Bankers Insurance Group has reached an agreement with AIX Group to acquire its Florida policies as part of a strategy to increase Bankers’ presence in the state’s Latino community.
Under the terms of the deal, as of March 1, Bankers acquired the renewal right and servicing of AIX Florida’s current book of business. The Miami-based AIX Florida is part of the AIX Group, which is a member of the Hanover Insurance Group.
The St. Petersburg, Fla.-based Bankers Insurance is a subsidiary of the Bankers Financial Group. The insurer has specialized in offering business owners policies for over 20 years. Its products include Preferred Office, Homeowner Association and Mobile Home Park products. The insurer also offers homeowners insurance, flood insurance and various life and annuities coverage.