SIG in Pikesville among 24 firms to create Alera Group

SIG in Pikesville and 23 other firms have created Alera Group, a national insurance firm.

SIG, an employee benefits firm in Pikesville, is among 24 insurance firms joining under one name, Alera Group.

Through the deal, SIG will maintain its local independence while gaining access to a national network of resources and expertise for clients, Founder and President Richard Silberstein said in a statement.

"Our new partnership with Alera will allow SIG to elevate its client services, grow its expertise, and offer more thought leadership to the local market — all while staying true to our values and cornerstones of being trusted advisors in our community and providing an exceptional client experience," he said.

Alera Group is based in Deerfield, Ill., and has more than 750 employees across its 24 member firms. The combined organization will have 20,000 clients and 40 offices across 15 states.

Silberstein will maintain his leadership role at the company, which will continue operating out of its Baltimore County office. All 52 of the company's employees are expected to stay on.

Financial terms of the deal were not disclosed.

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