BISYS today announced its acquisition of Harrison James Group, LLC, a national insurance brokerage firm specializing in the wholesale distribution of traditional and variable life insurance, and annuities. This acquisition supports BISYS’ strategy to expand its presence and potential in strategic geographical areas by materially enhancing its presence in Houston, Texas; Chicago, Ill.; St. Louis, Mo.; Birmingham, Ala.; and other markets. The acquisition of Harrison James Group also expands the national network of independent agents, financial planners, stockbrokers, and broker-dealers that BISYS supports with its extensive portfolio of competitive insurance products and sophisticated support services. Terms of the transaction were not disclosed.
According to Dennis Sheehan, BISYS’ president and chief operating officer, “Harrison James Group has a proven history of supporting financial services companies and individual producers. The acquisition and integration of this dynamic firm enhances BISYS’ presence and potential in key regional and metropolitan areas throughout the Southwest, and strengthens our position as the nation’s leading insurance distributor.”
Clint Janecek, chief executive officer of Harrison James Group, reported, “Joining BISYS will significantly benefit Harrison James’ diverse producer base with access to BISYS’ unrivaled portfolio of insurance products and its premier, technology-based support services.”
This acquisition marks BISYS’ 13th insurance-related acquisition since 1996, and continues the strategic expansion of its fastest growing business line. The Insurance and Education Services group now generates the highest internal growth rate and margins among BISYS’ three functional groups.