Century Business Services (CBIZ) has agreed to sell its risk-bearing insurance operations to a consortium of financial entities for $31 million, contingent upon regulatory approval.
The consortium, made up of Avalon National Corp, along with Stonehenge Partners, Inc., Colonial Banc Corp., First Mutual of Richmond and Ohio Valley Banc Corp., will take over CBIZ’s risk-bearing insurance division, made up of Century Surety Company and Evergreen National Indemnity. CBIZ plans to use the proceeds for debt reduction.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Mustard Maker Caught Pumping Pollutants Into River for Years and Lying About It 
Data Centers Offer a Potential $10 Billion Windfall for Insurers 
AI Ruling Prompts Warnings From Lawyers: Your Chats Could Be Used Against You 
Connecticut High Court: Injured Rental Car Occupants Covered for Uninsured Motorist 
