RSC Insurance Brokerage, Inc. acquired First Insurance and Investments, Inc. from Premier Financial Corp. (NasdaqGS:PFC) on June 30, 2023. The agency will continue to operate as First Insurance Group, a division of Risk Strategies. Utilization of sale proceeds is expected to improve net interest income that effectively offsets pre-tax earnings previously generated from FIG.

RSC Insurance Brokerage, Inc. completed the acquisition of First Insurance and Investments, Inc. from Premier Financial Corp. (NasdaqGS:PFC) for $47.4 million on June 30, 2023. Consideration included a combination of cash and a subordinated note resulting in net cash received of $47.4 million after certain transaction costs at closing, the assumption of certain leases, and contingent consideration subject to certain performance criteria by the Buyer to be determined after the year ended December 31, 2026. Phil Trem and Gerard Vecchio of MarshBerry served as the financial advisor to First Insurance Group.