Old Point Financial and Morgan Marrow to establish insurance company
Old Point Financial Corp. and Morgan Marrow Co. have agreed to establish Old Point Insurance LLC, which will be a wholly-owned subsidiary of Old Point National Bank.
Both companies are headquartered in Hampton Roads. The agreement allows Old Point Insurance to expand its services, while Morgan Marrow will be able to expand its business throughout Old Point’s customer base.
Old Point Insurance will offer commercial insurance products, such as property, liability, group health/life and workers’ compensation. Its personal insurance products will include home, flood, automobile, life and health policies.
Under the agreement, Old Point will handle all marketing and referral efforts, while Morgan Marrow will manage sales of Old Point Insurance products.