Inszone Insurance Services acquired Two Fong’s Inc., a Bay Area insurance agency focused on commercial property and lessor’s risk coverage.
The acquisition expands Inszone’s California presence and adds a commercially focused agency with deep relationships across local property management networks.
Two Fong’s was founded in 1982. Al and Pete Fong acquired the agency in 2000 and built it into a referral-driven business serving clients across the Bay Area. The agency grew largely through word of mouth, with property managers continuing to send business because of its work in commercial property risks.
The leadership team looked for a buyer that offered stronger operational support without removing the agency’s local service model.
Al, co-owner of Two Fong’s, said the agency saw a chance to use Inszone’s resources while keeping local account management and client servicing in place.
Pete said the process started well during the first conversations with Inszone’s team, including Jennifer Sevilla. He said the meetings made the team feel welcomed and gave the transaction a family-business feel.
Helfer & Associates advised Two Fong’s as exclusive advisor on the deal. The firm works with independent insurance businesses on M&A transactions.
Chris Walters, CEO of Inszone Insurance Services, said Two Fong’s built a specialized agency that fits Inszone’s California growth plan. He pointed to the agency’s Bay Area roots and referral network in commercial property as reasons for the deal.
Their deep roots in the Bay Area and their strong referral network in the commercial property space make them a fantastic addition to our organization. We are excited to provide them with the robust resources of a national platform while preserving the family culture that made them so successful.
Chris Walters, CEO of Inszone Insurance Services
Inszone Insurance Services was founded in 2002 and is headquartered in Sacramento, California. The company operates as a full-service insurance brokerage offering property and casualty coverage, personal lines and employee benefits solutions.
