Acordia Acquires Assets of Key Insurance Agency

Acordia Inc. has acquired the assets of Key Insurance Agency LLC in Wasilla and Anchorage, Alaska. This is the Acordia’s 17th acquisition in 11 states the past three years — the second in Alaska.

The acquisition closed May 1, 2006. Terms of the transaction were not disclosed.

Serving customers since 1996, Key Insurance Agency is a leading provider of insurance products for business customers, specializing in transportation and small construction. The agency’s professional staff will continue serving customers from the Acordia office at 1500 W. Benson Boulevard, Suite 102 in Anchorage, (907) 297-7300.

“We’ll continue to provide our customers with quality service, superior products and the same professionalism as we have done in the past,” said Cris Erickson, Principal of Key Insurance Agency. “Joining Acordia will be a great plus for our customers as we will be able to expand our insurance and risk management resources to better help protect our customers personal and business assets.”

“We’ve grown to become one of America’s largest brokerage companies by combining our national resources with great agencies like Key Insurance Agency who have local experience and expertise,” said H. David Wood, Regional Managing Director of Acordia’s West Region. “Key Insurance Agency will strengthen our presence in Alaska, and further support Acordia and Wells Fargo’s commitment to satisfy all our customers’ financial needs.”

“Acordia has built its reputation in the insurance brokerage world by acquiring retail brokerage operations around the country and also growing market share by seeing to satisfy all its customers’ insurance needs,” said Pete Wissinger, President and CEO of Acordia, Inc. “Combining our national resources with great agencies like Key, who have local experience and expertise, helps us meet the risk and financial needs of a whole new group of customers.”

Source: Acordia

Topics Mergers & Acquisitions Agencies Alaska