OVERLAND PARK, Kan.--(BUSINESS WIRE)--Jul 21, 2022--
Virtus LLC, a Kansas City-based insurance brokerage and consulting firm, today announced a partnership with Kemmons Wilson Insurance Group LLC (“KWIG”), a Memphis-based agency focused on the hotel, hospitality and lodging sector. The addition of KWIG will supplement the existing industry specialization strategy Virtus has established in the real estate, private equity, construction and restaurant sectors.
“We are very excited to join forces with Virtus. For several years, we have watched and admired their growth and the importance they place on people and culture. We share many values and a mutual desire to reach our full potential. This partnership gives us both an opportunity to expand our team, market and areas of excellence”, said Spence Wilson Jr., Chairman of KWIG. The Wilson family will continue to hold a seat on the Virtus Board as part of the transaction.
Andrew Gray, Chief Executive Officer at Virtus, stated: “The partnership with KWIG supports our continued focus on specialization. We have a great responsibility to the legacy of the Kemmons Wilson family and a great opportunity to help the business thrive into the future.”
Both Virtus and KWIG put tremendous emphasis on company culture and will continue to focus on attracting and developing world class insurance talent. The combined firm will have 100+ employees and an in-force book of business in excess of $250M (premium) and $20M (revenue), which places Virtus inside the Top 100 insurance brokerages in the U.S.
About KWIG and Virtus:
In 1952, Kemmons Wilson Insurance Group was established with a focus on supporting Holiday Inn hotels also founded by Kemmons Wilson, as well as the other portfolio companies of its parent company, Kemmons Wilson Companies. KWIG has grown into a leading full-service insurance agency continuing their focus on hospitality with a philosophy of doing what is best for their clients by building long-term, trusted relationships. Please visit www.kwig.com to learn more.
Virtus was founded in 2013 with the vision of developing an industry-leading insurance brokerage and consulting firm. Virtus has built core competencies through specialized expertise, technology-focused and professional delivery of Commercial, Employee Benefits and Personal Lines solutions spanning multiple verticals. Virtus takes a long-term view of the insurance industry and remains focused on high conviction organic growth and acquisition opportunities all leveraging technology to deliver superior results for clients. For more information, please visit www.virtusinsurance.com or email [email protected].
View source version on businesswire.com:https://www.businesswire.com/news/home/20220721005942/en/
CONTACT: Andrew Gray, CEO, Virtus
D.J. Steinmeyer, COO, Virtus
Cindy Klatt, Vice President, KWIG
KEYWORD: UNITED STATES NORTH AMERICA TENNESSEE KANSAS
INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE LODGING FINANCE CONSULTING TRAVEL BANKING
SOURCE: Virtus LLC
Copyright Business Wire 2022.
PUB: 07/21/2022 02:34 PM/DISC: 07/21/2022 02:34 PM
http://www.businesswire.com/news/home/20220721005942/en
