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J. Smith Lanier & Co. and Wachovia Insurance Services of Lexington, Kentucky Sign Joint Venture Agreement |
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West Point, Ga.—J. Smith Lanier & Co. and Wachovia Insurance Services Inc. announced effective July 1, 2007, a joint venture agreement to market their services in the Lexington area. Wachovia Insurance Services Inc. of Lexington, Kentucky will again become a private organization and will return to the name of Powell-Walton-Milward, a division of J. Smith Lanier & Co. Powell-Walton-Milward (PWM) is a fourth generation family business and has served the Lexington area since 1852 as the successor of the King Agency in Lexington. Powell-Walton-Milward has grown to employ over 50 employees and offers an array of commercial and personal product lines and employee benefits for its clients. “We are excited to have the excellent team at Powell-Walton-Milward join J. Smith Lanier & Co. We share a similar legacy of rich history and combining the two firms will be an outstanding partnership for the Lexington area,” said J. Smith Lanier & Co. Chairman and CEO, D. Gaines Lanier. “We are pleased to be joining a privately held insurance brokerage firm again. This joint venture agreement will be a strong and healthy partnership for our clients and employees. We also expect this change to set a solid foundation for growth in our marketing area," said Powell-Walton-Milward Managing Director, John Milward. The joint venture will offer clients a comprehensive menu of commercial and personal lines insurance, employee benefits, third party plan administration, surety and risk management consulting services. The joint venture will be finalized July 1, 2007. The offices of Powell-Walton -Milward remain located at 360 East Vine Street in Lexington. |
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