Johnson & Johnson Agency to Acquire Sunbelt General Agency From American Modern Insurance Group
Charleston, South Carolina – January 5, 2010 – Johnson & Johnson, a family-owned managing general agency, has announced that it has acquired the Sunbelt General Agency from American Modern Insurance Group. Terms of the agreement were not disclosed.
A subsidiary of American Modern Insurance Group since its inception in 1994, Sunbelt General Agency is a full service managing general agency based in Montgomery, Alabama. In addition to writing products with the insurance companies of American Modern Insurance Group, Sunbelt also has an in-house insurance brokerage division and a premium finance division, Sunbelt Premium Finance.
"Bringing this agency into the Johnson & Johnson fold provides us with a significant opportunity to expand our reach into the Alabama and Mississippi region served by Sunbelt," said Francis Johnson, President of Johnson & Johnson. All of the current Sunbelt employees will be retained as employees of Johnson & Johnson.
Based in Charleston, S.C., Johnson & Johnson provides services to agents in South Carolina, North Carolina, Georgia, Alabama, Mississippi, Tennessee, Virginia, Maryland, Pennsylvania, Delaware, and New Jersey. They offer access to a broad array of products, including personal lines, commercial lines and premium financing. Founded in 1930, the third generation ownership of Johnson & Johnson has continued to expand its geographic markets while maintaining its family culture. Additional information on the company can be found at http://www.jjins.com.
"Sunbelt General Agency has long been a significant contributor to American Modern's success in Alabama and Mississippi. Because our business is primarily focused on underwriting as opposed to agency-based production, we feel Sunbelt will be better positioned with one of our top general agent partners," said Todd Gray, president of American Modern Insurance Group. "We are confident that the employees, agents, and customers of Sunbelt will remain in good hands with Johnson & Johnson, which is a charter member of American Modern’s Summit Club and one of our key agency partners.”
The insurance companies of American Modern Insurance Group, which are headquartered in Cincinnati, Ohio, provide specialty insurance products and services. American Modern, rated A+ by A.M. Best, insures manufactured housing, site-built homes, motorcycles, watercraft, snowmobiles, recreational vehicles, classic autos, and long-haul trucks. It also provides extended service contracts, excess and surplus lines coverages, credit life and related products, as well as collateral protection and mortgage fire products sold to financial institutions and their customers. Additional information regarding American Modern can be found on at www.amig.com.
For more information, contact: