Univest Insurance, Inc., Acquires John T. Fretz
Insurance Agency, Inc.
Univest Insurance, Inc., recently acquired John T. Fretz Insurance Agency, Inc., a family owned and operated full-service property and casualty insurance agency. Based out of Souderton, the Fretz Agency provides insurance solutions to both personal and commercial clients. The acquisition expands market share in Univest Corporation's primary service area — Montgomery County, Pa.
"Growth of the Univest Insurance business through acquisition is part of our long-term strategy to diversify our business, giving consumers and businesses in the region convenient access to a complete range of financial solutions from one company," says William S. Aichele, chairman and CEO of Univest Corporation. "For more than 75 years, the Fretz Agency has been a well-respected local company with an experienced team of professionals. We are excited to welcome them to Univest and believe their contributions will further strengthen Univest's ability to serve the insurance needs of businesses and individuals in our communities."
The Fretz Agency has been recognized for excellence by the North Penn United Way and other local nonprofit organizations for its active support of the community. The agency has a solid reputation across the industry and has been an advocate for the independent insurance agency system as a Trusted Choice® independent insurance agency.
"This acquisition will help to further identify Univest as a leader in delivering competitive and comprehensive insurance solutions," states Ronald R. Flaherty, president of Univest Insurance, Inc. "And the integration of our companies will be seamless for our employees and customers because we both believe in providing exceptional insurance solutions, excellent service and strong financial and volunteer support to our local communities."
The John T. Fretz Insurance Agency, Inc., now operates under the name Univest Insurance, Inc., and, as a result of the acquisition, Fretz Agency employees have joined the Univest team working in Univest Insurance's Lansdale office and in a new location expected to open in Souderton later this summer.
Insurance products offered through Univest Insurance, Inc., a licensed insurance agency affiliate of Univest Corporation, are obligations of and underwritten by unaffiliated insurance companies. They are not insured by the FDIC or any other agency of the United States and are not deposits of or guaranteed by any bank. The purchase of insurance is not a condition of any banking product or service and will not affect credit decisions.