RICHMOND, Va. - Bankers Insurance LLC, a consortium of Virginia community banks, has closed three insurance agency purchases.
All three agencies bought by the 67-bank group are in Virginia: Insurance Partners of Virginia in Staunton; Welton Duke & Hawks in Portsmouth and its Lexington affiliate Valley Insurance Services; and Washington Chichester & Clarke in Fredericksburg. All are full-service outfits, offering property and casualty as well as life and health products.
The closings were announced Jan. 12. Prices were not disclosed.
Bankers Insurance was created in July 1999 to help community banks acquire insurance agencies. The average member has assets of $250 million.