Broker buys benefits consulting and broker services firm
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Memphis, Tennessee-based insurance broker Regions Insurance Inc. said Monday that it has acquired Atlanta-based The A.I. Group Inc.
The terms were not disclosed.
The A.I. Group provides employee benefits consulting and insurance brokerage services for mid-size and large employers in the United States.
Co-founders and Managing Partners Dan Murphy and Dave Woodruff, along with The A.I. Group's 39 employees have joined Regions Insurance. Messrs. Murphy and Woodruff will continue to play a key role in the employee benefits consulting firm, Regions Insurance said in a statement.
The A.I. Group will operate under the name Regions Insurance. The employee benefits consulting firm will make the transition by the end of the year, according to a Regions Insurance spokeswoman.
“The A.I. Group has many years of experience providing large group employee benefits expertise to companies nationwide in a customized and strategic manner,” said Curren Coco, CEO of Regions Insurance Group.
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