Bolton & Company, Pacific General
Pasadena, Calif.-based Bolton & Company has acquired Pacific General Insurance Services, an independent insurance agency providing insurance services in the San Gabriel Valley area.
As part of the transaction, Pacific General Insurance Services President Mike Martin will join Bolton & Company as senior vice president. Martin and his team will relocate to Bolton’s Pasadena office.
Bolton & Company is an employee-owned insurance broker agency providing clients with insurance and risk management services, employee benefits and financial products.
As a partner of Assurex Global, Bolton employs over 120 insurance professionals and places over $200 million in annual premiums.
UPA Insurance Brokers, Risk Strategies
Millbrae, Calif.-based UPA Insurance Brokers has been acquired by Risk Strategies Co., a national insurance brokerage and risk management firm headquartered in Boston.
Terms of the deal, which closed on Dec. 31, 2011, were not disclosed.
UPA is an independent insurance agency specializing in commercial real estate, home owners’ associations, financial services, non-profits, and hospitality industries in Northern California.
The transaction is RSC’s third in the past year and its second recent acquisition in the real estate and homeowners’ association sector.
The UPA staff will soon be co-located in RSC’s San Mateo office, bolstering RSC’s Bay Area operations.
As part of the transaction, UPA principals John Uhl and Chris Palmer will join RSC and to help grow RSC’s real estate, homeowners, non-profit and financial services practices. They will join the management team in RSC’s Bay Area office.
The rest of the UPA staff will become RSC employees.
Builders & Tradesmen’s, AmTrust
Rocklin, Calif.-based Builders & Tradesmen’s Insurance Services Inc. (BTIS) has been purchased by AmTrust Financial Services Inc.
BTIS is an insurance wholesaler and general agent specializing in the procurement and brokering of insurance policies and bonds for small contractors. The company writes business in 12 western states.
New York, N.Y.-based AmTrust is an insurance holding company, which, through its insurance carriers, offers specialty property and casualty insurance products, including workers’ compensation, commercial automobile and general liability.
AIA, Hub
The assets of Pullman, Wash.-based Associated Independent Agencies Inc. (AIA) have been acquired by Chicago, Ill.-based Hub International Ltd (Hub).
Terms of the deal were not disclosed.
The AIA operation will become part of Hub International Mountain States Limited (Hub Mountain), and Tom Lees, chairman, Mike Rydbom, president, and Les Ruhs, secretary, will join Hub Mountain.
Lees will serve as a member of Hub Mountain’s executive committee reporting to Tim Barnes, president of Hub Mountain.
AIA is an independent brokerage in eastern Washington and western Idaho with 14 additional locations throughout the region that offers personal, commercial and employee benefits products.
Hub provides property and casualty, life and health, employee benefits, investment and risk management products and services through offices in the United States, Canada and Brazil.
Abram Interstate
Abram Interstate Insurance Services has added a new carrier with the intent of providing competitive pricing and flexibility for hard-to-place accounts in California.
Some of the products the new market will cover include roofing, grocery stores, remodeling contractors, alarm installation and carpet cleaning.
The non-admitted carrier is rated A- by A.M. Best and will offer minimum premiums of $750. GL limits will be available up to $2 million per occurrence. Zero deducible and blanket additional insured coverage are both available. Waiver of subrogation and new ventures are also eligible.
The Rocklin, Calif.-based Abram Interstate also sells products in Arizona, Colorado, Idaho, Montana, Oregon, New Mexico, Nevada, Washington and Wyoming.
Abacus, Golden Bear
Golden Bear Insurance Co. will be the carrier for an online residential earthquake deductible buyback program from Abacus Insurance Brokers Inc.
The admitted program, distributed through the Los Angeles-based program manager, allows homeowners to reduce the deductibles on their existing earthquake policies to as low as 5 percent.
The product is available in California to owners of single-family residences, duplexes, triplexes or fourplexes.
Topics California
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