In an era when banks are buying up independent insurance agencies at a rapid rate, Senn Dunn has different plans for its future.

It has strengthened product lines, boosted revenues and recently taken a more extraordinary step - adding a cadre of young partners in a bid to groom the next generation of leadership at the 75-year-old firm.

"We're real big on making sure the philosophy and the culture never change,'' said Tim Ward, a senior partner and executive vice president at the Greensboro-based company.

An emphasis on close relationships with customers and an astute understanding of their needs have helped Senn Dunn, previously known as Senn Dunn Marsh & Roland, build a roster of about 7,000 clients, the majority of them in the Triad.

The firm brokers agreements between clients and a wide array of insurance carriers, offering everything from commercial insurance for businesses to liability insurance for professionals and lines of insurance for individuals. Senn Dunn also has expertise in human resources consulting and a financial services affiliate.

"They're a great outfit,'' said Tony Schiffman, chairman of Schiffman's, a Greensboro-based jeweler that is Senn Dunn's oldest client. "They give you service, which is what you need. They do what you ask.''

Senn Dunn's revenues are on track to hit more than $10 million this year - a new record for the firm. That makes it among the largest independent insurance agencies in the state, according to Independent Insurance Agents of North Carolina, a professional trade group.

Federal rules that once created barriers between banks and other institutions were largely dismantled in 1999 by the Gramm-Leach-Biliey Act. Many banks, including BB&T and Wachovia, have been aggressively buying insurance companies since then.

Would-be buyers have taken particular note of the success at Senn Dunn, which has about 70 employees and has been adding workers even during a severe economic downturn.

"We've had offers,'' Ward said. "We've had very handsome offers.''

Senn Dunn officials decline to name who the bidders have been and how much they have offered, though they say proposals have come from large insurance brokers and banks alike over the past 10 years.

So, to help quell concerns among employees about the firm's future, Senn Dunn's seven partners made five of their standout younger colleagues a handsome offer of their own - the chance to buy stock from senior partners in the firm.

The move increased the number of partners in the firm to 12. (The financial terms of the stock purchases were not disclosed.)

More importantly, the deal helped stabilize the firm's course by grooming successors who are committed to preserving the firm's independence and getting them involved in the firm's long-range planning.

"The word most important for us is inclusion,'' said Larry Roland, Senn Dunn's chairman. "It's so important that they understand what our plans are.''

The firm's newly-minted partners, in their early to mid-30s, say they buy whole-heartedly into the firm's passion for independence.

"The really smart folks don't want to work for corporate America,'' said Randal Taylor, a senior employee benefits consultant who is one of the new partners.

Working for a big corporation often means becoming little more than a replaceable part in a massive machine, Taylor said. At Senn Dunn, by contrast, employees have a better chance to control their own future and to leave a lasting imprint on the firm, he said.

"It's a unique opportunity for business owners to pass this down,'' said Kenneth Richardson, a new partner and senior commercial account executive at Senn Dunn. "You don't have that everywhere.''

That uniqueness makes Richardson want to stick around for a long time, suggesting that the strategy for locking up talent is working at Senn Dunn, which also included Melanie Shaffer, Joe Wheeless and Nicole Winkle in its new group of younger partners.

In the meantime, the firm has set up a succession plan intended to remind suitors and employees alike of its plans for long-term independence.

Roland stepped down as Senn Dunn's president earlier this year, allowing Gray McCaskill to move up to the top spot. In 2008, senior vice president Tim Templeton becomes president, solidifying the firm's top leadership for at least a decade.

"We all want to see this perpetuated,'' Roland said. "We want to see it handed to the next generation.''

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