Diener and Borntrager Insurance was started in 1974 by Gene Diener and Jonas Borntrager in Harrisonburg, Virginia; Layman Insurance Agency was founded in 1952. The two firms merged in 1992 and formed Layman, Diener, and Borntrager Insurance Agency, Inc. In 2011, the agency re-branded and began conducting business as LD&B Insurance and Financial Services.
Gene and Jonas believed in the value of service and giving back to the community long before they went into business, and they incorporated these values into their work and the mission of LD&B: To provide insurance and financial services with the ultimate goal of giving back to the communities we serve.
Since the 1992 merger, LD&B has grown to almost 100 employees, expanded to seven locations, and increased its services through natural growth and acquisition. In 2011, the Financial Services division was introduced; and in 2013, the Flexible Benefits division was re-branded to LD&B Benefits Administrators. One year later, the Employers Health Risk Consortium (EHRC) was launched with 14 clients; since then it has grown to 70+ clients, serving 6,000 total members!
The Employee Stock Ownership Plan, or ESOP, was formed in 2004 as a way to for Gene and Jonas to transition ownership to the employees. The vision behind the ESOP was for LD&B to remain locally owned and to ultimately carry on the mission of giving back to the communities we serve. As of February 2019, 100% of the stock of the company is owned by the employees. Gene and Jonas have also transitioned all company leadership to the employees.
The goal of the ESOP is to provide employees a retirement plan in company stock; but more importantly, it provides a way to give back to employees, creates a strong foundation for growth, and protects the firm’s legacy and culture for the future. The transition to 100% employee ownership further serves LD&B’s commitment to remaining independent and local, with the same values it started with in 1974.