Associated Bank Parent Buys Insurance Agency Specializing in Work Comp

Thursday, May 3, 2018 | 0

A subsidiary of Associated Banc-Corp has purchased Anderson Insurance & Investment Agency, a Minneapolis-based independent insurance agency that specializes in workers’ compensation and executive risk management services.

Associated said that Anderson, founded in 1927, will be folded into its Associated Benefits and Risk Consulting business, based in Green Bay, Wisconsin, with more than 400 employees.

"Key executives will be retained in their existing roles for some time and assist with the integration," the company said.

Associated in March purchased Diversified Insurance Solutions in Milwaukee. The company said the acquisition of Anderson is expected to boost ABRC to among the top 45 insurance brokerage firms.

Associated has $33 billion in total assets and operates more than 270 Associated Bank branches in Wisconsin, Illinois and Minnesota.