Johnson & Johnson (J&J) has reached an agreement to acquire the assets of Erickson-Larsen, Inc. (E&L), a wholesale insurance firm with offices in Maple Grove, Minn., and Fargo, N.D. The deal is expected to close on Aug. 1.
E&L operates as an independent resource for retail agents in Minnesota, Montana, North Dakota, South Dakota, Wisconsin, and Wyoming. While it has a strong focus on transportation insurance lines, the firm also provides a range of other products to independent retail agencies.
Erickson-Larsen was founded in 1980 by Lance Erickson and Merwyn Larsen, expanding over several decades to establish a presence in multiple states. The company’s growth included acquiring Bjornson/Sentinel in Fargo in 1991 and opening a branch in Madison, Wis., in 1997, which later transitioned to remote operations in 2020.
Similarly, the leadership at J&J is largely family-run, with Francis G. Johnson (pictured above) serving as chairman and CEO, Harry L. Johnson II as president and COO, and Francis G. Johnson Jr. in a key executive role.
J&J provides excess and surplus lines markets, standard markets, and premium financing to independent insurance agents across 35 states, including Alabama, California, Florida, Texas, and New York. The company also offers private flood insurance, certain program business products, and premium financing nationwide.
Jennifer Larsen, president and CEO of E&L, said the acquisition would create new market opportunities for its retail agency partners and open doors for its employees.
“Our cultures and core values are strongly aligned, which will further strengthen our valued agency partnerships while expanding on the products and services we provide,” Larsen said.
Francis Johnson likewise said that the acquisition would add experienced employees and agency networks to the firm.
“Together, we plan to bring a new level of passion, commitment and resources to the independent agencies serviced by E&L,” he said.
J&J has pursued similar transactions in recent years to grow its regional presence. In 2023, the company acquired two divisions of Midlands Management Corporation, expanding its specialty commercial and personal lines footprint in Texas and Oklahoma.
Furthering this approach, J&J also acquired Statewide Insurance Corp in the same year, adding to its Southwest market reach and building on its broader strategy of combining organic growth with acquisitions to enter new states and strengthen relationships with independent agents.
Meanwhile, in discussing broader market conditions, Francis Johnson has previously cited data showing E&S premiums reached $39.5 billion, underscoring the sustained demand for E&S products.
He has said that factors such as natural catastrophe exposures and evolving risk profiles continue to drive market growth, shaping the MGA’s ongoing focus on expanding access to diverse products across multiple regions.
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