As of Dec. 31, 2021, one of the fastest-growing insurance agencies in California, Gaspar Insurance Services, Inc. (GIS), has agreed to join Foundation Risk Partners (FRP), headquartered in Daytona Beach, Florida.
Backed by Warburg Pincus, a $67 billion New York private equity firm run by former President Barack Obama’s Secretary of the Treasury, Timothy Franz Geithner, FRP is a top management group of highly successful insurance industry leaders focused on delivering best in class brokerage and consulting services. Established in 2017, FRP has a growing network of 135 insurance agencies in the U.S. with over 1,500 employees and annual revenue of $450 million.
“We are excited about this new partnership with one of the fastest-growing insurance brokerage and consulting firms in the United States,” says GIS Founder and CEO Tim Gaspar. “This new alignment with FRP will allow us to operate much in the same way we do today, under our own brand. However, it will give us access to enterprise-wide tools and resources to better service our customers, provide new opportunities to our team members, and continue to grow our presence in the nation.”