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Edited by Christopher Simmons, senior news editor
ASH BROKERAGE CORPORATION COMPLETES BUYBACK FROM CLARICA U.S.
FORT WAYNE, INDIANA - Dec. 16, 2002 /Send2Press Newswire/ -- Ash Brokerage Corporation today announced that it had completed a transaction to re-acquire ownership of Ash Brokerage and its affiliate AFH Financial Consortium from Clarica Life Insurance Company - U.S. Clarica - U.S. had purchased an 85% interest in Ash Brokerage in 2001.
Ash Brokerage continues to be one of the leading general agencies and financial services providers in the U.S. It has relationships with over 40 major insurance companies and more than 20,000 agents nationwide. Ash has shown consistent year over year double digit growth in profit and revenue by concentrating on providing brokers and agents with underwriting expertise, back-office support, technology solutions and access to the most competitive life, health and annuity products for both fixed and variable distribution.
According to Tim Ash, President of Ash Brokerage, "I have never been more excited about our company's opportunities and potential. We have several major initiatives that we are undertaking for 2003 and this transaction will afford us the agility and flexibility we will need to reach our goals. The timing was right for this to occur and I appreciate the support and cooperation from Sun Life Financial and Clarica U.S." Ash Brokerage continues to have a strong relationship with Sun Life Financial as well as Clarica U.S.
Ash Brokerage is focusing on some major areas of opportunity through 2003:
- Continuing to provide excellent service and build relationships with its producers.
- Providing the producer with tools to help them better serve their customers including the Ash Underwriting Audit(sm), a sophisticated process for analyzing an insured's existing coverage and needs.
- Continued growth in the Ash underwriting and term processing center which provides industry leading turn-around times and underwriting expertise to its customers.
- Building centers of expertise and forming strategic alliances to provide easy to use tools and full back office technical and processing support for sophisticated sales strategies including 412(i), Deferred Compensation and Premium Finance.
- Partnering with re-insurance organizations and insurance carriers to deliver products tailored to meet the specific needs of the brokers and agents that Ash serves.
Ash Brokerage is located in Fort Wayne, Indiana where it has been since its inception in 1971. In addition to Fort Wayne it has offices in Novi, Michigan; Tampa, Florida; and Naples, Florida with a total of 102 employees.
Source of news:
Ash Brokerage Corp.
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