Sky Insurance, one of the top 50 US insurance agencies, is to acquire Ohio-based employee benefits company Benefit Design Agency in an effort to expand its client relationships in the Midwest.
Benefit Design Agency (BDA) specializes in the development, implementation and on-going service of employee benefit programs to employers of between 20 to 5,000 workers throughout the Midwest. The company focuses principally on self-funded health insurance plans and ancillary programs, such as group dental, life and disability insurance.
Commenting on the acquisition, Jerry Batt, CEO of Sky Insurance said Benefit Design Agency is a well-respected agency that focuses exclusively on employee benefits. Their talented executives, producers and service staff make the acquisition a great fit.
Roderick Wood, managing partner of BDA also expressed confidence that the combination of his company’s employee benefit focus with Sky’s current strategy would add value and benefit to clients, carriers and employees.
Sky Financial Group, which owns Sky Insurance, is a $15.2 billion diversified financial holding company with its headquarters located in Bowling Green, Ohio. Sky’s asset size places it among the 40 largest publicly-held bank holding companies in the US. The company operates over 280 financial centers and over 300 ATMs serving communities in Ohio, Pennsylvania, Michigan, Indiana and West Virginia.