The chief executive of Sky Insurance, a bank-owned insurance agency, said its acquisition of an outlet in Pittsburgh is part of a plan to grow the company to $90 million in revenue by 2007.
Sky said yesterday it had purchased Peter B. Burke Agency Inc., a full-service insurance agency specializing in property-casualty insurance and surety services since its founding by Peter Burke in 1995. Terms were not disclosed.
Jerry Batt, chief executive officer of Sky Insurance, a subsidiary of Sky Financial Group Inc., the holding company of Bowling Green, Ohio-based Sky Bank, told National Underwriter that the acquisition is small for Sky Insurance but contains “some nice young talent,” and the agency has enjoyed “friendly competition” with Sky over the years.
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