Old National to Acquire Fort Wayne Insurance Agency

Evansville, Ind.-based Old National Bancorp has entered into an agreement to acquire Insurance & Risk Management, a 160-employee insurance agency with offices in Fort Wayne and Indianapolis.
Based in Fort Wayne, Insurance & Risk Management has annual revenues of $15 million with 145 employees in Fort Wayne and 15 employees in Indianapolis. Once the acquisition is complete, Insurance & Risk Management will operate as part of ONB Insurance Group.

Insurance & Risk Management represents Old National’s largest insurance agency acquisition this year. Most recently, Old National acquired Graham & Peat Insurance Agency in St. Louis and James L. Will Insurance Agency in Evansville. Following the closure of the Insurance & Risk Management acquisition, ONB Insurance will boast annual revenue of approximately $50 million. ONB Insurance will also have more than 400 employees dedicated to personal and commercial lines of insurance.

Insurance & Risk Management brings specific expertise in employee benefits administration as well as third party administration of self-funded plans. In addition, Insurance & Risk Management has a full menu of personal and commercial property and casualty insurance products.

Insurance & Risk Management was founded in 1963 and is Indiana’s second largest privately held broker and third party administrator. Insurance & Risk Management will retain its name for an unspecified period of time. All Insurance & Risk Management employees in Fort Wayne and Indianapolis will continue to work in their existing office spaces at Chestnut Hills Parkway in Fort Wayne and at Keystone Crossing in Indianapolis.

ONB Insurance Group is a part of Old National Signature Group, an umbrella financial services organization.

Topics Mergers & Acquisitions Risk Management