German American Bancorp (GABC) announced and closed the sale of the assets of its wholly-owned subsidiary German American Insurance to Hilb Group. The company said the all-cash deal is for $40 million, and creates an after-tax gain, net of transaction costs, of approximately $27 million.
German American Insurance will continue to operate throughout southern Indiana and Kentucky under the name, German American Insurance - A Hilb Group Company, and will remain under the leadership of Diana Wilderman, President of German American Insurance.
For comments and feedback: editorial@rttnews.com