GREEN BAY, Wis., June 23, 2016 /PRNewswire/ -- Associated
Bank has announced that it will rebrand its Associated Financial
Group (AFG) subsidiary to Associated Benefits and Risk Consulting
(ABRC). The move follows the February
2015 acquisition and subsequent integration of Ahmann &
Martin Co., a risk and benefits consulting firm operating in the
Midwest, into AFG.
AFG is among the top 50 insurance brokers operating in the U.S.
and the 2nd largest employee benefits specialist broker,
according to Business Insurance magazine. It is also one of
the top insurance brokerage firms in the Midwest. AFG will
officially adopt the Associated Benefits and Risk Consulting name
upon completion of state licensure filings in all states. That
process is expected to be completed in 2016.
"This vibrant business combination has exceeded our expectations
in terms of bringing the teams together, delivering exceptional
value to clients and financial performance," said William M. Bohn, Associated executive vice
president and head of Private Client & Institutional Services,
which includes ABRC. "Renaming the business Associated Benefits and
Risk Consulting is a logical strategic step to better represent the
enhanced capabilities of our combined firm and bring clarity to the
market in terms of the capabilities and approach we offer our
clients."
In financial statements earlier this year, Associated shared
that the acquisition had contributed to record insurance
commissions of $21 million in the
first quarter of 2016. In addition, its expanded property and
casualty capabilities increased insurance revenues 70%
year-over-year from both the integration and organic growth.
"Our areas of expertise and resources combined with Associated
Bank's expanded financial services permit our customers to
centralize management of services through one valued partner," said
Dean Hildebrandt, ABRC chief
executive officer. "We believe in removing obstacles, simplifying
the complicated and applying our expertise to solve problems for
our clients so they can focus on their business and achieve their
aspirations."
In the risk management and business insurance area, ABRC offers
total cost of risk consulting, specialty coverage expertise,
industry specialization and more. The company's employee benefits
and human resources expertise includes HR solutions, technology
consulting, health management and wellness, actuarial analysis and
retirement plan services.
Minneapolis operations to be
consolidated in Minnetonka
ABRC will move its
operations into a four-story, 93,000-square-foot office building at
6000 Clearwater Drive in Minnetonka,
MN in early 2017. This brings employees from three locations
– Minnetonka, Edina and Eden
Prairie – into one headquarters. The organization employs a
total of more than 370 individuals serving approximately 14,000
clients throughout [Minnesota,
Wisconsin and Illinois.]
ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE:
ASB) has total assets of over $28
billion and is one of the top 50 publicly traded U.S. bank
holding companies. Headquartered in Green
Bay, Wisconsin, Associated is a leading Midwest banking
franchise, offering a full range of financial products and services
from over 200 banking locations serving more than 100 communities
throughout Wisconsin, Illinois and Minnesota, and commercial financial services
in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal
Housing Lender, Equal Opportunity Lender and Member FDIC. More
information about Associated Banc-Corp is available at
www.associatedbank.com.
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SOURCE Associated Banc-Corp