Sky Financial enters the insurance business

Sky Financial enters the insurance business
Tags: Bank / Credit Union, EFT Networks
January 29, 2002

BOWLING GREEN, Ohio - Sky Financial Group Inc. (NASDAQ:SKYF), which operates a network of 210 financial centers and more than 200 ATMs in the Midwest, on Jan. 30 announced that it would acquire Ohio insurance agency Celaris Group Inc.

Terms of the deal were not disclosed. No date was given for when the deal was expected to close.

Formed in 2000, Celaris offers commercial and personal insurance services and financial services. The company has nine offices in Ohio. Sky officials said the deal was part of the company's diversity strategy.

"Celaris will bring additional expertise to our existing agency portfolio with strong full-service insurance programs," Marty Adams, Sky chairman and chief financial officer, said in a news release.