Assurance Investment Partners Purchases Arison Insurance Services from Anthem Blue Cross and B... ( LOUISVILLE Ky. July 1 /- Arison I...)

Assurance Investment Partners Purchases Arison Insurance Services from Anthem Blue Cross and Blue Shield

Date:7/1/2008

LOUISVILLE, Ky., July 1 /PRNewswire/ -- Arison Insurance Services, Inc., has been sold to Assurance Investment Partners (AIP). Previously an affiliate of Anthem Blue Cross and Blue Shield in Kentucky, Arison has six offices across Kentucky and sells medical, dental, life and disability insurance to groups and individuals.

The company will continue to operate under the Arison name and, effective today, all of the Arison employees will be employed by AIP. Paul Anderson, who served as vice president, will replace Tom Schifano as managing director of the agency.

"The sale of Arison Insurance will ensure our internal sales team can build on the successes of our core business and distribution models, while allowing Arison to benefit from a management team focused on developing an aggressive growth strategy," said Deb Moessner, president and general manager of Anthem Blue Cross and Blue Shield. "Long-term, I believe this transaction could lead to additional job creation and growth within Kentucky and surrounding states."

AIP was established by a team of insurance and merger and acquisition executives focused on building a national insurance brokerage agency that offers a broad spectrum of insurance, benefits, products and services. Founding partners for the firm include John Koko, a Florida-based executive who has more than 20 years of experience in revenue and operational strategy; Dan Needham, whose expertise is focused on business growth and business development; Christina Rashid, who leads AIP's financial strategy and client and development activities; and Jude Thompson, a former Anthem Blue Cross and Blue Shield senior executive.

While Arison was an affiliate of Anthem Blue Cross and Blue Shield, it has a system of relationships that spans across the state. According to Thompson, a key investor with AIP, Arison's proven reputation in the marketplace and its understanding of the industry made the agency an attractive investment option
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SOURCE Anthem Blue Cross and Blue Shield
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