(DENVER – Aug. 3, 2023) IMA Financial Group, a North American insurance brokerage firm specializing in risk management, insurance, wholesale brokerage and wealth management, and Sinclair Risk & Financial Management, one of Connecticut’s largest independent insurance firms, have agreed to join forces effective Aug. 1, 2023.
“Building the broker of the future means partnering with like-minded companies who share our passion for client service, associate experience and community impact,” said IMA Chairman and CEO Rob Cohen. “Sinclair’s innovative approach to risk management solutions and commitment to community will further IMA’s mission to protect assets and make a difference.”
Continuing IMA’s successful legacy of sustainable growth, Sinclair will become an IMA Company but retain its name and offices in Wallingford and Norwalk, Connecticut. Its current leadership and 32 associates will focus on providing commercial insurance and employee benefits to middle-market businesses and personal insurance lines to high-net-worth individuals. Sinclair is led by CEO and Founder David Sinclair and President Matt Bauer.
“We chose to partner with IMA because it is philosophically and culturally a perfect match for us,” said Sinclair Risk & Financial Management CEO David Sinclair. “With IMA’s robust resources as a foundation, we can serve clients and their growing risk profiles in a more advanced way, and our employees become part of the dynamic IMA family.”
As an employee-owned, independent company, IMA offers Sinclair’s associates the opportunity to invest in the fast-growing brokerage, which has added over 1,300 associates and more than tripled its revenue over the past three years. Sinclair specialists, with expertise in construction, manufacturing, health care and social service nonprofits, align with IMA’s top talent, and both companies are dedicated to a client-first approach.
The partnership with Sinclair builds on IMA’s expansion in the Northeast. Last year, the top 25 broker formed a strategic partnership with York International Agency, based in Harrison, New York.
“Sinclair’s addition to IMA will bring complementary talent and resources to the Northeast region that strongly align with York,” said IMA President, Northeast Rob Kestenbaum. “We’re excited to collaborate with the Sinclair team as we continue to grow in the region.”
About IMA Financial Group
IMA Financial Group is an independent broker defining the future of insurance through comprehensive and consultative risk and wealth management services. Because we are majority employee-owned and managed, our 2,000-plus associates in offices across the country are empowered by our shared mission to manage risk, protect assets and make a difference.
About Sinclair Risk & Financial Management
Sinclair Risk & Financial Management, founded in 1971 by David Sinclair, is one of the largest independent insurance agencies in New England and one of the largest nationwide, with headquarters in Wallingford, Connecticut. In four decades serving clients, what has distinguished Sinclair is a dedicated focus on risk management, loss control, claims management, financial consulting and human resource management.