Teachers Credit Union (TCU) Insurance Agency announced that it has acquired the insurance business of Summit Insurance Agency Inc.
Effective August 16, the agency became known as Summit Insurance, a division of TCU Insurance Agency LLC.
Prior to the transaction, Summit Insurance Agency Inc. was an independent insurance agency specializing in personal and commercial insurance, based in Indianapolis for more than 27 years. Looking ahead, the new Summit Insurance will continue offering its current plans and provide more options – a full line of personal, business, life and health insurance coverage – as an "integral part" of TCU Insurance Agency, and will leverage the more than 200 insurance companies TCU Insurance Agency represents.
"Acquiring the Summit business will help TCU Insurance better serve our Indianapolis community of members who have been asking for more direct access to our offerings," said Steve Neeser, president of TCU Insurance Agency, in a statement. "By securing Summit's expertise and physical presence in the market, we're able to meet those needs and welcome Summit clients."
John Ramsbottom, the founder of Summit Insurance and now commercial and benefits producer for TCU Insurance, stated that TCU Insurance "shares many of our same carriers, has a dedicated staff and the backing of the largest credit union in Indiana. Through this acquisition, we hope to strengthen our client promise to provide the best level of service for any insurance need."
Based in South Bend, Ind., Teachers Credit Union has about $3 billion in assets.
