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Member, Beacon International Group, Ltd.
Atlanta-based Digital Benefit Advisors is expanding into Connecticut with the recent acquisition of Ovation Benefits Group L.L.C., an employee benefits firm based in Farmington, Conn., by DBA’s parent, Digital Insurance Inc.
The acquisition, announced Wednesday, also marks Digital Insurance’s largest brokerage purchase to date, according to Mike Sullivan, executive vice president of DBA and chief marketing officer of Digital Insurance.
“This new alliance will reshape the employee benefits landscape in Connecticut and strengthen our marketplace position throughout New England,” Mr. Sullivan said in a statement.
This is the largest acquisition in terms of revenue, covered lives and premium, a spokeswoman said. While declining to provide premium volume, she said Ovation is adding more than 300 clients and 140,000 insured lives in 43 states across the country. It is also Digital’s largest acquisition in terms of number of employees, with nearly 50 associates joining the Digital team, the spokeswoman added.
Karelia Health, a workforce health improvement subsidiary of Ovation, will continue to operate as an independent company and is not included in the Digital acquisition, the company statement said.