Proctor Financial Inc., a provider of insurance products and services for financial institutions, says its parent company, Brown & Brown Inc., has completed the acquisition of Loan Protector Insurance Services.
Loan Protector will integrate with Proctor, operating as a single entity under the leadership of Mike Cox, CEO of Proctor, who will assume the role of CEO of the combined organization. Dennis Swit, owner and CEO of Loan Protector, will continue to lead the Ohio operation.
“By welcoming Loan Protector to the Proctor team, we will be well-positioned to provide the most optimal solution in the industry. We will blend our strengths to create an enhanced customer and borrower experience,” Cox says.
“After more than 40 years of respectful competition, Loan Protector is proud to join the Proctor Financial team,” Swit says. “This move strengthens our collective position in the market while providing superior solutions for our client partners.”
The combined organization will have multiple offices, with locations in Troy, Mich.; Daytona Beach, Fla.; and Solon, Ohio. These three combined service centers employ more than 1,000 people.
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