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BEECHER CARLSON ACQUIRES SAGE INSURANCE GROUP

Transaction Expands Beecher Carlson’s Footprint in the Pacific Northwest Region

ATLANTA, GA and PORTLAND and BEND, OR – (December 15, 2008) – Beecher Carlson, the fastest growing commercial insurance brokerage and risk management consultancy in the country, announced today that its Oregon operation has successfully acquired Sage Insurance Group located in Bend, Oregon. The transaction supports Beecher Carlson’s plans to partner with firms where there is strategic alignment to expand geographically in high-growth areas of the country. Sage’s presence in Central Oregon expands Beecher Carlson’s footprint in the State, adding to its existing offices located in Portland, Medford and Eugene.

The specific financial terms of the transaction were not disclosed but included cash and Beecher Carlson stock in exchange for the operating assets of the agency. The agency will conduct business as Beecher Carlson and operate from its existing office in Bend.

Sage is a leading independent insurance agency in Central Oregon. The specialized lines of business provided by Sage include property and casualty, farms, benefits and personal lines. The agency is led by Butch Goette, Owner and Julie Hammond, President, both of whom will retain management positions with the company. Bill Mooney, Executive Vice President for Beecher Carlson in Portland, will work closely with the team at Sage to continue servicing clients and perspective clients in Central Oregon.

Sage Insurance was founded in 1980 by Mark Farstvedt and has grown into one of the largest independent insurance agencies in Central Oregon. Butch Goette joined the agency in 1998 and assumed ownership in February 2000. Prior to Sage, Goette served as Vice President of Marketing for Northern Insuring Agency in Plattsburgh, NY. He has held positions on regional and national advisory boards for numerous insurance companies, including USF&G, Royal Insurance, CNA Insurance, the New York Schools Insurance Reciprocal and the New York Municipal Insurance Reciprocal. Butch holds a Bachelors Degree in History and Masters Degree in education from St. Lawrence University.
Julie Hammond joined Sage Insurance in 1993. She has 23 years experience in the insurance industry. Julie’s responsibilities include management of the day-to-day operations of the firm, production of commercial property and casualty accounts and community involvement. She was recognized as Insurance Woman of the Year in 1995 by the Insurance Association of Central Oregon. In February 2000, Julie was appointed Vice President of Operations for Sage and in January 2007 assumed the role of President. Julie holds a Bachelors Degree in Management from Linfield College, McMinnville, Oregon.

“Beecher Carlson has a rich heritage of growth driven by innovation and passion,” said Goette. “This transaction provides our customers with access to more products, services and expertise, and it provides our employees with greater opportunities for personal and professional growth” he added. “We look forward to being part of the Beecher Carlson team and making a significant contribution in the Pacific Northwest region,” Goette said.

“Joining forces with Sage Insurance is consistent with our goal to partner with firms where there is synergistic product expertise,” said Steve Denton, President of Beecher Carlson. “The acquisition of Sage expands our geographic footprint in Oregon and enhances our ability to serve customers throughout the State,” added Mooney. “We are fortunate to welcome Butch Goette, Julie Hammond and their team to the Beecher Carlson Pacific Northwest operation. We look forward to the continuance of excellent service which Sage started 28 years ago,” Mooney added.

About Sage Insurance

Sage is a leading independent insurance agency in Central Oregon focused on middle market business. The specialized lines of business provided by Sage include property and casualty, farms, benefits, personal lines and select. Since 1980, Sage has supported the changing and growing needs of the people and businesses of Central Oregon and is recognized for providing exceptional client service. For more information, call 888-382-1611 or visit www.sageins.net.

About Beecher Carlson

Beecher Carlson is the 36th largest broker in the United States and the 8th largest captive manager worldwide. Unique to Beecher Carlson is its laser focus on specialized industries that include healthcare, lodging, gaming, real estate and construction, energy, business services, retail, manufacturing and telecommunications. A privately held company with corporate offices in Atlanta, Beecher Carlson also maintains operations in Bermuda; Boston; Irvine, Los Angeles, San Francisco, Walnut Creek and Woodland Hills, California; Connecticut; Denver; Florida; Honolulu; Dallas and Houston, Texas; Eugene, Portland and Medford, Oregon; Gulfport Mississippi; Minnesota; Las Vegas; New Jersey, New York; Nashville; Phoenix; Providence, Rhode Island and Burlington, Vermont. For more information, call 800-657-0243 or visit www.beechercarlson.com.

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