A member of holding company Associated Banc-Corp has closed its acquisition of an independent insurance agency based in Minneapolis.
The member, Associated Benefits and Risk Consulting (ABRC), has acquired Anderson Insurance & Investment Agency; terms of the transaction were not disclosed.
Following the transaction, Anderson will be part of ABRC – a multi-line insurance and consulting firm with 400 employees that serves the Midwest. ABRC believes that the deal will solidify its presence among the US’s top 45 insurance brokerage firms. The Anderson team will gain access to Associated’s banking and financial services, further helping its clientele.
Key executives on the Anderson team will continue in leadership roles. They will work with ABRC senior leadership to oversee the integration and expansion of the business.
“These two strong teams will together provide customers with even more options and resources in financial and risk management services to ensure their businesses are as strong and successful as possible,” said ABRC CEO Dean Hildebrandt.
Founded in 1927, Anderson adds a suite of “complementary services and significant expertise in workers’ compensation and executive risk management services,” a release said.
