Van Gilder Sells Colorado Springs Office To CB Insurance

June 9, 2008

Michael Van Gilder, CEO of Van Gilder Insurance Corp., and Steve Schneider, president of CB Insurance LLC, an affiliate of Central Bancorp, announced their firms have signed a letter of intent for the sale and purchase of Van Gilder’s Colorado Springs office.

The sale is part of the long-term growth strategy for both companies, as Van Gilder has been increasing its focus as a national firm with a major headquarters presence in Denver. The company said its aims to shift from a generalist insurance brokerage serving local markets, to a nationally ranked risk consultancy, serving clients across the United States and around the world.

Meanwhile, Central Bancorp has been expanding its portfolio of financial service offerings in the Colorado Springs market.

Details of the sale were not disclosed. The sale is expected to close within the next 30 days.

Employees of the Colorado Springs office will continue in their roles under the new leadership.

Van Gilder is a privately owned insurance brokerage firm based in Denver.

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