First Financial Holdings, Inc. has acquired South Carolina-based Johnson Insurance Associates Inc., an independent agency.
Established in 1983, Johnson Insurance specializes in commercial business accounts. The firm’s operations also include Benefits Administrators, Inc., which provides third party administration of self-funded benefit plans throughout South Carolina.
The acquisition will greatly expand First Financial’s insurance operations, which are currently among the largest in South Carolina. Its existing insurance agency, First Southeast Insurance Services Inc., operates offices in Conway, Lake City, Florence, Myrtle Beach, and Charleston. A First Southeast subsidiary, Kinghorn Insurance, also operates offices in Hilton Head Island, Bluffton, and Ridgeland.
With the acquisition of Johnson Insurance Associates, First Financial’s insurance premiums written will approximate $75 million annually and will represent more than 70 major insurance companies.
Topics Mergers & Acquisitions
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