January 17th, 2014
Insurance Office of America, Inc. (IOA), the tenth-largest privately-held insurance agency in the US, founded by industry veteran and Chairman of the Board John Ritenour, today announced that it has received approval as a Registered Broker from the Corporation of Lloyd’s. To distinguish the Lloyd’s Broker from the rest of IOA, the firm is trading as ACN Services London (ACN).
“With the growth of IOA, our entry into the London marketplace was the next step in our evolution. We have demonstrated that an entrepreneurial firm working with an extraordinary group of producers can effectively compete and deliver real value,” said Heath Ritenour, CEO. “Clients have made it clear that they want creative ideas and more senior-level attention rather than commoditized off-the-shelf products. Clients want innovative brokers who provide consistent, exceptional service that is not eroded by several intermediaries.”
Leading IOA’s foray into the London market is Samantha Harrold, a recent Finance graduate of The George Washington University’s School of Business. Ms. Harrold is resident in London and has been developing essential relationships with market leaders from a diverse range of classes. “IOA is building on its reputation for agency excellence and superior service to offer London as a market of first resort,” said Ms. Harrold. “IOA, as a retail firm, is uniquely placed to deliver diverse and complex business to the marketplace, which often has a greater risk appetite and niche expertise. Indeed, I expect the market will be delighted to see an additional distribution source of IOA’s professionalism and class.”
IOA’s expansion into London will provide a unique opportunity for the American-owned private retail agency to grow its business relationships internationally. Ms. Harrold said, “I have no doubt that IOA’s extraordinary depth of talent and proven record of success domestically, will allow ACN’s presence and reputation in the London market to rise swiftly. I’m confident that talented market professionals will be drawn to the opportunity that a new, privately held venture like this offers them.” IOA further intends to establish a UK subsidiary, ACN Services London Ltd, with Heath Ritenour serving as Chairman and CEO [subject to regulatory approval].
IOA is currently the tenth-largest privately-held insurance agency in the US by Insurance Journal and is the twenty-eighth largest American broker according to Business Insurance magazine. IOA is based north of Orlando in Longwood, Florida with more than thirty branch offices across the United States including Atlanta, Dallas, Denver, Los Angeles, Miami and New Jersey.
