Tropolis, an Ann Arbor-based insurance brokerage, has acquired The Somerset Group, a provider of medical malpractice and professional liability coverage for health care professionals in Rochester. Terms of the deal were not disclosed.
Joining Tropolis is expected to allow Somerset to expand its geographic reach, bring enhanced resources to its clients, and position the business for continued growth, according to the companies.
Ken Finlay, president of The Somerset Group and a Tropolis partner, will continue to lead the Somerset team, and the agency’s entire staff will remain in place.
“We are thrilled to welcome The Somerset Group to Tropolis,” says Jeff Mason, CEO of Tropolis. “Ken and his team have built an exceptional agency rooted in service, trust, and deep expertise in the health care space.
“This partnership allows us to bring even more resources to Somerset’s clients and team — enhancing the customer experience, supporting long-term employee growth and satisfaction, and expanding Somerset’s reach to serve healthcare professionals in new markets. It’s a meaningful step forward in our mission to build the future of independent insurance.”
Somerset will transition to the Tropolis brand over time. The agency is expected to benefit from Tropolis’s centralized technology infrastructure, expanded carrier access, and the Tropolis Purpose Plan — an employee ownership program designed to recognize and reward high-performing teams.
“This partnership is the right move for our clients, our staff, and the future of our business,” says Finlay. “By joining Tropolis, we’re bringing more tools and resources to our health care clients while remaining true to our service-driven roots. I’m excited to continue leading our team into this next chapter.”
The acquisition continues Tropolis’ strategic growth across the Midwest and reinforces its commitment to customer-centered, technology-enabled, and community-focused insurance solutions, the company says.
Tropolis is backed by Unity Partners, a private equity firm in Dallas and New York.
For more information about Tropolis, visit tropolis.com. For more information, on The Sommerset Group, visit thesomersetgrp.com.
