The Insurance Group is a personal lines/commercial insurance agency located in Knoxville, Tennessee. Owner/Seller, Neil Zabo, found himself ready to sell his book of business in order to retire. Josh Witt, an existing employee of the company since 2006, stepped in to purchase the business.
“I could have sold this agency on other occasions to competitors,” said Zabo. “Those competitors may have come in and terminated half of our employees. It’s much easier to work with someone internally who is interested in maintaining that staff.”
Watch as both Neil and Josh explain how a loan and help from Live Oak Bank allowed them to easily transition that agency.
Live Oak Bank’s insurance lending division offers specialized insurance financing in all 50 states at attractive rates. Insurance professionals use Live Oak’s capital to acquire agencies, recruit new producers, execute perpetuation plans, refinance and more.Live Oak just appreciated us more than my bank down the street. Said Neil Zabo Owner/Seller, The Insurance Group Click To Tweet
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