NU Online News Service, Nov. 3, 2:14 p.m. EST
InsurBanc, the bank founded by insurance agents for insurance agents, said it has joined the American Association of Managing General Agents (AAMGA) as a business services member.
David Tralka, president and chief executive officer of Farmington, Conn.-based InsurBanc, said his firm's knowledge of the insurance industry "can help give MGAs a competitive edge in the marketplace. InsurBanc's array of professional cash management services can be beneficial in helping MGAs to create efficiencies to add to their bottom line."
InsurBanc, which offers full-service banking products and services to the insurance industry, was created in 2001to serve independent insurance agencies and their owners and employees.
The bank specializes in cash management services, as well as financing insurance agency perpetuations and acquisitions and working capital loans and debt refinancing.
