Skyla Insurance Services, LLC, a subsidiary of Skyla Credit Union, has acquired Policyline Insurance, a provider of insurance products and employee benefits consulting services.
The acquisition expands Skyla Insurance Services’ offerings and strengthens its ability to serve Skyla Credit Union’s corporate accounts and sponsor companies.
As part of the transaction, Policyline Insurance owner Geoff Ricks has been appointed president of Skyla Insurance Services, effective immediately.
The Policyline team will integrate into Skyla Insurance Services, ensuring continued service for existing clients while expanding the available product portfolio. Policyline’s group benefits services will continue to operate under its existing name in the marketplace.
Ricks said that joining Skyla Insurance Services provides an opportunity to expand Policyline’s reach while maintaining its approach to customized insurance solutions.
"Policyline Insurance has always been committed to providing top-tier service and customized insurance solutions, and now, as part of Skyla Insurance Services, we are able to offer even more value to our clients. This acquisition allows us to broaden our reach and serve the needs of Skyla Credit Union's members, corporate accounts, and sponsor companies with enhanced offerings that align with their unique needs,” Ricks said.
Skyla Financial Solutions president Ray Crouse (pictured above) said the acquisition is part of Skyla’s ongoing strategy to enhance its services for members and corporate clients.
"This acquisition marks a significant step in our ongoing efforts to expand the services we provide to our members and corporate partners. By integrating Policyline's expertise and resources, we are better positioned to offer comprehensive insurance solutions that meet the diverse needs of our clients, all while enhancing the value we deliver to Skyla Credit Union's members,” Crouse said.
Capstone Strategic, Inc. advised Skyla Financial Solutions on the transaction. Crouse acknowledged Capstone’s role in navigating the acquisition process and aligning the deal with Skyla’s strategic goals.
The transaction closed on Jan. 2 and is now in effect.
What are your thoughts on this story? Please feel free to share your comments below.
