Hope this finds all of you well as we head into the 4^th quarter of 2024! It feels like just moments ago we were deep in the throes of planning for the year and yet, here we are trying to complete our goals for 2024 with an eye on 2025. This year, more than any I can remember, has brought on headwinds that can be challenging to conquer. At the front and center of these is the general insurance marketplace. Simply put, it is a bear. Rising renewals rates, limiting coverage, carriers trying to find solid footing, and ever-increasing storm activity has made the distribution of products quite difficult. At TrueNorth Companies and First MainStreet Insurance (FMSI) we are blessed with a wide array of strong insurance carriers, quality specialized wholesale partners, and a strong focus on sound risk management practices to allow us to continue to march forward and WIN in this marketplace. The year 2024 is shaping up to be the best year we have ever had despite the increasing turmoil around us. While there are still tons of goals to accomplish in our last quarter of the year, we have been on an impressive run and look to wrap up the year in robust fashion.

In our August Emerge we announced the formation of THREE great additional agencies into FMSI. While our integration and implementation teams are hard at work successfully onboarding these agencies, our growth machine is omnipresent and clicking at an impressive level.

First MainStreet Insurance adds TWO new partner agencies!

Coming on board in September, we are thrilled to announce our largest deal to-date at FMSI. Kozlowski Insurance Agency is a formidable legacy agency hailing from Pipestone, MN with satellite offices in Luverne, MN and Brookings, SD. Chalked full of 19 talented individuals, and led by Jon and Shelly Kozlowski, this firm fits in amazingly well to our geographic footprint. As a new partner of FMSI, Jon will continue to lead the local agency and aims to continue expanding its impressive growth clip they have experienced over the years. Founded in 1970, the Kozlowski Family has led the charge for over 5 decades and we are honored that Jon and family chose FMSI to embrace and secure their legacy with our platform. FMSI just entered Minnesota in September of 2023, and we are proud to have already doubled our revenue size in the state.

“We made the decision to partner with FMSI because of the valuable resources and markets the platform provides. These additional resources will allow us to grow with potential clients that we otherwise haven’t been able to accommodate in the past. We also believe the culture of FMSI and Kozlowski Insurance were very similar in respects to our employees and our valuable clients. Being from the Midwest our values matched up seamlessly. We wanted to maintain a culture for our team, as well continue to offer a high level of service to our clients.”
- Jon & Shelly Kozlowski, Kozlowski Insurance Agency

Our second announcement comes to us with a merger between FMSI and Clemens Agency. Located in Urbandale, IA Cory Clemens has a 15-year history of winning. Now partners with FMSI as of October 1^st, Cory and team have aggressive growth desires. Along with our immense number of resources and Cory’s ability to attract new prospects, our growth charge in this agency will be formidable. With an awesome mix of commercial and personal lines clients, this will prove to be an impressive partnership.

Employee Spotlight – Tom Diefendorf

As FMSI continues its expansion plans we decided hiring a new talent in the Upper Plains Region (South Dakota/North Dakota) with an in-depth knowledge of the independent insurance agency base in this territory made a ton of sense. In January of 2024, we were delighted to bring on Tom Diefendorf, Regional Director of Mergers and Acquisitions at FMSI. Working directly with myself and our executive team, Tom’s initial productivity and professionalism has paved the way for considerable success. Learn more about Tom:

“I have lived in Beresford, SD for the past 30 years and have spent the entirety involved with the insurance industry. I began my insurance journey with an independent agency in Beresford before moving on to the carrier & markets side. I spent the last 16 years with UFG Insurance prior to joining First MainStreet.

I decided to join First MainStreet because I truly believe the platform is the ideal model for those agencies who are looking to secure their legacies within their local communities. FMSI provides a sound partnership platform that allows an agency to achieve their personal and professional goals, which means a lot to a local agency and its community. I look forward to working with agencies of all size in achieving those goals.”

    Tom Deifendorf

While we have had quite a run during the first three quarters of 2024, we are nowhere near the finish line. With FOUR additional deals pending and an ever-growing pipeline of new opportunities, we should end the year with an extraordinary bang! I am thrilled to announce these future partnerships and looking forward to closing out the year strong. Hard work is in our DNA, we have the talent, resources, scale, and entrepreneurial drive to continue making a difference, and dramatic impact, in the independent insurance industry landscape.

Should you want to learn more, I am quite easy to connect with. Please reach out for a private, low-pressure conversation.

Dan Driscoll
Vice President of Strategic Expansion and M&A

DDriscoll@truenorthcompanies.com
319-739-1444

66 locations across 4 states with over 270 colleagues and counting…