First Mid Insurance Group acquires Downs Insurance Agency

First Mid Insurance Group has finalized its acquisition of Downs Insurance Agency, a small commercial and personal lines insurance provider based in Decatur, Illinois. The transaction, which closed on January 12, 2026, aligns with First Mid’s strategic expansion across central Illinois, including strengthening its foothold in the Decatur market.

Details of the acquisition remain undisclosed. However, it is confirmed that all employees of Downs Insurance will transition to join First Mid Insurance Group’s team. This move extends First Mid's capabilities in small commercial insurance and provides an opportunity to leverage Downs Insurance's client-focused approach and expertise in the sector.

Clay Dean, CEO of First Mid Insurance Group, emphasized the strategic alignment of this acquisition, highlighting how bringing in Brian Phipps and his team enhances First Mid’s depth in the small commercial segment. Dean commented on the shared commitment to delivering high-quality insurance solutions, underlining the complementary expertise that Downs Insurance offers to the broader First Mid framework.

The acquisition comes as part of First Mid’s broader growth trajectory within the insurance sector, aiming to fortify its service reach in Illinois. As competition intensifies, this acquisition positions First Mid to more effectively compete with other regional players, optimizing its service offerings in small commercial and personal insurance lines. This strategic move underlines the ongoing consolidation trend in the insurance market, as firms scale operations to better manage margins and service capabilities.

The next phase for First Mid will involve integrating Downs Insurance’s operations and workforce, while ensuring continuity in client services. With the integration of the Downs team, First Mid looks to solidify its market position and capitalize on growth opportunities within the region.