German American Bancorp (GABC) has announced and finalized the sale of assets belonging to its wholly-owned subsidiary, German American Insurance, to the Hilb Group. The transaction, which is an all-cash deal valued at $40 million, results in an approximate post-tax gain of $27 million, after accounting for transaction costs.
German American Insurance will continue its operations in southern Indiana and Kentucky, rebranded as German American Insurance - A Hilb Group Company. Leadership will remain unchanged with Diana Wilderman serving as President of German American Insurance.
