Green Bay, Wisconsin-based Associated Banc-Corp (Associated) announced its Associated Benefits and Risk Consulting (ABRC) group will acquire Anderson Insurance & Investment Agency Inc. (Anderson), an independent insurance agency based in Minneapolis, Minnesota.
The transaction is expected to close next month. Terms of the transaction were not disclosed.
ABRC is a multi-line insurance and Midwest-based consulting firm with more than 400 employees. Anderson, which was founded in 1927, adds a range of complementary services and significant expertise in workers’ compensation and executive risk management services.
Based on 2017 financials, and the March 1, 2018, acquisition of Diversified Insurance Solutions the company believes the addition of Anderson will solidify ABRC’s position among the United States’ top 45 insurance brokerage firms.
As part of the proposed transaction, key Anderson executives will continue leadership roles for some time. Along with current ABRC senior leadership, the team will be responsible for the thoughtful integration and expansion of the business going forward.
Source: Associated Banc-Corp
Topics Mergers & Acquisitions
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