FARMINGTON, CONN., -- InsurBanc, the federal savings bank jointly developed by the Independent Insurance Agents & Brokers of America (IIABA) and the W.R. Berkley Corporation to serve independent agents and brokers and their clients, announced that Brian H. Burke, ASA, has been appointed to its Board of Directors.
Mr. Burke is the founder and president of Westbrook, CT-based B.H. Burke & Co., Inc., a firm specializing in providing business valuation, financial-advising, and management-consulting services to independent insurance agents and brokers. Among his firm’s areas of expertise are merger and acquisition consulting, business valuation, agency perpetuation planning, and owner and producer compensation planning.
An officer of InsurBanc commented: “We are extremely excited to have Brian on the InsurBanc Board. His knowledge and expertise in the independent insurance agency business will be a great addition to the bank’s leadership.” Mr. Burke’s addition to the Board of Directors is seen as a complement to the bank’s expertise in insurance agency and brokerage-firm valuations — a key consideration for the bank as it works with IIABA members on loans and lines of credit.
Mr. Burke holds Master of Arts and Bachelor of Arts degrees in economics from the University of Connecticut. He is the author of numerous articles on the valuation and management of independent agencies, published in Business Valuation Review and insurance-industry trade publications. He also is past president of the American Society of Appraisers’ Connecticut chapter. He resides in Madison, Connecticut.
Headquartered in Farmington, Conn., InsurBanc is the operating subsidiary of Peyton Street Independent Financial Services Corporation, a thrift holding company jointly owned by IIABA and W.R. Berkley Corp. and its subsidiaries.
Organized in 2001, InsurBanc is a federal savings bank, the deposits of which are insured to applicable limits by the FDIC.Web address: www.InsurBanc.com.
Founded in 1896, IIABA is the nation’s oldest and largest national association of independent insurance agents and brokers, representing a network of more than 300,000 agents, brokers and their employees nationally. Its members are businesses that offer customers a choice of policies from a variety of insurance companies. Independent agents and brokers offer all lines of insurance—property, casualty, life and health—as well as employee benefit plans and retirement products. Web address: www.independentagent.com.
Founded in 1967, W. R. Berkley Corporation (NYSE:BER) is an insurance holding company which operates in five segments of the property and casualty insurance business:specialty insurance, alternative markets, reinsurance, regional property casualty insurance, and international.