Buckner Acquires Trucking Insurance Operation From Flying J Insurance Services

Buckner Acquires Trucking Insurance Operation From Flying J Jesse A Hamilton

The Buckner Co., a family-owner insurer broker based in Salt Lake City, is buying Flying J Insurance Services -- a specialist in trucking insurance. Terms were not disclosed.

Buckner Co. inked the purchase deal with Flying J and is now working out a strategy for meshing Flying J's business with Buckner's existing Ogden offices by the start of the year.

"This was a chance for us to expand our trucking practice," Terry H. Buckner, president and chief executive of the company, told BestWire. "Flying J has done a marvelous job over the years in building out their brand. For us, it becomes a great opportunity to strengthen our position, as well."

Buckner, a third-generation president of the 73-year-old company, said Flying J has been reorganizing and "put some feelers out to various firms around town." Buckner secured the deal and is looking forward to offering an expanded range of insurance services to Flying J's existing customers -- including in such areas as workers' compensation and employee benefits -- "a lot of products and services they may not have been able to get otherwise."

In a statement sent to BestWire by Mark Farmer, president of Flying J's insurance operation, he said, "We have been impressed in our interactions with Terry Buckner and his team and are confident that this move will also benefit our key people and market partners. ... This move enables the Buckner Co. to bring their considerable expertise to the trucking market in an expanded way." Flying J. reports up to $25 million in premiums a year, according to company officials, and has been in the trucking insurance business for 12 years.

Of Flying J's 23 insurance employees, Buckner said: "We're still going through our analysis, trying to decide how many -- if not all -- come our way."

He pointed out that the company is also in the process of expanding into the Idaho Falls area.

(Jesse A. Hamilton, Washington bureau manager: [email protected])

(c) 2009 A.M. Best Company, Inc. The Buckner Co., a family-owner insurer broker based in Salt Lake City, is buying Flying J Insurance Services -- a specialist in trucking insurance. Buckner Co. inked the purchase deal with Flying J and is now working out a strategy for meshing Flying J's business with Buckner's existing Ogden offices by the start of the year.