Green Bay, WI – February 17, 2015 – Associated Banc-Corp (NYSE: ASB) (“Associated”) announced today that it has closed the previously announced acquisition of Ahmann & Martin Co., a leading risk and benefits consulting firm in Minnesota through a merger with and into Associated’s subsidiary, Associated Financial Group, LLC.
Associated Financial Group, LLC. is a leading benefits specialist firm with more than 240 insurance specialists across Associated’s three-state footprint and generating over $49 million of annualized insurance-related revenues. It provides employee benefits, business insurance and human resource consulting, and select individual/private insurance services. Ahmann & Martin Co. adds a range of complementary financial services such as employee benefits, risk management, and business insurance with specialization in industry-specific solutions.
Based on 2013 pro forma revenues, the company believes the combination of Ahmann & Martin Co. and Associated Financial Group, LLC will position it among the United States’ top 50 insurance brokerage firms. Together, the firms will employ more than 370 colleagues and serve approximately 14,000 clients.