LOUISVILLE, Ky., July 1 KY-Assurance-merge
LOUISVILLE, Ky., July 1 /PRNewswire/ -- Arison Insurance Services, Inc.,
has been sold to Assurance Investment Partners (AIP). Previously an affiliate
of Anthem Blue Cross and Blue Shield in Kentucky, Arison has six offices
across Kentucky and sells medical, dental, life and disability insurance to
groups and individuals.
The company will continue to operate under the Arison name and, effective
today, all of the Arison employees will be employed by AIP. Paul Anderson, who
served as vice president, will replace Tom Schifano as managing director of
the agency.
"The sale of Arison Insurance will ensure our internal sales team can
build on the successes of our core business and distribution models, while
allowing Arison to benefit from a management team focused on developing an
aggressive growth strategy," said Deb Moessner, president and general manager
of Anthem Blue Cross and Blue Shield. "Long-term, I believe this transaction
could lead to additional job creation and growth within Kentucky and
surrounding states."
AIP was established by a team of insurance and merger and acquisition
executives focused on building a national insurance brokerage agency that
offers a broad spectrum of insurance, benefits, products and services.
Founding partners for the firm include John Koko, a Florida-based executive
who has more than 20 years of experience in revenue and operational strategy;
Dan Needham, whose expertise is focused on business growth and business
development; Christina Rashid, who leads AIP's financial strategy and client
and development activities; and Jude Thompson, a former Anthem Blue Cross and
Blue Shield senior executive.
While Arison was an affiliate of Anthem Blue Cross and Blue Shield, it has
a system of relationships that spans across the state. According to Thompson,
a key investor with AIP, Arison's proven reputation in the marketplace and its
understanding of the industry made the agency an attractive investment option.
"Over the next several months, we will focus on implementing a strategy
that will allow AIP to expand its reach within the Kentucky and the
surrounding states," said Thompson. "The expertise and resources Arison brings
to AIP support this goal and further strengthen our long-term plans."
About Assurance Investment Partners (AIP)
AIP was established by insurance and merger and acquisition executives to
lead an aggregation in the insurance broker dealer industry. The four founding
partners -- John Koko, Daniel Needham, Christina Rashid and Joseph "Jude"
Thompson -- will combine their deep domain expertise with access to
institutional capital. AIP will focus on creating a nationally branded top 50
independent agency offering a broad spectrum of insurance and benefit products
and services with growth occurring organically and through transactions.
About Anthem Blue Cross and Blue Shield
Anthem Blue Cross and Blue Shield is the trade name of Anthem Health Plans
of Kentucky, an independent licensee of the Blue Cross Blue Shield
Association. (R)ANTHEM is a registered trademark of Anthem Insurance
Companies, Inc. The Blue Cross and Blue Shield names and symbols are
registered marks of the Blue Cross and Blue Shield Association. Additional
information about Anthem Blue Cross and Blue Shield in Kentucky is available
at www.anthem.com.
SOURCE Anthem Blue Cross and Blue Shield
