Apr 8, 2009 – Allegacy Services acquires Winston-Salem based agency
Allegacy Service acquires Estate and Business Insurance Services
Apr 8, 2009- Winston-Salem, NC: Allegacy Services has acquired Estate and Business
Insurance Services and merged it into its JBA Benefits unit, according to an
announcement.
Allegacy Services is a subsidiary of Allegacy Federal Credit Union, based in WinstonSalem. Estate and Business is also located in Winston-Salem.
Estate and Business provides group health and dental insurance to about 200 companies,
as well as individual health plans. It will now provide group health, life, business
insurance and property and casualty coverage through JBA Benefits.
Allegacy Services acquired JBA in 2007 to provide health, life, disability, dental, longterm care and retirement plans to individuals and businesses, said Ray Crouse, Allegacy
Services’ managing director.
“This acquisition expands both our Client Services Department and the Sales group,
allowing us to provide more creative and cost-effective insurance solutions to our
clients,” Crouse said.
Terms of the transaction were not disclosed.
Mystic Capital Advisors Group, LLC provided transaction advisory services to Allegacy
Services. For more information on Mystic Capital, please contact Kevin W. Smith at
704-366-2153 or visit www.mysticcapital.com.
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