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Skyla Insurance Services completes acquisition of Policyline Insurance to expand insurance product portfolio

Feb 04, 2025•11 months ago

Acquiring Company

Skyla Insurance Services

Acquired Company

Policyline Insurance

CharlotteNorth CarolinaInsuranceFinancial ServicesHealth CareEmployee Benefits

Description

Skyla Insurance Services, LLC, a subsidiary of Skyla Credit Union, has announced the acquisition of Policyline Insurance. This strategic acquisition enhances Skyla Insurance Services' product portfolio and deepens its commitment to delivering comprehensive insurance solutions to Skyla Credit Union's corporate accounts and sponsor companies. Geoff Ricks, owner of Policyline Insurance, has been appointed President of Skyla Insurance Services, and as part of this acquisition, Policyline's experienced team will join Skyla Insurance Services.

Company Information

Company

Skyla Insurance Services

Location

Charlotte, North Carolina, United States

About

Skyla Insurance Services, LLC, a subsidiary of Skyla Credit Union, provides a full suite of insurance offerings to individuals and corporate clients. It leverages its deep understanding of the financial and insurance markets to deliver tailored solutions that help protect the assets and financial well-being of its clients.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed