insurance associates of the triAD Growing to Better Serve Your Needs
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he Triad Business Journal listed Insurance Associates of the Triad (IAT) as the 13th largest independent insurance agency in the area this year. On July 1st, when Art Martinez & Associates completes the merger with IAT, they will become one of the top 10 independent agencies in the Triad, based on the number of licensed agents in their office. Insurance Associates of the Triad grew from the merger of two locally owned and operated agencies in Randolph County: Neely & Lisk and Midstate Insurance. Neely & Lisk was formed in 1959 and as they grew the agency, they purchased other local agencies to add to the fold. They acquired Johns & Redding in 1986, the Keenan Insurance Agency in 1995 and the North State Agency in 1996. Midstate Insurance opened in 1948 and purchased the Worth Insurance Agency, before merging with Neely & Lisk in 2005 to become Insurance Associates of the Triad. IAT purchased Family & Business Insurance in 2007 and the Pioneer Insurance Agency in 2017. Art Martinez relocated to Asheboro in2005 and took over the Leon Brown Nationwide office in 2006. In
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2008, he acquired the Jean McMasters agency, in 2016 he purchased Trudy Jones’ agency, and in 2018 he purchased the Cory McCray office to become one of the largest Nationwide offices in Randolph County. Eight years ago, IAT began to consider their succession plan, knowing that within the next 10 years the principals would be retiring. At that time, they were being approached to buy the agency by banks and larger insurance agencies, but they did not want to be owned by a large out of town company. The core of the agency had been locally owned in Randolph County since the 1800s and focused on the community and they wanted that tradition to continue. During that time, Reynolds invited Art to lunch. They were on the Board of the United Way together, had served together in many capacities at the Chamber, and were well known to each other. At that lunch, Reynolds first broached the subject of some kind of merger, partnership or something that had Art taking over IAT when the others retired. While flattered, at that time Nationwide was a captive agency, and while there were discussions
