ReSource Pro expands property & casualty insurance capabilities with Lowry acquisition
NEW YORK, UNITED STATES — Insurance operations provider ReSource Pro has completed its acquisition of Lowry & Associates, Inc., a premium audit and underwriting survey services provider.
The merger brings together two industry leaders, combining ReSource Pro’s operational expertise with Lowry’s premium audit and underwriting survey solutions.
Enhanced service offerings through Lowry acquisition
The purchase comes at a time when ReSource Pro is growing quickly. In fact, the company just made its 15th consecutive year on the Inc. 5000, the first in the insurance sector to do so, and just opened its first European delivery hub.
“This acquisition expands ReSource Pro’s capabilities across the commercial P&C (property and casualty) insurance space,” said ReSource Pro CEO Dan Epstein.
“We are very excited about what this combination means for our customers. Together, we will bring a holistic solution to exposure management challenges faced by commercial P&C carriers and MGAs. Accurate and timely premium audit and underwriting surveys are essential to profitable underwriting.”
The transaction is expected to address the historical challenge of limited technology support in premium audit and underwriting surveys. By integrating Lowry’s expertise with ReSource Pro’s operational efficiency and technology enablement, the combined entity will provide improved solutions to its customers.
“Our team is thrilled to join ReSource Pro, they bring a breadth and scale that will be meaningful to Lowry customers as we continue to scale and support them in the future,” said Fred Lowry Jr., President, Lowry & Associates, Inc.
“We’re happy to join forces with a company that not only shares our core values but also embodies the same dedication to innovation and excellence. This is a natural alignment of our missions, and together, we’ll create even greater impact for our clients and teams.”
Strengthening market position in the insurance industry
ReSource Pro, a trusted strategic operations partner in the insurance industry, serves over 1,800 clients across carrier, broker, and MGA segments.
With a global workforce exceeding 10,000 employees, the company has consistently maintained a remarkable 96% client retention rate for over a decade.
Lowry & Associates, established in 1989, has built a strong reputation over its 35-year history. Its proprietary training program has developed hundreds of experts supporting insurance companies nationwide.
While specific financial details of the acquisition were not disclosed, Lowry & Associates reported an annual revenue of $17.5 million and employed 146 people. The combined entity is poised to leverage its expanded capabilities and geographical reach to better serve the evolving needs of the insurance industry.
