Our last edition of Emerge was back in January when we announced a large number (7) of partnerships we created at the end of the year, in addition to recapping the terrific growth we saw in 2023. It really was a banner year for First MainStreet Insurance (FMSI) and TrueNorth. While our integration team was mired down in a ton of work, we were happy to end the year on such a high note.

We took a little pause to give everyone a bit of relief and make sure we were upholding our end of our promises to the incoming agencies. We also made some significant hires to help support our continued commitment to our existing agencies, as well as some key talent acquisitions to help propel us to even further growth. The internal team has done a phenomenal job of integrating all these agencies and giving them a clear path forward. “Proud” isn’t strong enough of a word to watch this team soar.

We also took the time to build our pipeline and help create some new partnerships as we head past July and have our eyes set on the second half of the year. A year, that no doubt, will likely end in a flurry. As everyone’s eyes are on the election, there are likely some ramifications (either way) on the eventual winner. Should the incumbent party retain the presidency, there will be a massive rush at the end of the year of deal flow. Fears of capital gains rates are omnipresent and will undoubtedly fuel massive deals as 2025 nears. While the political climate isn’t the only reason you should look at selling assets, it certainly should be something you consider when looking at your options and the path ahead of you.

FMSI is thrilled to announce THREE new partnerships!

Our first announcement comes with the addition of Pedersen Insurance. Pedersen Insurance has over 20 years of successful history behind it and its location in Nevada, Iowa will be a great asset as we continue to proliferate the state with high quality agencies. We are thrilled to welcome Jarod Pedersen to our platform. Jarod joined us July 1st and is already proving to be a positive addition to our growing list of agencies.

Located in Brookings, South Dakota, StateWide Insurance becomes our second South Dakota location. Owned and operated by Jeff Jacobsen, Statewide Insurance is a strong agency in this region. This merger will allow Jeff to continue in an ownership position and help him grow and scale his company. Started from the ground up, we are excited to help Jeff continue his growth pattern and continue doing great things in his community.

Our third agency partnership that closed on August 1st was McCartan Insurance Group located in West Des Moines, Iowa. Our newest partner on the FMSI platform is Joel McCartan. Joel has done quite well since his founding of the company. A fast-charging agency in a great location, Joel and his team will be a great complement to our growth strategies.

With the addition of these three awesome agencies, and four additional deals with signed Terms Sheets for the next couple of months, 2024 is shaping up to be yet another fantastic year. The second half of this year should be robust inside of our walls. Our team is ready, and our platform is strong. Are you ready to have the conversation and figure out your next move? If so, let’s connect for a private conversation.

Dan Driscoll
Vice President of Strategic Expansion and M&A

DDriscoll@truenorthcompanies.com
319-739-1444