National City Banks Sells 2 Florida Insurance Agencies

March 4, 2009

An independent holding company owned by an insurance industry veteran has purchased Harbor Insurance Agency and Florida Consolidated Agency, both former wholly owned subsidiaries of National City Bank.

The new owner, Tom Cook, has extensive insurance industry experience. Prior to acquiring Harbor Insurance, he was president of National City Insurance Group, Inc. Prior to joining National City, Cook was president and CEO of Acordia of Northeast Ohio (now Wells Fargo Insurance). He also worked for Progressive Insurance Co. for nine years and last held the position of general manager and CFO, Transportation Division.

National City acquired the two property/casualty agencies in conjunction with its 2006 and 2007 acquisitions of Fidelity Federal Bank & Trust and Harbor Federal Bank.

The two agencies, which operated in eight eastern Florida coast locations, will be consolidated into one new organization, Harbor Insurance. Former Florida Consolidated Agency offices located in Juno Beach and Greenacres will be absorbed into a new West Palm Beach office. The former Harbor Insurance Agency locations in Palm Bay and Palm City will be consolidated with the existing Vero Beach office. Harbor Insurance will also continue to operate existing offices in Fort Pierce and Port St. Lucie, for a total of four locations.

Former Harbor Insurance Agency President David Willbur and former Florida Consolidated Agency President Bill Lay will remain in leadership roles with the new company. Lay will remain a president and focus on personal lines and the West Palm Beach locations. Willbur will remain a president and manage commercial lines and the St. Lucie County locations.

Source: Harbor Insurance

Topics Mergers Agencies Florida

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