Associated Banc-Corp (NYSE: ASB) (“Associated”) announced today that Associated Benefits and Risk Consulting (ABRC) has closed the previously announced acquisition of Anderson Insurance & Investment Agency, Inc. (“Anderson”), an independent insurance agency based in Minneapolis. Terms of the transaction were not disclosed.
Anderson will be part of ABRC, a multi-line insurance and Midwest-based consulting firm with 400 employees. 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.
Anderson, which was founded in 1927, adds a range of complementary services and significant expertise in workers’ compensation and executive risk management services.
The Anderson team will gain access to Associated’s comprehensive banking and financial services and can further help business owners and executives manage their daily business, take care of employees and achieve all of their financial goals.
“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 Dean Hildebrandt, CEO, ABRC.
Key Anderson executives will continue in leadership roles and work with ABRC senior leadership to ensure the thoughtful integration and expansion of the business going forward.
Statements made in this document which are not purely historical are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. This includes any statements regarding management’s plans, objectives, or goals for future operations, products or services, and forecasts of its revenues, earnings, or other measures of performance. Such forward-looking statements may be identified by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “estimate,” “should,” “will,” “intend,” “outlook,” or similar expressions. Forward-looking statements are based on current management expectations and, by their nature, are subject to risks and uncertainties. Actual results may differ materially from those contained in the forward-looking statements. Factors which may cause actual results to differ materially from those contained in such forward-looking statements include those identified in the Company’s most recent Form 10-K and subsequent SEC filings. Such factors are incorporated herein by reference.