Commercial Real Estate, Capital, Insurance, Leasing & Management

Insurance Business: Franklin Street taps 30-year brokerage veteran as president of Insurance Services

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Franklin Street, a full-service commercial real estate and insurance services firm headquartered in Tampa, Florida, has appointed Rob Allen as president of its Insurance Services division.

What attracted Allen to Franklin Street was the firm’s “deep specialization” in the real estate space. The firm was founded in 2006 during one of the toughest real estate climates, and has since grown to include seven business divisions: Investment Sales, Tennant and Landlord Representation, Capital Advisory, Insurance, Property Management, and Project Management.

“Franklin Street was conceived initially as a very diverse real estate ecosystem, and there’s a great deal of collaboration across the various divisions of the organization,” said Allen. “What attracted me to Franklin Street was an opportunity to get very specialized at a time when I think that’s the trend in the insurance broker space in general.”

Franklin Street experienced a record year in 2021, achieving nearly 50% organic revenue growth and $1.5 billion in total transaction volume. The Insurance Services division – one of the firm’s largest divisions – grew by over 25% last year, achieving record revenue, earnings, new business wins and renewals.

Allen’s core focus in his new role will be to leverage Franklin Street’s collaborative platform to lead the insurance team into “new territory and historic growth”.

“To me, the ability to be innovative, and create new offerings and new resources – like our lender compliance solution – is a true differentiator, and I think that comes from being hyper-focused in the real estate space.”

Beyond developing new insurance solutions for commercial real estate clients, Allen will be focused on two priorities in the early stages of his Franklin Street career. The first is searching for new capacity, or finding ways to create capacity in what is quite a hard and restricted property insurance marketplace. 

“My other priority is to identify and attract talent,” he added. “At Franklin Street, we’ve got a really interesting story to tell, which a lot of people have never heard. I want to get our story out there in front of my insurance broker colleagues who are in the real estate space, and help them to understand that we’re a great place to be.”

Read the full article from Insurance Business.

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