Business Moves

Acentria, Jim Harris

Destin, Florida-based insurance agency Acentria has acquired Jim Harris & Associates, Inc., with offices in Mary Esther and Crestview. The office in Mary Esther will remain open until August and the Crestview office will relocate to Acentria’s current location on South Ferdon Boulevard. Producers Jim Harris and Jennifer Harris-Barrett will relocate to the office in Destin. Shelly Mason, personal lines account manager, and Jean Busbee, commercial lines account manager, will move to the Crestview office.

Keystone, Linville

Linville Insurance Agency Inc. of Berea has become Keystone Insurers Group’s newest franchise partner in Kentucky. This brings the total number of Keystone’s franchises in the state to 22. The agency has locations in Berea and Richmond and serves 3,700 individuals and businesses.

Ryan Specialty, Lloyd’s Jubilee

Chicago-based insurance holding company Ryan Specialty Group, LLC (RSG) has agreed to acquire specialist Lloyd’s insurer Jubilee Group Holdings Limited.

Jubilee Group Holdings owns Jubilee Managing Agency Limited and the distribution businesses Lutine Assurance Services Ltd., Jubilee Service Solutions Limited and Amsterdam-based Jubilee Europe BV.

RSG does not intend to acquire the existing corporate members for the three Jubilee Syndicates 779, 5820 and 1231. The sale is subject to Lloyd’s and FSA approval.

Arthur J. Gallagher, ITI

Arthur J. Gallagher & Co. has acquired specialty insurance broker ITI Solutions Pte Ltd, located in Singapore. ITI’s specialties include marine cargo, political risk, trade credit risk, and specialty lines. In addition, it is licensed to place business in the regional Asian reinsurance markets. Terms of the transaction were not disclosed. ITI will trade internationally as Gallagher Singapore.

The company said Freddie Lim, Lilian Seet, and their associates will continue to operate in their current location.

Sirius, Lloyd’s

White Mountains Re Ltd. reports that its Sirius International Insurance Corp. affiliate has received approval from the Lloyd’s Franchise Board to establish Lloyd’s Syndicate 1945. Syndicate 1945 will be managed by Whittington Capital Management Limited, a Lloyd’s registered managing agency. The firms said that Sirius and Whittington are working with Lloyd’s to secure final approval to commence underwriting on or after July 1.

Regarding the name, 1945 was when Sirius was founded. The syndicate’s underwriting plan will comprise insurance and reinsurance in the accident and health and contingency lines transferred from the London branch office.

The active underwriter of Syndicate 1945 with principal authority to write business will be Mike Dashfield. Since 1998, Dashfield has run Sirius’ London branch office.

Sirius is a Sweden-based international reinsurer that focuses mainly on property and other short-tailed lines. Sirius’ home office is in Stockholm, and it has branch offices in Bermuda, Copenhagen, Hamburg, Liege, London, Singapore and Zurich.

Aon

Aon announced that it has selected The Leadenhall Building as its future London headquarters. The office tower is currently under construction, directly across Leadenhall Street from Lloyd’s. The building, Aon noted, has already been “dubbed the ‘Cheese Grater’ due to its unique design.” It is just around the corner from Swiss Re’s London headquarters, which has long been called “the gherkin” (pickle) due to its unusual shape. Now, if someone constructs a “Ham” building in the area, it could eventually become known as the “Deli Quarter” of the City of London. Aon will occupy the lower 10 floors, which will be known as “The Aon Centre,” from the beginning of 2015. It is in negotiations to complete formal leasing contracts with the owners, British Land and Oxford Properties.

Berkley Re UK

W. R. Berkley Corp. has formed Berkley Re UK Limited, based in London, focusing underwriting casualty and property treaty reinsurance. The operations of Berkley Re UK are expected to commence in the fourth quarter of 2011 and will complement those of Berkley Re America, Berkley Re Asia and Berkley Re Australia.

A.J. Gallagher, Heath Lambert

Arthur J. Gallagher & Co. has completed the purchase of HLG Holdings Ltd for a net purchase price of ($158 million.

The combined firms will become the fifth largest UK broker, after Aon, Marsh, Willis and Jardine Lloyd Thompson. Heath Lambert is headquartered in London and has 16 offices throughout the UK. A.J. Gallagher International has 20 offices in 11 different countries. The combined group will employ more than 1800 professionals.

Heath Lambert is one of the UK’s oldest independent brokers, dating back to its founding in 1877. It specializes in corporate and commercial insurances, fine art, real estate, major construction, affinity, public sector and employee benefits consulting. Adrian Colosso, who currently heads the company, will continue to oversee retail operations in the UK, reporting to David Ross, CEO of Arthur J. Gallagher International.

Topics A.J. Gallagher London Lloyd's Aon