GREEN BAY, Wis., June 23, 2016 /PRNewswire/ -- Associated
Bank has announced that it will rebrand its Associated Financial Group (AFG) subsidiary to Associated Benefits and Risk
Consulting (ABRC). The move follows the February 2015 acquisition and subsequent integration of
Ahmann & Martin Co., a risk and benefits consulting firm operating in the Midwest, into AFG.
AFG is among the top 50 insurance brokers operating in the U.S. and the 2nd largest employee benefits specialist
broker, according to Business Insurance magazine. It is also one of the top insurance brokerage firms in the Midwest. AFG
will officially adopt the Associated Benefits and Risk Consulting name upon completion of state licensure filings in all states.
That process is expected to be completed in 2016.
"This vibrant business combination has exceeded our expectations in terms of bringing the teams together, delivering
exceptional value to clients and financial performance," said William M. Bohn, Associated
executive vice president and head of Private Client & Institutional Services, which includes ABRC. "Renaming the business
Associated Benefits and Risk Consulting is a logical strategic step to better represent the enhanced capabilities of our combined
firm and bring clarity to the market in terms of the capabilities and approach we offer our clients."
In financial statements earlier this year, Associated shared that the acquisition had contributed to record insurance
commissions of $21 million in the first quarter of 2016. In addition, its expanded property and
casualty capabilities increased insurance revenues 70% year-over-year from both the integration and organic growth.
"Our areas of expertise and resources combined with Associated Bank's expanded financial services permit our customers to
centralize management of services through one valued partner," said Dean Hildebrandt, ABRC chief
executive officer. "We believe in removing obstacles, simplifying the complicated and applying our expertise to solve problems
for our clients so they can focus on their business and achieve their aspirations."
In the risk management and business insurance area, ABRC offers total cost of risk consulting, specialty coverage expertise,
industry specialization and more. The company's employee benefits and human resources expertise includes HR solutions, technology
consulting, health management and wellness, actuarial analysis and retirement plan services.
Minneapolis operations to be consolidated in Minnetonka
ABRC will move its operations into a four-story, 93,000-square-foot office building at 6000 Clearwater Drive in
Minnetonka, MN in early 2017. This brings employees from three locations – Minnetonka, Edina and Eden Prairie – into
one headquarters. The organization employs a total of more than 370 individuals serving approximately 14,000 clients throughout
[Minnesota, Wisconsin and Illinois.]
ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of over $28 billion and is one of the
top 50 publicly traded U.S. bank holding companies. Headquartered in Green Bay, Wisconsin,
Associated is a leading Midwest banking franchise, offering a full range of financial products and services from over 200 banking
locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal
Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.
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SOURCE Associated Banc-Corp