Breaking News
More () »

St. Louis insurance brokerage firm grows business 23% during pandemic

The company generated $300 million in written premiums last year
Credit: SLBJ

ST. LOUIS — St. Louis-based Valley Insurance Agency Alliance generated $300 million in written premiums in 2020, a significant uptick in business despite the damaging effects of the COVID-19 pandemic.

The company, which consists of more than 130 independent insurance agencies in Missouri and Illinois, reported a 23% year over year increase from 2019, when VIAA generated $244.6 million in written premiums. An insurance premium is the amount of money an individual or business must pay for an insurance policy that covers health care, auto, home and life insurance.

VIAA attributes the growth to the addition of 12 new member agencies, bringing the total members in the alliance to 134 active members, said Pierce Powers, CEO of POWERS Insurance and Benefits, the sister company of VIAA.

"Underwriting with carriers has become easier, and carriers have helped us to streamline" the process, Powers said. "We have agents dispersed across Missouri and Illinois and gave them the horsepower to grow."

VIAA members use a training system that enables them to expand their insurance speciality and grow business. 

Click here for the full story from the St. Louis Business Journal.

Before You Leave, Check This Out