Achieva CU Buys Florida Insurance Firm
The credit union says it has renamed the company Achieva Insurance Agency, LLC.
The $2.7 billion Achieva Credit Union (191,778 members) based in Dunedin, Fla., announced Tuesday it had purchased Cannella Insurance Services located in the Tampa, Fla., area for an undisclosed amount.
The credit union stated the insurance company will continue to operate under the same management and team, but that the name has changed to Achieva Insurance Agency, LLC.
According to Achieva, Cannella Insurance Services was founded 20 years ago and has just under 900 clients, primarily located in the Tampa area, with some clients in the southern Florida areas of Lee, Broward and Miami-Dade counties.
The founder of the company, Joseph Cannella, said, “This acquisition brings only positive outcomes for each of our valued clients. By leveraging Achieva’s resources, we will be able to expand our product offering by attracting several additional new insurance carriers and contracting with these additional quality insurers to create an expanded product offering that will only be a win for our customers.”
Cannella will serve as director of Achieva Insurance Agency, LLC.
The firm specializes in auto, car, home, boat, business, commercial and flood insurance, including insurance for religious organizations, churches, museums, private schools and builders’ risk.
“I will continue to be here for all our clients as I have for the past 20 years,” Cannella said. “We will continue to provide exceptional service and commitment to customer satisfaction. Everyone at Cannella Insurance is very excited about the new opportunities that this acquisition will bring about by allowing us to expand our product offerings.”
“Achieva Insurance Agency shares the values of personalized customer care, integrity and expertise that Cannella Insurance provided for over two decades,” Achieva Insurance Agency Board Chairman John Wintermeier said. “Combined with our ability to handle higher volumes of clients and proven efficiencies throughout our 25 branches across Southwest Florida, we look forward to offering an even broader range of insurance options to meet the specific needs of our clients in these challenging times with insurance coverage in Florida.”
According to Achieva, they do not anticipate any immediate changes to their current clients’ insurance coverages or policies as a result of the acquisition.
“Policies will remain in effect, and you can continue to rely on us for your insurance needs,” Cannella said. “Our dedicated team will work to ensure a seamless transition and uninterrupted service.”