AgQuest Expands Insurance Business with Acquisition of Great River Insurance

AgQuest Financial Services is excited to announce they are expanding their portfolio with the purchase of Great River Insurance located in Mankato, Minnesota. Great River is primarily focused  on business insurance and offers AgQuest a greater diversification in products and insurance carriers as it pertains to property and casualty insurance, giving them an even stronger position when competing on new accounts.

We are so encouraged by the prospects this acquisition has to offer,” said Miki Schultz, AgQuest President.  “Not only does Great River give AgQuest a more well-rounded portfolio, but also offers tremendous growth opportunities with an untapped area.”

 

Great River Insurance was started in 2007 by Tom and Karen Rekstein.  It began as a business insurance and trucking insurance agency, but also provided home, auto and health insurance.  In 2016 the trucking insurance division was sold and they were able to focus on what they do best, business insurance.

Great River began their relationship with AgQuest in 2014 when MN River (AgQuest Insurance) agent Tim Lewis began referring Great River to his business clients.  The relationship proved to benefit both companies and in 2017 AgQuest approached Tom and Karen in selling their business. 

“We had received prior offers to sell, but they were only interested in numbers,” Tom Rekstein said of the sale.  “We enjoyed working with Tim and when we met Lynn Button and Miki Schultz, we realized they cared about people as much as numbers, so we quickly decided that AgQuest was the place for us.”   

In the sale of Great River, Tom Rekstein, who has 38 years of insurance experience and is a Certified Insurance Counselor (CIC), will remain with the business as an agent, while Karen Rekstein has decided to move on to her “true love”, selling real estate.

Missy Caron, customer support person and Certified Insurance Service Representative (CISR), will also remain with the business.  She has over 13 years of experience and is a valuable asset in making a smooth transition for customers and insurance carriers. 

The business will continue to operate under the name Great River Insurance.

With Karen’s departure, we would like to introduce the newest member of Great River Insurance, Shannon Sinning.  Shannon and his family live in Mankato, where he was most recently an Independent Financial Advisor with Gardner Financial Services. 

Shannon has a bachelor’s degree in Accounting from Gustavus Adolphus College in St. Peter, Minnesota and is originally from Mapleton, Minnesota.  He and his wife Amy have three children: Chloe, 13; Parker, 10; and Mason 8 months.

Shannon met Tom and Karen through his work with the Mankato Kiwanis organization, where he has been an active member and volunteer for several years.

“Knowing Tom through Kiwanis, I am very excited about the opportunity to join Great River and learn from his experience,” said Shannon.

Shannon joined AgQuest as a commercial agent with Great River Insurance on May 1, 2018.

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