Broker consolidator Afore Insurance receives Neace Ventures investment

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By Michael Loney

June 3 - (The Insurer) - Alpharetta, Georgia-based insurance brokerage acquisition platform Afore Insurance Services has secured what it described as a “significant strategic investment” from Neace Ventures.

Afore said the partnership with Neace Ventures will accelerate its national growth.

Neace Ventures will contribute its portfolio of insurance agency acquisitions currently under letter of intent, which Afore will now close, enhancing its footprint.

Neace Ventures is led by John Neace, who will join Afore's board of directors as vice chairman.

Afore highlighted his decades of leadership in the insurance brokerage industry.

Neace is founded Neace Lukens, a regional insurance broker that was acquired by AssuredPartners in 2011.

Michael Garguilo, president and CEO of Afore, said that Neace’s “guidance and the agencies contributed through Neace Ventures will immediately strengthen Afore's platform, help drive our M&A strategy and provide us a lasting competitive advantage."

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