LITTLE FALLS, N.J. - Bisys Group Inc., an independent life insurance distributor and sales support provider, has purchased the Toner Organization insurance brokerage for an undisclosed amount.
Toner, of Exton, Pa., is 30 years old and one of the nation's largest private brokerages. It supports more than 7,000 insurance brokers with sales programs and access to products.
The Toner acquisition, announced June 28, was Bisys' fourth insurance-related purchase in 12 months. It bought Ascensus Insurance Services in July 2000, Advanced Markets LLC in March of this year, and Insurance Exchange of America in May.
Bisys connects about 100,000 agents and financial planners with products from more than 200 insurance companies.