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First Financial sells insurance segment

Knight Willis of Toledo looking to expand business with acquisitions. 

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By Jessica Heffner, Staff Writer Updated 11:04 PM Thursday, April 23, 2009

HAMILTON — First Financial Insurance Inc. of Hamilton has been acquired by Mark Willis of Knight Willis LLC.

Toledo-based Knight Willis has acquired the property and casualty, and business liability division of First Financial Insurance, a wholly owned unit of First Financial Bancorp’s First Financial Bank. The sale was effective March 31, according to a filing with the U.S. Securities and Exchange Commission.

First Financial Insurance has retained the life, health, long-term care, and disability insurance segment of the business and will operate it as a component of First Financial’s Wealth Resource Group, according to the SEC filing.

The Hamilton office has been renamed Knight Willis Murphy Insurance Services to reflect the key producers at the agency, according to a news release.

Knight Willis will also operate the First Financial Insurance offices in Connersville and Highland, Ind. First Financial’s office in Celina was also acquired and will be moved to St. Mary’s, said Mark Willis, president of Knight Willis.

About 20 people work in the four First Financial Insurance offices, with the majority continuing with the new company, Willis said.

The acquisition was part of Willis’ growth strategy. The company hopes to become an integral part of the Hamilton community and possibly pursue other acquisition opportunities in the future, Willis said.

“We are dedicated to being a part of the communities in which our clients reside by supporting local events and expanding our involvement,” he said.

Andy Murphy, the Hamilton office’s key producer or business, will remain at the new agency.

“I am looking forward to bringing additional products and services to my clients. The Knight Willis Murphy name tells clients that Mark and I are an integral part of this agency,” he said.

The agency will invest more than $175,000 in new automation to create state-of-the-art operations and provide the staff with the latest technology already employed at the company’s existing office in Toledo, Willis said

Willis began the agency at the bank in 1997. With the acquisition, the agency now has five offices and employs about 41 people.

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