RJF Agencies sells unit to Spectrum Group
TBL has learned that Eau Claire-based RJF Agencies Inc. has sold its Eau Claire office's Select Business Unit (SBU) book of commercial insurance business to Spectrum Insurance Group of Chippewa Falls, effective May 1. No terms of the transaction were disclosed.
According to an RJF company news release, the deal was negotiated to help RJF streamline its operations and focus on helping middle-market companies throughout the region manage and reduce their cost of risk. RJF's SBU division was made up of companies typically employing 10 or fewer people. All corporate clients not part of the SBU division will continue to be serviced by RJF Agencies.
"This sale is about doing the right thing for all of our clients," said RJF Executive Vice President Tom Ziemann, who added, "This will align RJF more to the needs of the middle-market companies in the region..."