KRA Insurance Agency, Inc.

KRA Insurance Agency, Inc. is a provider of specialized insurance solutions, focusing on risk management for diverse clients including businesses and individuals. Their offerings include a range of insurance products and consulting services to meet specific needs. Founded in 1950 and headquartered in Springfield, US, KRA Insurance Agency, Inc.

provides essential insurance services. The company was acquired in November 2021 by RSC Insurance Brokerage, Inc. , a portfolio company of Kelso & Company, to expand its service offerings. The agency has a history of adapting to industry changes while maintaining a strong presence in the insurance sector.

KRA Insurance Agency, Inc. offers a comprehensive suite of risk management solutions, including insurance and reinsurance placement, employee benefits, and consulting services. The firm serves commercial clients, nonprofits, public entities, and individual private clients, providing tailored products that address various needs. Their core offerings encompass property and casualty insurance, employee benefits management, financial and wealth solutions, and specialized consulting services across over 30 industry-specific practices.

These services are designed to mitigate risks associated with various sectors, including healthcare, construction, and financial services, while enhancing operational efficiency. KRA Insurance Agency, Inc. generates revenue through a diversified transaction structure that includes B2B services and direct client engagements. The firm leverages its expertise to establish partnerships with businesses and organizations, offering tailored insurance solutions and consulting services that meet specific client needs.

Revenue is derived from various service fees associated with insurance placements, employee benefits administration, and consulting engagements. For example, a typical transaction may involve a commercial client engaging KRA Insurance for property insurance, where the firm provides a customized policy along with ongoing risk management advisement. The firm’s revenue model is supported by its flagship services, which include comprehensive risk assessments and tailored insurance products, ensuring that clients receive the necessary coverage and support for their unique circumstances. The acquisition by RSC Insurance Brokerage, Inc.

in November 2021 will support KRA Insurance Agency, Inc. in expanding its products and services offerings. The company is focused on developing new insurance products and launching them in targeted markets. Plans are in place to enhance their geographical reach by entering new regions, although specific target markets have not been disclosed.

The recent acquisition will provide the necessary resources to facilitate these growth initiatives.