Bankers Insurance Group, a unit of Bankers Financial, has signed an agreement to acquire AIX Group’s renewal rights and servicing of in-force Florida Select business (AIX Florida), effective from 01 March.
Under the terms of the agreement, both firms will work together to provide a seamless transition for policyholders and agents.
The acquisition is expected to leverage Bankers' growth plans ,which include larger presence in state's Hispanic market.
Bankers Insurance president Bill Martin said that the acquisition is a part of the company's ongoing efforts to reinforce ties to the Latino business community.
"This acquisition allows us to expand our geographic reach in the state and offer these new customers access to all of the products the Bankers organization has to offer," Martin added.
Bankers Insurance provides homeowners insurance, flood/excess flood insurance, annuities, life insurance and new home warranties as well as business owner products to its clients.