Leading specialty insurance agencies Lawrence E. Smith & Associates (LESA) of greater St. Louis, MO, and Scholastic Insurance of Florida (SIF) of greater Orlando, FL, have jointly announced their respective acquisitions by DOXA Insurance Holdings, LLC (DOXA). Each agency will continue operations under the leadership of Larry Smith and his son, Lane Smith, respectively, as well as retaining their individual brand names within the scholastic insurance markets they serve in nine Midwestern and southern states.
Larry launched LESA in 1977, pioneering accident and health coverage within school systems throughout Missouri, eventually expanding the business to include nine states. Lane joined his father’s business in 2001, and together in 2004, acquired ownership of the Florida agency that is now the primary provider of scholastic insurance programs in the state of Florida.
“Larry and Lane each have long track records of success in providing industry-leading accident insurance and claims administrative services for public and private schools and camps throughout the Midwest and southeastern U.S.,” states Matt Sackett, CEO of DOXA. “We have great respect for their work and commitment to providing competitive coverage, excellent claim service, and rate stability for schools.”
Larry Smith explains, “For us, it was the right time to explore the next level of growth and sustainability for LESA and SIF while creating a smart succession plan. Certainly, a competitive offer is important; but equally to us was finding the right partner that understands our business and the legacy we’ve created.”
“We vetted several potential suitors,” adds Lane Smith, “however, DOXA was the obvious, long-term fit for us. DOXA allows us to continue marketing our programs and services to schools on an as-is basis. School clients will continue receiving the highest level of prompt, personal services they deserve and have come to expect from us.”
Larry and Lane Smith also commented that MarshBerry served as financial advisor to each of LESA and SIF on this transaction.