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Norman-Spencer buys assets of Phoenix-based insurance broker

Norman-Spencer Agency Inc. bought the business assets of Phoenix-based American Insurance Professionals, the Insurance Journal reported.

Terms of the deal were not disclosed.

American Insurance Professionals provides errors and omissions insurance, crime insurance, cyber insurance and statutory surety bonds to title professionals. It is an exclusive program manager of General Star, a Berkshire Hathaway Inc. company. Dayton, Ohio-based Norman-Spencer provides insurance services with property/casualty programs covering real estate, transportation, construction and professional lines.