SEFCU Insurance Agency, a wholly owned subsidiary of SEFCU with offices in Schenectady, Cobleskill, Cooperstown, and Schoharie, N.Y., will transfer its commercial property and casualty and benefits practices to Rose & Kiernan Inc., an insurance brokerage firm headquartered in East Greenbush, N.Y.
As its commercial insurance practice demands increasing financial and human resources, SEFCU has decided that the best way to serve its members and communities is to divest a non-core service while focusing on the development of its banking and investment competencies and expanding its personal insurance business, according to a company press release.
Rose & Kiernan Inc. will purchase the commercial and benefits practice of SEFCU Insurance Agency, maintain all existing staff and remaining dedicated to the clients and communities SEFCU Insurance Agency has served for many years.
As the transition of commercial clients is completed, SEFCU Insurance Agency will remain dedicated to providing and enhancing its delivery of personal insurance products and services.
The transfer of clients and employees is expected to be completed by November 1.
Source: SEFCU Insurance Agency