James Allen Insurance Brokers has become one of 14 founding partners at the Indianapolis Colts' Lucas Oil Stadium.

Financial terms of the three-year deal, signed last week, were not disclosed, but the insurance agency will replace Chevrolet as one of the team’s 14 founding partners at the 63,000-seat stadium after the car manufacturer pulled out following General Motors' demise.

The Colts' founding partner scheme, launched by the NFL side last year, raises around US$18 million annually for the team. The new deal is therefore likely to be worth some US$3.9 million over the three-year term.

Gone from the southwest corner of Lucas Oil Stadium’s street level is the Colts-themed Chevy truck. It will be replaced by an area themed for Allen Insurance.

“We always wanted a major presence in a venue in downtown Indianapolis,” said James Allen Insurance chief executive Tim Craig. “This gives us another branding opportunity, and puts our name out there further to the insurance agencies and business owners that use our company. We also do underwrite policies directly to the public, so the exposure to fans is great too.”

James Allen Insurance has over 165 years of underwriting experience and specialises in agricultural and commercial insurance.