San Diego insurance brokerage Barney & Barney LLC said May 13 that it acquired Los Alamitos-based Virtual Cosourcing Solutions, a service provider to insurance companies. Terms of the transaction were not disclosed.
As part of the deal, Barney & Barney hired Virtual Cosourcing Solutions Chief Executive Officer Stan Lambert as principal.
Barney & Barney said the acquisition will let it diversify its benefits offerings. Lambert will head the new Specialty Services Division of Barney & Barney, which provides the firm a platform to deliver consumer insurance offerings and promote improved business processes within its Employee Benefits Division, Barney & Barney said.
Virtual Cosourcing provided insurance companies end-to-end services, including sales, new member programs, retention, and medical billings.
— Brad Graves