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Sarasota-Manatee
Business Observer Wednesday, Jan. 11, 2023 3 weeks ago

Longtime Sarasota insurance agency acquires Tampa firm

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The Lovinger Insurance employees and owner will stay on through the transition. 

Having focused on the Sarasota and Bradenton region since 1959, Purmort & Martin Insurance Agency is now set on expansion. The first stop? Tampa. 

The agency announced Wednesday that it had acquired Lovinger Insurance, based in south Tampa. The property and casualty insurance agency has a reach that extends through Hillsborough and Pinellas counties. 

“As Purmort & Martin looks to further expand our presence in southwest Florida, Lovinger Insurance was a natural fit for us with its tremendous reputation for excellent customer service in the market and its combination of personal and commercial lines of coverage,” Russ Bobbitt, the president and CEO of Purmort & Martin Insurance Agency, says in a statement. 

The acquired firm will keep its name as a DBA while operating under Purmort & Martin. The employees and owner Lynne Lovinger will also be kept on through the transition. Lovinger, with 25 years of experience in the industry, will become a manager of the brand. She ran the firm for 20 years. 

“Property coverage in Florida, including homeowners’ insurance, has been an issue for consumers for some time,” Bobbitt says. “Policyholders need an agent and an advocate who has experience with difficult market cycles. Having Lovinger Insurance as a new partner will help position Purmort & Martin as a market leader throughout the bay area as we strive to offer a superior experience to clients with the expertise and longevity to guide people through this challenging period.”

Purmort & Martin employs over 30 insurance professionals. The company declined to provide terms of the acquisition, including the purchase price. 

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