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Bankers Insurance completes Cabell Insurance purchase

Bankers Insurance has completed its acquisition of Cabell Insurance Associates. Cabell is the largest insurance agency in the Charlottesville, Virginia area. Cabell is also, to date, the largest acquisition by Bankers.

In addition to the main office in Charlottesville, Cabell also has an office in Culpeper, Virginia. All of Cabell’s current owners will remain with Bankers Insurance and play key leadership roles as part of the management team, the company said.

Established in 1999, Bankers Insurance is one the largest agencies in Virginia. With expected 2005 revenues of approximately $18 million, Bankers Insurance brings the unique combination of a large insurance agency with a focus on individuals and small businesses.

Owned by 60 community banks, which created the agency in conjunction with the Virginia Bankers Association’s Management Services division, Bankers Insurance has made eight insurance agency acquisitions since 2000 and now operates from 12 offices located throughout Virginia. The company also operates in other US states.