Ash Brokerage and InSource Combine Annuity Brokerage Businesses

 

Fort Wayne, IN – September 29, 2010 – Ash Brokerage Corporation (Ash) and InSource, Inc. (InSource) today announced the completion of the combination of their annuity brokerage businesses as Ash InSource LLC (Ash InSource), the combined operating entity since September 1, 2010.

The transaction combines two of the nation’s leading distributors of fixed and equity-indexed annuity products into a single company with substantial depth of resources and expertise that will uniquely meet the needs of financial professionals throughout the country. The combination of the annuity brokerage businesses of Ash and InSource creates a distribution company with annual fixed and equity-indexed annuity sales in excess of $1 billion.

“Joining forces with InSource allows us to serve more capacity and enhance our clients’ practices by providing expanded resources and an even broader annuity product portfolio,” said Tim Ash, Ash President and CEO. “We are thrilled to unite with an outstanding company that shares our commitment and passion to be the industry’s premier outsourcing partner to financial professionals.”

“Ash and InSource’s new partnership will offer substantial opportunities for expansion and growth,” said Deck McCormick, CEO of Ash InSource. “It is our intention to have a significant national presence in providing superior annuity sales expertise.”

Over the next several months, Ash InSource will continue to work closely with clients, carriers and employees to ensure the integration process is as smooth as possible. In the meantime, clients and carriers will continue to receive the exceptional quality of service they have come to expect from Ash and InSource.

Contemporaneous with completion of the annuity brokerage businesses combination, Ash and InSource executed a non-binding letter of intent for the proposed acquisition of the life insurance brokerage business of InSource by Ash. Ash and InSource are completing ordinary due diligence and are working toward definitive agreements. 

“Acquisition of InSource’s life insurance distribution – on the heels of combining our annuities operations – will allow us to better focus and leverage management, sales, marketing and supporting staff in both the annuities and life insurance distribution lines of business through full integration of InSource with Ash,” said Tim Ash. 

About Ash Brokerage Corporation

Founded in 1971, Ash Brokerage Corporation is a national leader in the insurance brokerage industry, providing insurance and financial professionals with access to a comprehensive portfolio of product resources. With 19 office locations in the United States, Ash Brokerage is staffed by highly experienced professionals specializing in life insurance, annuities, long term care, disability income, advanced markets and underwriting. For additional information, visit www.ashbrokerage.com.

About InSource, Inc.

InSource, Inc., established in 1987, is a family-owned firm located in Indianapolis, Indiana. Representing more than a dozen national life insurance companies under independent contract agreements, InSource markets annuity and life insurance products to financial advisors and institutions. Superior product, service and sales support are hallmarks of our work. Our model of wholesaler support is based on quality relationships that are built on trust, integrity, and a sincere interest in mutual success. For additional information, visit www.insourcemg.com.