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EPIC Insurance Acquires Korotkin Insurance Group in Michigan

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EPIC Insurance Brokers & Consultants has expanded its presence in Michigan through the acquisition of Korotkin Insurance Group, a respected brokerage based in Southfield.

This acquisition marks a strategic move for EPIC as it enhances its footprint in the Detroit area while strengthening its existing operations in Grand Rapids. Although specific financial terms were not disclosed, the deal underscores EPIC's commitment to growth in key regional markets. Korotkin Insurance Group, with roots dating back to 1913, brings to EPIC a rich history and specialized expertise in sectors such as for-hire transportation, family entertainment centers, real estate, and fitness franchises.

Expansion Opportunities in Michigan

The acquisition of Korotkin Insurance Group not only broadens EPIC's geographic reach but also expands its sector expertise. By integrating Korotkin's capabilities, EPIC aims to enhance its service offerings for both private clients and small businesses in the state. The retention of key executives such as Emily M. Korotkin and Jeffrey S. Belen as managing principals ensures continuity and leverages their deep industry knowledge.

Strategic Positioning in the U.S. Market

As part of Galway Insurance Holdings, EPIC benefits from the strategic backing of Harvest Partners, a private equity firm. This acquisition aligns with EPIC’s goal to enhance its rank in the competitive U.S. insurance brokerage landscape, where it currently stands as the 14th largest broker according to industry rankings. This continued expansion reinforces EPIC's strategy to provide comprehensive, tailored insurance solutions across diverse market segments.

Korotkin Insurance Group: A Century of Expertise

  • Founded in 1913, providing over a century of industry experience.
  • Employs about 70 professionals with specialized industry knowledge.
  • Focuses on sectors like for-hire transportation, real estate, and fitness franchises.

With this acquisition, EPIC is poised to capitalize on Korotkin’s longstanding client relationships and sector expertise, ensuring a seamless transition and maintaining the high level of service clients expect.