Fiserv to Acquire Yet Another Insurance Agency

BROOKFIELD, Wis.-Fiserv, Inc. and Insurance Management Solutions Group, Inc. announced the signing of a definitive agreement whereby Fiserv will acquire Insurance the company. The total purchase price is approximately $40 million. “With the addition of IMSG’s client base to the existing Fiserv flood insurance business process outsourcing organization, we expect to continue to expand our portfolio of specialized information technology services,” said Leslie M. Muma, President and CEO of Fiserv, Inc. “We are able to help our clients remain competitive in a dynamic financial services industry by growing our portfolio of insurance products and services. With the client base, people and resources gained through IMSG, we expect to continue to enhance our ability to serve the flood insurance market.” Fiserv has been picking up insurance agencies of late. (See related item on page 38.) IMSG provides a complete range of policy and claims administration services as well as financial and statistical reporting, with a focus on serving the flood insurance market. Supported by nearly 200 employees, IMSG manages and processes nearly 800,000 policies and more than 20,000 claims annually. Founded in late 1996, the company is based in St. Petersburg, Florida. “We expect the IMSG client base to bring an added volume to the flood business process outsourcing division of our Insurance Solutions Group,” said Norman J. Balthasar, Senior Executive Vice President and Chief Operating Officer of Fiserv, Inc.