To purchase the assets of Chapman-Sander in an all-cash deal
UMB Scout Insurance Services, an affiliate of UMB Financial Corporation, has inked a definitive agreement to purchase the assets of Chapman-Sander, an insurance agency in St. Louis, Missouri, in an all-cash deal.
The agency will operate as an office of UMB Scout Insurance Services and will retain the Chapman-Sander name. Ron Burlison will remain in his role as president of Chapman-Sander, and will be reporting to Roger Forystek, president of UMB Scout Insurance.
Forystek, president of UMB Scout Insurance Services, said: “This is UMB’s first acquisition of an independent insurance agency. Although UMB has offered insurance products for some time, this indicates UMB’s focus on building a full range of insurance services which includes the property and casualty side of insurance. Insurance is a natural extension of UMB’s relationships in other lines of business and fits with our strategy of building a diverse financial services business model.”