PayneWest Insurance, Inc. announced today they finalized the acquisition of Stieg & Associates Insurance and their operating companies in Billings, Great Falls and Missoula, Montana, as well as Yakima, Washington.
Stieg & Associates Insurance is an independent agency focused on the transportation industry. Stieg was started by Walt Stieg in 1981 in Baker, Montana. Since its inception, Stieg & Associates has built its business by providing insurance-based solutions with the transportation industry. In 1995 Stieg & Associates formed Continental Owner Operators, Ltd. (COOL) and Continental Owner Operator Insurance Services (COOIS) to further develop a specialty insurance program for independently-leased owner operators.
“We’ve admired our friends at Stieg for many years, in hopes that one day we could partner together. Today it’s actually happening,” says PayneWest CEO, Kyle Lingscheit. “Stieg’s colleagues are extremely respected for their high level of service and knowledge in the transportation industry. We’re absolutely thrilled to bring this experience and specialty divisions to PayneWest, but even more excited to work with such like-minded colleagues on a daily basis.” PayneWest Insurance in committed to growing organically and through acquisitions when it strengthens product expertise and specialization. The acquisition of Stieg & Associates Insurance enhances PayneWest Insurance’s fierce commitment to being the premier provider of unique solutions and service.
“Our company has always had a focus on bringing quality people, resources and insurance solutions to
the transportation industry,” said Ryan Stieg, CEO of Stieg & Associates Insurance. “In looking to
maintain that focus, and to bring more insurance options to our clients, we knew that PayneWest
shared the same values and dedication to a high-level service to our clients and communities. The fit
seemed natural and we look forward to being stronger together,” Stieg said.
PayneWest Insurance will continue to operate the new division using the Stieg name: Stieg Insurance, a
division of PayneWest.