Two annuity brokerage businesses, Indianapolis-based InSource Inc. and Fort Wayne-based Ash Brokerage Corp., announced Wednesday the completion of a merger between the two firms, creating Ash InSource LLC.
The combination of the two businesses creates a firm with annual fixed and equity-indexed annuity sales of more than $1 billion, company officials said. The company will be based at Keystone at the Crossing in Indianapolis but will retain its Fort Wayne office.
InSource has 26 employees while Ash has 19.
Founded in 1971, Ash has 19 offices throughout the United States.
InSource is a family-owned firm that was founded in 1987. It represents more than a dozen national life insurance companies under independent contract agreements.
“Ash and InSource's new partnership will offer substantial opportunities for expansion and growth,” said Deck McCormick, CEO of Ash InSource.