First MainStreet Insurance, an affiliate of TrueNorth Companies, has acquired four new agencies.
Lauer & Lauer Insurance, based in West Union, was FMSI’s first acquisition of 2023. Established in 1954 and led by fourth-generation insurance agent Michael Lauer, Lauer & Lauer comes to FMSI with a great client base, strong reputation in their marketplace and a fine list of carrier partners.
“Partnering with First MainStreet Insurance was an easy decision to make,” Mr. Lauer said. “Their focus on staying local was crucial, and the expansion of our market offerings is beneficial.”
The second acquisition of 2023 was a private fold-in to one of FMSI’s longstanding southern Iowa locations. The transaction was completed privately.
The third acquisition is Dubuque Insurance Services in Dubuque. A start-up agency dating back to the mid-1990s, Phil and Debbie Meyer have been a constant in the Dubuque insurance landscape. Joining FMSI in ownership in this new venture is Thad Meyer, Phil and Debbie’s nephew, who will continue to build on the legacy that was established 28 years ago.
Lastly is the merger of Lillis Insurance Agency in Williamsburg. Since its founding in 1937, Lillis Insurance has been a constant presence in Williamsburg. Joining FMSI in ownership is partner Dan Lillis. A multi-generational agency, Lillis Insurance is poised for great things on the platform. “With what we were seeing in the insurance industry, we knew we had to find a partner for the future,” Mr. Lillis said. “After talking with several potential suitors, I felt that the First MainStreet model worked best for our agency, our employees, and most importantly, our clients and the communities we serve.”
The model for First MainStreet Insurance, led by TrueNorth senior leaders, focuses on smaller agencies to perpetuate their business while maintaining a local presence and legacy within their communities.
In addition to the new partnerships, FMSI currently holds locations in Altoona, Bloomfield, Burlington, Cedar Falls, Centerville, Charles City, Clinton, Cresco, Creston, Fairfield, Grinnell, Hampton, Indianola, Iowa Falls, Kalona, Lime Springs, Maquoketa, Mason City, Mechanicsville, Moville, Mount Ayr, Mt. Pleasant, Newhall, Ottumwa, Osage, Pella, Perry, Quad Cities, Sigourney, Stuart, Sumner, Wayland and Winfield, Iowa; Aberdeen, South Dakota; and Brentwood, Tennessee.
