Carpenter Moore, USI Southwest
Houston-based USI Southwest and Car-penter Moore, a subsidiary of The Nasdaq Stock Market Inc., are partnering to provide executive liability services to public companies in Texas, Louisiana and New Mexico. They will provide an array of professional services to publicly traded companies in the areas of executive liability; directors and officers liability; errors and omissions insurance; employment practices insurance and related management liability coverage, such as mergers and acquisitions; and loss mitigation coverage.
HUB International, Hibernia
Chicago-based HUB International Limited plans to acquire Louisiana-based insurance brokerage, Hibernia Insurance Agency L.L.C. Hibernia Insurance, an $18 million revenue brokerage firm, will become a new regional platform doing business as Hub International Gulf South (HUB Gulf South). Based in Metairie, La., Hibernia Insurance employs 85 people at offices in Metairie, Lafayette and Baton Rouge. It serves clients throughout the Southeast and beyond the state of Louisiana including Alabama, Mississippi, Arkansas and Texas. Steve Terry, president of Hibernia Insurance, will become president of HUB Gulf South.
Founded in 1965 as the Rosenthal Agency Inc., the brokerage was purchased in 2000 by Hibernia Agency L.L.C., now a subsidiary of Capital One Financial Corporation. The acquisition is expected to close during the first quarter of 2007. HUB intends to offer employment to all active employees in good standing on the closing date.
Prime Holdings
Prime Holdings Insurance Services Inc. announced its subsidiary Prime Insurance Company received approval to write surplus lines business in Louisiana and Texas. Prime, organized and funded with a cash infusion of $16 million in May 2006, recently acquired The Prime Insurance Syndicate Inc. as a subsidiary bringing its total capital and surplus to over $34 million. Together Prime and The Prime Insurance Syndicate received an A. M. Best pooled rating of “B+.”
With offices in Chicago and Salt Lake City, Prime provides excess and surplus lines property and casualty insurance options for general liability, multi-peril, commercial auto, garage services, health care services, professional liability insurance, and more.
Brown & Brown, Marcello, American Insurance and Beyer-Beeson
Brown and Brown acquired the assets of Marcello Agency Inc., American Insurance Service Inc. and Beyer-Beeson Insurance Agency Inc., of Lockport, La. The three companies with combined annualized revenues of approximately $2 million, are commercial property/casualty insurance intermediaries that serve the energy and marine services industries in Southern Louisiana and the Gulf Coast.
Western Maritime, Maritime Central
Stockton, Calif.-based Western Maritime Insurance Services is expanding into 13 states for 2007 through the newly formed entity, Maritime Central. Those states will include Arkansas, Illinois, Indiana, Iowa, Kentucky, Ohio, Oklahoma, Michigan, Minnesota, Missouri, Tennessee, Texas and Wisconsin. The expansion is part of Western Maritime’s commitment to offer broad specialized coverages to the growing marine industry, the company said.
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