This story was up to date Monday, Nov. 16, 2020, at 6:50 p.m. with a lot more information.
A single of the nation’s quickest developing coverage brokers in the transportation and logistics market mentioned Monday it will add an additional 100 positions and commit a further $1.3 million at its Chattanooga headquarters.
Reliance Companions, LLC, a Chattanooga-centered commercial coverage agency that expects to book much more than $200 million of revenues this year, serves principally the trucking and logistics marketplace and at present has virtually 175 employees at destinations in Chattanooga, Chicago, Milwaukee, Tampa, Birmingham, Alabama, Sacramento, California, and Austin, Texas.
“We’ve nearly doubled our premium cash flow each individual yr and extended-time period our target is to grow to be a billion-greenback enterprise,” mentioned Andrew Ladebauche, who started the company in 2009 and stays its CEO. “We are expanding our business enterprise nationwide, but Chattanooga continues to be our headquarters in which we see the most employment progress and wherever we see actual prospect to provide the logistics marketplace.”
As house to just about 20 freight brokerage firms, two of the nation’s largest trucking firms and the greatest privately-owned warehouse logistics business alongside with Reliance Partners and other connected firms, Chattanooga is billing by itself as “freight alley” and a rival to Chicago as a person of the nation’s logistics centers.
Reliance Companions was started as an outgrowth of the Chattanooga-based freight brokerage organization Access America Transportation whose founders have preserved an ownership in Reliance as the coverage agency has grown rapidly, particularly immediately after Access The united states was bought to Coyote Logistics in 2014 and then to UPS the next yr. Chad Eichelberger, the former president of Access The us, serves as president of Reliance Partners.
Reliance expanded to supply warehousing and other professional strains of insurance coverage in 2010 and acquired a Nashville insurance coverage broker very last month in the initial of what enterprise president Eichelberger reported could be numerous this kind of acquisitions.
The firm is headquartered in the eight flooring of the Liberty Tower in downtown Chattanooga wherever Ladebauche stated he expects to carry on to develop the firm.
Reliance quality gross sales are projected to best $200 million in 2020, up from $142 million in 2019 and $96 million in 2018
“Our advancement has ongoing to make and we are enthusiastic to proceed our intense advancement designs for our Chattanooga department,” Ladebauche explained in an announcement of the growth Monday.
Reliance Associates, LLC provides insurance coverage brokerage and advisory providers, which include truck, warehousing and freight broker insurance plan and other styles of insurance policies and legal responsibility protection.
“I am pleased that Reliance Partners has decided on to develop its headquarters in Chattanooga,” Tennessee Gov. Bill Lee reported Monday in an announcement of the enlargement by Reliance Partners. “Their ongoing investment in the community will positively impression the total area.”
Get in touch with Dave Flessner at [email protected] or at 423-757-6340.