German American Bancorp announced today that it has purchased two property/casualty insurance agencies: Hoosierland Agency based in Jasper, Ind., and Stafford Williams Agency based in Washington, Ind.
The addition of these agencies represents about a 50 percent increase in the company’s property/casualty insurance commission revenues with total annual insurance revenues now expected to exceed $4 million. Both agency operations will become part of the Doty Agency Inc., the company’s property and casualty insurance entity.
Doty provides a full line of personal and corporate insurance products as agent under separate distinctive agency names from insurance offices located throughout the company’s market area. The Hoosierland Agency will merge with and become a part of German American Insurance, the Company’s existing Jasper-based insurance operations while Stafford Williams will continue to operate as an independent insurance office based in Washington.
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