Besnard Insurance - Mergers

THE BESNARD INSURANCE FAMILY

Strategic Mergers

Growth | Financial Security | Flexible Terms | Value

“ Together, we can diversify your wealth and improve your quality of life. ”

A Note from Besnard CEO, Adam Besnard

Since 1979, Besnard Insurance, a world-class national independent insurance agency, has been laser-focused on one thing: Maximizing long term value for our clients and partners. And now could be the time to write yourself into that story… My leadership team is identifying strong, independent insurance businesses to join the Besnard Team, and you are on the list. l am interested in discussing how our expertise in agency growth, wealth diversification, and enhancing quality of life could benefit you. I know this isn’t the first time you’ve been approached, but Besnard Insurance offers unique opportunities you can’t find elsewhere. Of course, this is a complex and personal decision and certainly does not get made over the course of a booklet. My goal here is to give you a glimpse into my thoughts and to highlight why a partnership with us might be in the best interest of you, your family, and your business long term.

I’m hoping we can continue to discuss this in person or over the phone.

All my best,

Adam Besnard CEO/President, Besnard Insurance

TABLE OF CONTENTS

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Why Besnard? • Interview with an Acquisition Partner • Financial Security & Diversification • Flexible Terms & Transitions • A Higher Quality of Life

About Besnard • Our Story • Our Leadership Team • Our Values

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Building a Legacy • Besnard Gives Back

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WHY BESNARD?

INTERVIEW WITH A PARTNER

What made you consider partnering with Besnard? Adam and his team were very honest and responsive from our initial conversation to the closing. I never felt pressured during the process. Several years later, do you feel satisfied with your decision to team up with Besnard Insurance? Teaming up with Besnard proved to be the most advantageous choice I made for both my agency and myself. By harnessing Besnard’s capabilities and resources, we managed to double agency revenue within 1.5 years and triple agency revenue in just 2.5 years. On a personal note, this achievement resulted in me being granted a compensation package that aligned with my compensation prior to the merger. What made the biggest impact on you during the transition process? Besnard Insurance made my people a priority during the transition. My people are my “secret sauce” and I consider them family. Seeing Besnard Insurance focus on them as much as me during the transition put me at ease.

What did you like best about working with Besnard? My favorite part of partnering with Besnard Insurance was the flexibility it afforded me and my agency. I was able to keep my company name, where I remained the “face” of my agency and aligned on an employment timeline that worked for me. Did you have any mergers/ acquisitions experience prior to this deal? I was brand new to the process and had a million questions. The Besnard Insurance team was always there to answer questions, but they took it an extra step, explaining the answers and giving me the heads up of what to look for and potential concerns that should be addressed with my attorney or CPA.

What was the negotiation process like?

I knew it was a negotiation, but I never felt like it was me versus them. Trust is more important than anything during the process. Ultimately, I trusted Adam and his team, and this was what provided me comfort to move forward.

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FINANCIAL SECURITY AND DIVERSIFICATION

Partnering with Besnard offers unique opportunities to diversify your personal assets in the short-term while providing everything you need to grow your wealth long-term. We have access to a $1.0 billion credit facility allowing us the independence and flexibility to work together to achieve our collective goals. If you want to grow your wealth with Besnard, beyond the initial merger, all this is at your fingertips: • Scale your agency by leveraging Besnard’s unique resource platform • Established industry leading technology to optimize business growth • Direct preferred relationships with Besnard’s diverse national and global insurance markets • Unique insurance solutions to help scale your brand/ division for the long-term • National expansion opportunities to develop new territories, regionally and nationally, by leveraging your agency’s strengths • Top tier leadership to optimize your business for long-term success

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We only partner with best-in-class carriers always focusing on client solutions. Today we have relationships with over 160 COMPANIES AND MARKETS .

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FLEXIBLE TERMS & TRANSITIONS

Everyone’s needs and situations vary. Our honest and open consultative process explores all of your options to make sure the partnership works for you and your interested parties.

Some possibilities you may consider:

Maintain your independence. You may keep your company name, local ownership in community, organizational structure/culture, and office. Do the work you enjoy. We can build a custom transition plan focused on your strengths and the work that motivates you. Determine your involvement. Whether you want to work in the office, remote, full-time or part-time, we can develop a unique work plan that achieves your goals. Find a deal structure that works for you. We are well-capitalized, so we are more flexible than any other option in the marketplace.

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“Because of our culture and capital, we are in position to build true win-win partnerships that achieve our short-term and long-term business goals.”

A HIGHER QUALITY OF LIFE

When you join Besnard, you join a national, independent insurance agency that does business in all 50 states. You gain immediate access to our world-class insurance products and technology. You also find that our success is driven by top tier, motivated human capital that fuels and supports all aspects of the business.

What you can expect when you join the Besnard Team:

Quality of Life At Besnard, we work with team members to ensure they achieve their professional and personal goals through flexible work schedules, a comprehensive benefits package, company outings, team activities, and more. We may be a national agency, but we keep our family culture by supporting our team members and celebrating our collective successes together. Back of the House Support If you want it, we can help support your operations, human resources, accounting, administration, and facilities management, so you can focus on what you love doing the most: working with your clients and providing solutions. High Caliber, Passionate People We look for partners who are client-focused and solutions oriented. Driving results from all across the country, the entire Besnard team embodies outstanding work ethic, impeccable character, and strong interpersonal skills. Our experienced team has an average age well below industry average. Empowered People Our team members have the authority to quickly solve problems and make decisions without all the red tape and layers of management found in most public corporations and private equity funds.

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ABOUT BESNARD

OUR STORY

Besnard was founded in 1979 in Tampa, FL. From the beginning, the focus was on building long-term value for our clients with innovative insurance solutions. Over the years, we have grown from our Florida office to become a presence around the globe, adding thousands of diverse insureds to our clientele from all over the country.

1979

2023

Today Besnard is led by Adam Besnard, who serves as President & CEO. Adam has over 30 years of comprehensive business experience and has built a Leadership Team with over 100 years of insurance, sales, operations, risk management, programs, and finance experience. His visionary leadership has taken Besnard to new heights of growth and innovation, making us a leading global-independent insurance agency without sacrificing the family culture that sets Besnard above other big names in the industry.

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OUR LEADERSHIP TEAM

Adam Besnard CEO and President, Besnard Insurance (813) 541-1881 (mobile) Adam.Besnard@BesnardInsurance.com

• Adam has 30+ years of business leadership experience in multiple industries with a strong track record of success • Adam is a licensed insurance agent in all 50 states • Adam holds a Business degree from Florida State University • Adam and his wife Mindee have two daughters and one son and live in Tampa, FL

Steve Strigler CFO, Besnard Insurance (781) 467-9573 (mobile) Steve.Strigler@BesnardInsurance.com

• Steve has 25+ years of diverse accounting and finance experience in multiple industries • Steve has successfully managed 100+ acquisitions throughout his career • Steve holds a degree in Accounting from Babson College, and is a Certified Public Accountant (CPA) • Steve and his wife Tara have three daughters and live in the Tampa, FL area

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OUR CORE VALUES

Our approach is based on generations of knowledge, passion, and success. Our character is shaped by deeply-held core values – embraced by all – this has guided our mission to be the best possible insurance partner for more than 40 years:

THE GOLDEN RULE We treat clients, partners, and their teams the way we want to be treated. We do business the way it used to be done - where the entire team values the human interaction and the client experience.

INDEPENDENCE We cherish and protect the company we own, the culture it fosters, and the autonomy it provides to accomplish our mission.

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ACCESSIBILITY Our entire team is approachable and available. We welcome, expect, and encourage feedback from clients, partners, and employees.

EXCELLENCE We enjoy what we do and work together collaboratively to deliver superior results for our clients, partners, and employees. We firmly believe that our sucessess today will drive the accomplishments of tomorrow.

FUN We wholeheartedly celebrate our successes together and have fun doing it!

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BUILDING A LEGACY

BESNARD GIVES BACK

Every year, a portion of our revenue goes to making the world a better place. This is at the core of who we are – a legacy made possible by our clients, employees, and partners.

Volunteer Grant Program When our employees donate their time to an eligible nonprofit, Besnard makes a monetary donation to the organization.

Matching Gift Program Our employees can make eligible donations to charities and Besnard matches their contributions.

We are always looking for new ways to make our vision a reality. To recommend a charity or to learn more about how we give back to our community, visit our website at www.BesnardCharity.org. Some charities we support include:

National Loss Prevention

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