Main Source Insurance Group Inc. has sold its Owensboro, Ky. Operation to The Anderson Group and spun off its insurance operations in two states into a new subsidiary. The Anderson Group is an Owensboro agency that offers insurance and financial services to individuals and businesses.
Terms of the sale, which comprises an insurance office in Owensboro, were not disclosed. The sale closed March 23.
The new MainSource Insurance division, which will operate as a subsidiary of Greensburg, Ind.-based MainSource Financial Group will continue to operate its offices in Indiana and Illinois.
“We remain committed to the concept of offering insurance products through our banking offices,” James L. Saner, president and CEO of MainSource Financial, said in a news release. “Since the Owensboro office was geographically isolated from MainSource banking locations, it was difficult to properly support and did not strategically fit into our future plans.”
MainSource Financial is a financial-services holding company that operates 56 banking centers and eight insurance offices in Southern Indiana and Illinois. The company has about $1.6 billion in assets.
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