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Virginia Bankers To Acquire The Gibson Agency

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NU Online News Service, July 9, 4:10 p.m. – Bankers Insurance L.L.C., Richmond, Va., says it plans to buy the Gibson Agency, Fairfax, Va.

The deal is the sixth agency acquisition Bankers has announced over the past nine months. The company expects to complete the transaction in October.

Gibson, established in 1963, is a full-service agency that sells life and health insurance as well as property-casualty insurance.

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Bankers Insurance was established in 1999 by the Virginia Bankers Association, Richmond, to acquire insurance agencies on behalf of its five dozen owner banks, and to help its owner banks sell insurance to their customers.

VBA Management Services, Inc., a subsidiary of the Virginia Bankers Association, provides management services for Bankers Insurance.

The agencies previously acquired by Bankers Insurance are Blue Ridge Insurance Group, Wytheville, Va.; Insurance Partners of Virginia, Staunton, Va;, Welton, Duke & Hawks, Portsmouth, Va.; Valley Insurance, Lexington, Va.; and Washington, Chichester & Clarke, Fredericksburg, Va.