CAPITAL ONE EXPANDING, PLANS TO HIRE 150 NEW AGENTS

Capital One Insurance Services, formerly InsLogic, an insurance broker in Oak Ridge, Tenn., plans to triple its work force. Capital One Insurance was acquired in January by Capital One Financial Corp., and wants to hire 150 insurance agents by July. A spokesman said it plans to hire another 150 sales people sometime later.

Thomas Farrell, Capital One Insurance Services president and chief operating oYcer, said the company will hire 30 people a month through July to work as agents in its Oak Ridge operation. The addition of 300 jobs will boost Capital One Insurance’s Oak Ridge work force to 450.

The mass hiring was motivated by the January acquisition of InsLogic by Capital One Financial, one of the top six U.S. credit card issuers. It also has mortgage lending and auto financing businesses. Capital One Financial posted $10.7 billion in 2004 sales, 2004 profits of $1.5 billion and has more than 17,000 employees.

Capital One sells nearly a dozen lines, including Travelers, Hartford, AIG and Safeco, for autos, homes, boats, motorcycles, recreational vehicles, campers and renters.

Topics Agencies