The Columbus, OH-based institution purchased the assets of 50-year-old J. Rolfe Davis Insurance Agency Inc. for an undisclosed price. The amount of real estate involved in the deal was also not disclosed.
Davis executives will continue to run the agency for Huntington National Bank, the primary subsidiary of the Ohio parent. The agency this year expects to generate $150 million in premiums and about $15 million in revenue. Davis has 30 agents and a support staff of 70. The agency hopes to garner new business leads through the bank's customers.
Insurance agencies nationally have been under pressure since last year when the Congress removed restrictions that had prevented banks, brokerages and insurance companies from straying into each other's businesses.
Huntington Bancshares has 135 branches in Florida, mostly in Central Florida and along the Gulf Coast from the Tampa area to Naples.
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