Memphis, Tenn.-based Regions Insurance Group has acquired the assets of Miles & Finch Inc., a multiline insurance agency with offices in Kokomo, Carmel and Logansport, Ind. Transaction terms were not released.
Regions said Miles & Finch, in business nearly 100 years, will continue to trade under the Miles & Finch name, as part of the Regions Insurance Group. The firm writes annual premium of $100 million in personal and commercial lines insurance and employee benefits.
Mike Miles will remain as chief executive officer. J.J. Iovino was named president and chief operating officer. All current offices and 45 employees will be retained. The agency's headquarters will continue in its Kokomo location.
"This acquisition enables us to establish a platform agency in the state of Indiana," said Casey Bowlin, CEO of Regions Insurance Group. "We are pleased to have a strong management team in Mike Miles and J.J. Iovino, and to employ a very capable and experienced sales and service staff."
Regions Insurance Group has annual revenue of $100 million, 30 offices in eight states and 550 associates. It is a subsidiary of Regions Financial Corporation, a full-service financial institution based in Birmingham, Ala., with more than $140 billion in assets.
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