Industries Insurance

Towne Insurance acquires Richmond firm

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Towne Insurance, a subsidiary of TowneBank, has acquired Richmond-based Straus, Itzkowitz & LeCompte Insurance.

The acquisition marks Towne Insurance’s 23rd acquisition.

Straus, Itzkowitz & LeCompte, a 151-year-old agency, is led by President Fred Itzkowitz and Executive Vice President Pettus LeCompte.

Terms of the deal were not disclosed.

After the acquisition, Towne Insurance, which is based in Virginia Beach, will grow to more than 422 professionals with 30 offices throughout Virginia and North Carolina.

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