Flying J agrees to sell its insurance subsidiary

 Flying J. Inc., trying to raise cash to emerge from bankruptcy, has agreed to sell its insurance subsidiary for an undisclosed price.

The Buckner Co., a Salt Lake City-based insurance brokerage firm, will buy Flying J Insurance Services on Jan. 1.

"We have been looking at ways of building up our business, and they were entertaining the idea of selling their insurance business," Buckner spokeswoman Teresa Elias said Thursday.

Flying J Insurance gathers about $25 million of insurance premiums annually. Buckner collected $134 million in premiums last year.  read more