Business Moves

Arthur J. Gallagher, Alternative Market Specialists

Itasca, Ill.-based brokerage Arthur J. Gallagher & Co. announced the acquisition of Alternative Market Specialists, headquartered in Edina, Minn. Founded in 1997, Alternative Market Specialists is a managing general agent and wholesale insurance broker providing insurance products for independent agents and brokers throughout the United States. They specialize in the production, underwriting and placement of public entity accounts that desire a protected self-insured program.

Birmingham, Mich.-based real estate insurance brokerage Kelter-Alliant Insurance Services announced today the relocation of its offices to 101 Southfield Rd., Birmingham, Mich., 48009. The new headquarters building for Kelter-Alliant is a landmark property, located at the gateway to the city. The phone number remains the same, (248) 540-3131.

Old National Bancorp, JWF Insurance

Evansville, Ind.-based Old National Bancorp announced recently that it has entered into definitive agreements to acquire JWF Insurance Cos. Inc., which does business as the JW Flynn Co. and JWF Specialty Co. Inc., a related alternative risk services company. The transaction is intended to close early in the second quarter.

Headquartered in Indianapolis, the JWF Insurance Cos. are one of the largest risk management, insurance brokerage and third-party administrators in the Central Indiana marketplace. Terms of the transaction were not disclosed. With this new addition, the ONB Insurance Group, a wholly-owned subsidiary of Old National Bancorp, expects to boast annual revenues of $43 million and will employ nearly 325 associates.

OneBeacon, First Media Insurance Specialists

OneBeacon Professional Partners, a part of OneBeacon Insurance Group’s specialty segment, has acquired First Media Insurance Specialists Inc. First Media is based in Fairway, Kan., and provides media liability insurance solutions and services for small-to-midsize media companies on a primary and excess basis.

Specialty Underwriters’ Alliance, Specialty Risk Solutions

Chicago-based wholesaler Specialty Underwriters’ Alliance Inc. announced a new partner agent contract with Specialty Risk Solutions, which is also based in the Windy City and specializes in the public entity segment including schools, other educational institutions and municipalities. SRS provides primarily workers’ compensation and liability insurance to its public entity clients. According to a statement released by SUA, the company will focus on California initially and plans to expand into additional regions later this year.

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