IMAC, Specialty Service Solutions
Randolph, Mass.-based International Marketing and Administration Co. (IMAC) purchased Specialty Service Solutions LLC, an insurance brokerage headquartered in Chicago.
Specialty Service Solutions provides insurance products for schools, camps, pro sports, amateur sports, travel medical coverage in-bound and out-bound, as well as property/casualty programs such as errors and omissions, and roadside assist packages.
Current staff and management for Specialty Service Solutions will continue to work out of the Chicago office as an official subsidiary of IMAC.
IMAC creates direct response marketing programs for banks, insurance brokers and financial institutions and associations looking to reward customers, clients and members with discounted insurance products as a benefit.
AssuredPartners, Dawson Cos.
AssuredPartners, a portfolio company of the Chicago, Ill-based equity firm GTCR, has acquired the Dawson Cos.
Based in Cleveland, Ohio, and with offices in Florida and Virginia, Dawson markets property/casualty, employee benefits, and surety products.
The deal includes Dawson Insurance Inc., Dawson of Florida, Dawson Consulting Group LLC, Group Benefits Agency Inc., and Dawson Mid-Atlantic LLC.
Florida-based AssuredPartners invests in property/casualty and employee benefits brokerages across the country. With the addition of Dawson and its affiliates, it will have annual revenues in excess of $164 million.
AIG Benefit Solutions
Two American International Group units — Chartis U.S. Accident and Health, and American General Life Companies — are merging their group benefits businesses into a single, unified organization, AIG Benefit Solutions.
The consolidated unit will market insurance and benefits products for employees, employers and affinity groups. It will be composed of Chartis Corporate Benefits and American General Benefit Solutions.
AIG Benefit Solutions will be led by industry veteran Curtis Olson, who joined American General Benefit Solutions in June 2011 as CEO. Olson previously served as CEO of the ING life insurance unit in Korea. Prior to that assignment, he served for several years as president of the ING employee benefits unit in the U.S.
The new organization will be based in Neptune, N.J.
AIG Benefit Solutions’ products and services will be offered through two segments: U.S. employee benefits, which will offer group and individual employee benefits, including many voluntary/worksite products; and U.S. affinity benefits, which will offer products and services to affinity groups.