Daily News: April 29, 2015

BofA Merrill, JPMorgan Lead Digital Insurance Facility

Digital Insurance, the nation’s largest employee benefits-only advisor, successfully secured a $120 million credit facility.

A syndicate of five financial institutions, led by Bank of America Merrill Lynch and JPMorgan Chase Bank, and joined by PNC Bank, Regions Bank and Newbridge Bank, provided financing for the next phase of the company’s strategy of consolidation in key markets around the country.

“We have a clear understanding of what it takes to attract agency partners who will thrive as part of Digital,” says Adam Bruckman, president and CEO, Digital Insurance. “Our lending group clearly understands the pipeline of acquisitions we have in place and our ability to execute on these transactions.”

Digital Insurance is an employee benefits-only company.