girgan & Brightly (MGB) in January. As in that deal, Gundermann & Gundermann will continue to do business under the ‘Gundermann’ name, with existing management and staff continuing in their current roles. Customers will work with familiar faces in the agency’s Huntington office, with the added expertise and convenience of the combined agency’s 200+ professionals at six offices across the tri-state area.
“Gundermann & Gundermann has succeeded for 80 years with an unshakable reputation for customer service and support,” said Len Scioscia, Chairman and CEO of Cook Maran. “In exploring this partnership with Joe and Tom Gundermann and their team, we saw potential to help them continue their growth with stronger regional and national backing, to build our core business across the region, and capitalize on their unique services to car dealers.”
“Since my grandfather started the business in Brooklyn in 1937, we’ve made our mark as a family company that treats its clients like family,” agreed Joseph Gundermann, President & CEO. “In teaming up with Len and Cook Maran, we’re part of a bigger ‘family’ that shares our values and commitment to providing even better service to our customers.”
In merging with Cook Maran, Gundermann also joins the national platform of Prime Risk Partners (“PRP”). PRP is among the industry’s fastest-growing firms, building a national platform founded with leading regional agencies like Cook Maran and Gundermann that seek expansion through local management and market knowledge with access to the resources of a dynamic national organization.
“By joining Cook Maran and Prime Risk’s New York metropolitan area platform, we’ve found regional and national partners that understand how we do business and can help us protect even more people, employers and dealerships with competitive coverage and superior claim service,” added Gundermann. “It’s a ‘win-win’ opportunity for our agency and our clients, who ultimately benefit from enhanced services and better bargaining clout with carriers.”
In addition to covering the property and casualty needs of auto dealers, Gundermann also offers, through its continuing partnership with Direct Dealer Services, F&I products to their dealer customers that both enhance their relationship and generate additional revenue for their dealers.
Gundermann also provides a 35-year track record of serving area non-profit organizations, addressing the exposures faced by these organizations and their boards.
“Gundermann is a great agency that brings some unique services to the marketplace, and we look forward to giving them a broader platform to do even more,” finished Scioscia. “This will be a productive, positive partnership for both our agencies and our customers.”
Chris Watts – CVR Public Relations
Beth Gardner – Cook Maran & Associates
Adam Meyerowitz – Prime Risk Partners
About Cook Maran
Cook Maran, which traces its roots to 1946, has over 160 employees in 5 offices in New York and New Jersey. Its focus on being a trusted advisor to its business and individual clients has allowed it to enjoy outstanding growth, and it is now one of the leading independent insurance agencies in the New York metro area. For more information, please visit www.cookmaran.com.
About Gundermann & Gundermann
Gundermann & Gundermann is a top 25 metropolitan New York insurance agency (Crain’s New York Business), founded in 1937 and led today by the third generation of the Gundermann family. The firm’s 40+ sales and service personnel focus on the specialized needs of their customers, from a single auto or life policy to comprehensive personal or commercial coverage, addressing the varied challenges of automotive dealerships, non-profit groups, and other business and individual clients. Visit www.gundermann.com for more.
About Prime Risk Partners
Prime Risk Partners, headquartered in Atlanta, Georgia, is building a superior national insurance distribution platform through selective acquisitions, strategic new hires, and thoughtful operations. A portfolio company of Thomas H. Lee Partners, it is quickly becoming the partner of choice for industry professionals looking to grow exponentially while becoming a critical piece of a growing national organization. For more information, please visit www.primeriskpartners.com.