Genstar Capital-backed Alera Group to merge with Propel Insurance.

Genstar Capital-backed Alera Group, an independent insurance and wealth management firms, agreed to merge with Flexpoint-backed Propel Insurance, an innovative insurance solutions and risk consulting provider. Financial terms are not disclosed. "This merger will join two key players in the insurance industry and will not only enhance both companies, but also build a solid foundation for future growth and success. With Propel and Alera Group joining forces, we expect to continue to expand nationally, building an inclusive and diverse team while we enhance the client experience," Kurt Carlson, Propel Insurance President and CEO.