One local insurance company has acquired another in a move that will merge two long-standing San Luis Obispo firms.
Morris & Garritano announced Friday that it had acquired Neal-Truesdale Insurance Inc. The two San Luis Obispo firms will operate under the name Morris & Garritano and will operate out of Morris & Garritano’s current office on Laurel Lane. Neal-Truesdale will officially join Morris & Garritano in the coming weeks. At that time, the entire firm will employ more than 85 people.
Brendan Morris, CEO for Morris & Garritano, could not be reached for comment Friday. But a press release from his firm noted the acquisition is not expected to change clients’ everyday operations, and no service will be interrupted.
Morris & Garritano was founded in 1885. It is a full-service insurance agency focusing on business insurance, workers compensation, employee benefits, personal liners, surety and life insurance.
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Neal-Truesdale, which specialized in commercial and personal insurance, was founded by friends Bob Neal and Calvin Truesdale in 1960. In 1984, Bob’s son, Jack Neal, joined the company and eventually assumed the role of president when the founders retired.