RACINE — Johnson Insurance Services will become Risk Strategies under the terms of an acquisition deal announced on Wednesday, April 26, that retains all 140 employee positions.
“Risk Strategies didn’t have a presence in Wisconsin until now,” said Carmen Tenuta, vice president of public relations for Johnson Financial Group. “Because of that, all employee positions will be retained and offices will remain open and operational.”
The news was widely released via press release at 9 a.m. Wednesday and outlines that Risk Strategies is a nationwide insurance brokerage with 4,500 employees across the country. Johnson Insurance is a statewide agency with 140 employees and some $6 billion in assets.
Johnson Financial CEO reassures employees
In an email obtained by Racine County Eye sent companywide on Tuesday, April 25, Jim Popp, president and CEO of Johnson Financial, told employees the decision to sell Johnson Insurance was made after analyzing the data.
“The sale of JIS to a larger insurance agency with greater scope and scale than JIS would provide the best opportunity to elevate our customers’ experience, enhance associate satisfaction, and improve the outlook for long-term success of both the JIS and JFG businesses,” he wrote.
He also confirmed that employee jobs were safe.
“JIS will become Risk Strategies’ first acquisition of a Wisconsin-based agency and will serve as its primary insurance platform in the State of Wisconsin,” his message continues. “All current JIS associates will be offered a position with Risk Strategies.”
Popp reassured workers that the decision to sell is solely a strategic move to better serve customers and was not triggered by performance issues or a lack of confidence in the business.
“(The decision) was driven by a recognition that JIS could be more successful and sustainable as part of a growing, well-capitalized, insurance-first company,” the statement reads. “Most importantly, we believe that doing so will put you and your customers in the best position to be successful in the future.”
The sale is expected to close in the next 45 to 60 days.
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