Acquisition strengthens Euclid’s presence in several industry sectors and further grows its personal lines client base
ITASCA, Ill., Dec. 17, 2008 — Euclid Insurance Services, Inc. (http://www.euclidinsurance.com/), has acquired Park Ridge, Illinois-based The American Insurance Agency, Inc. (http://www.amerins.com/), a leading retail insurance agency offering commercial property and casualty, employee benefits and personal lines insurance services to clients throughout the Midwest.
Founded in 1936, The American Insurance Agency specializes in providing insurance products and risk management services to the manufacturing, wholesale, retail, construction and professional services industries. The acquisition further strengthens Euclid’s presence in those sectors while adding to Euclid’s growing personal lines client base. American Insurance Agency Chairman Roger Hackett and President Robert McDonnell and their associates have relocated to Euclid’s offices in Itasca, Illinois.
Thanks to the additional risk management, loss control and claim services offered by Euclid’s commercial lines division, existing American Insurance Agency customers can expect a greater depth of available services focusing on their specific needs. Together, Euclid and American have the capacity to place business with most major insurance companies underwriting middle-market commercial risks.
“This acquisition complements both Euclid and American,” said John Colis, president and CEO of Euclid. “American has a proven track record of delivering high-quality service and building strong professional relationships with its clients. These characteristics make American an ideal merger partner and great cultural fit with Euclid. The combination of the two organizations will benefit both our customers and our insurance company partners.”
ABOUT EUCLID INSURANCE SERVICES, INC.
Founded in 1952, Euclid Insurance Services, Inc. serves over 5,000 customers and generates annual revenues of $23 million. The family-owned, full-service agency offers a wide range of property, casualty, life, accident and health insurance products to individuals and businesses. To learn more, visit http://www.euclidinsurance.com.
CONTACT:
John Colis
Euclid Insurance Services, Inc.
Tel: 630-694-3700
Fax: 630-773-4075
jcolis@euclidinsurance.com
http://www.euclidinsurance.com/
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