Red Ventures moving into insurance sales [The Herald, Rock Hill, S.C.]

April 04--FORT MILL -- Red Ventures, the Internet marketing firm, is expanding into the insurance business, purchasing HomeInsurance.com.

The Wilmington, N.C.-based brokerage firm represents about seven different insurance agencies and promotes it can find the best coverage and the best cost for consumers.

Tim Kullick, an executive vice president and head of Red Ventures insurance division, said HomeInsurance.com fit the profile they were looking for -- a fast-growing firm that would complement other Red Venture products, especially those marketed to people moving.

People changing locations not only need insurance, but television and home security services, products that Red Ventures markets for others.

This is the first insurance firm Red Ventures has acquired, Kullick said. Terms of the deal were not disclosed.

"This will help us leverage the power of the Internet," Kullick said.

HomeInsurance, which employs about 125 people, will stay in Wilmington, Kullick said..

Expansion of the insurance business could result in some hiring at the company's Fort Mill headquarters, he said. There are about 800 employees at the Fort Mill location. Red Ventures also has operations in Miramar, Fla. and San Antonio, Texas.

Don Worthington 803 329-4066

___

(c)2012 The Herald (Rock Hill, S.C.)

Visit The Herald (Rock Hill, S.C.) at www.heraldonline.com

Distributed by MCT Information Services