Jack Henry & Associates Divests Banc Insurance Unit

Published July 01, 2008, 7:03 p.m. EDT

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Updated August 27, 2020, 1:10 a.m. EDT

1 Min Read

MONETT, Mo. – Jack Henry & Associates yesterday said it agreed to sell its Banc Insurance Services unit.

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The provider of turnkey insurance operations, which was acquired by Jack Henry in 2004, will be renamed Insuritas Inc., with its founder, Jeffrey Chesky, serving as president and CEO. Existing employees will join the independent company.

Jack Henry will maintain a strategic business alliance with Insuritas and will actively refer current and prospective customers interested in offering commercial and personal lines of insurance to it.

Financial terms of the leveraged buyout were not disclosed.

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