NU Online News Service, Jan. 7, 10:43 a.m. EST
Managing general agency Johnson & Johnson has acquired the Sunbelt General Agency in Montgomery, Ala. from American Modern Insurance Group. Financial terms were not disclosed.
Charleston, S.C.–based Johnson & Johnson said Sunbelt General Agency is a full service managing general agency with 17 employees that annually produces $23 million in premium. The firm has been an American Modern Insurance Group subsidiary since its inception in 1994,
In addition to writing products with the insurance companies of Cincinnati–based American Modern Insurance Group, Sunbelt also has an in-house insurance brokerage division and a premium finance division, Sunbelt Premium Finance.
Francis Johnson, president of Johnson & Johnson said in a statement that the deal allows the firm to expand into Alabama and Mississippi.
All of the current Sunbelt employees will be retained as employees of Johnson & Johnson, the firm said.
Johnson & Johnson provides services to agents in South Carolina, North Carolina, Georgia, Alabama, Mississippi, Tennessee, Virginia, Maryland, Pennsylvania, Delaware, and New Jersey.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.