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Burlington, Iowa--(Newsfile Corp. - January 4, 2021) - It was announced today that World Insurance Associates (WIA) has finalized a deal to purchase Two Rivers Insurance Company (TRIC) from Two Rivers Financial Group (OTC Pink: TRVR). This includes Two Rivers Insurance Services (TRIS) and Employee Benefits Systems (EBS).
"We are pleased that this transaction will allow TRIS and EBS to be in the national network of WIA's regional insurance agencies, allowing our customers to have access to more carriers at competitive prices," said Ned Skinner, chairman of TRIC.
TRIC, which will keep its name, will continue to be headquartered in Burlington and offices in Ft. Madison, West Des Moines, and Earlham will remain operational. All current employees have transferred to WIA and Todd Ackerman will continue as President and CEO.
"TRIC has been an important part of the Two Rivers Financial Group portfolio since 1999," said Frank Delany, chairman of Two Rivers Financial Group. "We are confident the business will be in good hands with WIA which has been recognized as a Top 100 US Broker, Top 100 US P/C Agency and has been named a Best Place to Work for the past two years."
The transaction became final on December 31, 2020. Marsh, Berry & Company, Inc. acted as financial advisor to Two Rivers Financial Group.
About Two Rivers Financial Group:
Two Rivers Financial Group, Inc., through its wholly owned subsidiary of Two Rivers Bank & Trust, offers financial solutions encompassing banking and trust and investment management services with locations in Ankeny, Bettendorf, Burlington, Coralville, Keokuk, Des Moines, Iowa City, Mediapolis, Mount Pleasant, West Burlington, and West Des Moines. For more information, please visit www.tworivers.bank.
Founded in 1981, MarshBerry serves the Insurance Brokerage industry and helps insurance agents & brokers, specialty distributors, private equity firms, banks & credit unions and insurance carries through industry-specific services that include: Merger & Acquisition Advisory, Debt & Equity Capital Raising, Organic Growth Consulting, Intellectual Capital and Connect-Peer Exchange Network. Learn more www.MarshBerry.com.
CONTACT: Stacey Meyer
222 North Main Street
P.O. Box 728
Burlington, IA 52601
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/71322