Skyla Insurance Services Strengthens Portfolio with Policyline Insurance Acquisition

Skyla Insurance Services Expands Through Policyline Insurance Acquisition

In a strategic move that signals growth and innovation, Skyla Insurance Services, LLC, a proud subsidiary of Skyla Credit Union, announced its acquisition of Policyline Insurance. Known for its ability to deliver cost-efficient insurance products and robust employee benefits consulting services, Policyline stands as a frontrunner in the industry. This acquisition not only broadens Skyla's product portfolio but also reaffirms its commitment to providing comprehensive services for its corporate clients and members.

The announcement made on February 4, 2025, highlights a significant addition to Skyla’s offerings. By integrating Policyline Insurance, Skyla aims to enhance the quality of insurance solutions available to its vast network of clients. Geoff Ricks, previously the owner of Policyline Insurance, transitions to the role of President of Skyla Insurance Services immediately. This change ensures that the experienced team from Policyline will join forces with Skyla, maintaining a smooth continuity of service while expanding the range of products available.

Mr. Ricks expressed his enthusiasm about the new direction, stating, "I am excited to join Skyla Insurance Services and contribute to the continued growth and success of our organization." He emphasizes that the merger will enable his team to offer heightened value to clients, through a widened array of services and solutions tailored to meet unique organizational needs.

Ray Crouse, President of Skyla Financial Solutions, echoed this sentiment, mentioning, "We are thrilled to welcome Policyline to the Skyla Insurance Services family. This acquisition represents a landmark step in enriching our members' experience and expanding the services offered to our corporate partners. By harnessing Policyline's expertise and resources, we can now deliver comprehensive insurance solutions that cater to the diverse needs of our clients, ensuring a higher level of value for the members of Skyla Credit Union."

This acquisition, effective from January 2, 2025, was fortified with the essential support from Capstone Strategic, Inc., which played a crucial role in navigating the complexities around the merger. Capstone’s expertise in credit union service organization mergers and acquisitions was instrumental, as Crouse stated, "Their knowledge of our strategic goals allowed for a smooth transaction, and we are very pleased with the positive outcome."

Policyline Insurance, operating out of Cornelius, North Carolina, has been a key player for over 22 years, providing extensive strategies designed to balance crucial employee benefits with budgetary constraints. Their service offerings include health insurance, dental and vision plans, Medicare Advantage, and prescription drug plans that cater to both businesses and individuals throughout the Charlotte area. The Policyline brand will persist in the marketplace, ensuring that their group benefit services are easily recognizable to existing and new clients.

Skyla Insurance Services, meanwhile, is dedicated to delivering a broad range of insurance solutions, capitalizing on its deep understanding of both financial and insurance landscapes to protect clients' assets and financial health.

Skyla Federal Credit Union, the parent organization, is grounded in the Carolinas and serves over 103,000 members, managing assets exceeding $1.4 billion. Committed to enhancing its members’ financial lives through innovative services, Skyla continues to be a reliable partner for individuals and enterprises alike.

For those interested in learning more about the services offered or how this acquisition may benefit them, further information can be found by visiting both Policyline and Skyla Credit Union online.

This acquisition positions Skyla Insurance Services to better serve the needs of its clients while bolstering its presence in the insurance realm, demonstrating a clear vision for future growth and enhanced customer satisfaction.