National Insurance Firm Alera Group Acquires New Jersey’s Broad Reach Benefits

Alera Group, a national insurance firm, has acquired Broad Reach Benefits LLC, effective February 1, 2019. Terms of the transaction were not announced.

Broad Reach Benefits, headquartered in Madison, N.J., offers a range of employee benefits services and assists its clients by overseeing the employee benefits process. The firm focuses on bringing actuarial analysis, reporting metrics throughout the year and technology to middle market and small employers.

Following the acquisition, all Broad Reach Benefits employees will continue operating out of the firm’s existing locations in New Jersey and Tennessee under the name Broad Reach Benefits, an Alera Group Agency LLC.

Alera Group was formed in early 2017 and is based in Deerfield, Ill.

Source: Alera Group