Business Moves

USI, Johnson & Bryan

USI Insurance Services has completed its transaction to purchase Johnson & Bryan, a retail property/casualty and employee benefits insurance brokerage firm based in Atlanta. Terms of the transaction were not disclosed.

USI is a local and national insurance brokerage and consulting firm headquartered in Valhalla, N.Y. The move will establish USI’s presence in Atlanta, and continue the company’s investment and growth in Georgia alongside its team in Savannah.

The current Johnson & Bryan team, including President Robert C. Wynne, will join USI.

Hub, Riviera Insurance Services

Hub International Ltd. has acquired the assets of Santa Barbara, Calif.-based Riviera Insurance Services LLC.

Chris Hill, president of Riviera, and Steve Woodward, the firm’s executive vice president, will join Hub California and report to Darren Caesar, senior executive vice president of Hub California.

Riviera specializes in property/casualty insurance solutions and employee benefits.

Chicago-based Hub provides property/casualty, life and health, employee benefits, investment and risk management products and services.

Arthur J. Gallagher, Altman & Cronin

Arthur J. Gallagher & Co. has acquired Altman & Cronin Benefit Consultants LLC in San Francisco.

Terms of the deal were not disclosed.

Ian Altman and his colleagues will continue to operate from their San Francisco location under the direction of Norbert Chung, head of Gallagher’s Western employee benefits consulting and brokerage operations.

Altman & Cronin is an actuarial employee benefits consultancy that offers retirement and administration services to middle and large institutional clients throughout the U.S.

Itasca, Ill.-based Arthur J. Gallagher is an insurance brokerage and risk management services firm.

AmTrust Financial Services Inc., AmeriHealth Casualty Insurance Company

AmTrust Financial Services Inc. has entered into an agreement to acquire AmeriHealth Casualty Insurance Company from Independence Health Group Inc. for approximately $90 million in cash.

AmTrust Financial Services Inc. is a multinational insurance holding company headquartered in New York City.

AmeriHealth Casualty provides fully insured workers’ compensation insurance primarily in Pennsylvania and New Jersey.

The transaction will be funded with existing working capital. Pending regulatory approval, the transaction is expected to close during the fourth quarter of 2016.

Independence Health Group will retain CompServices Inc., its third-party administrator (TPA) for workers’ compensation business, following the acquisition. CompServices will provide TPA services to its self-insured customers, as well as to AmTrust, in accordance with the terms of the transaction.

Aon Risk Solutions, Stroz Friedberg Inc.

Aon Risk Solutions has completed its acquisition of Stroz Friedberg Inc. Financial terms were not disclosed.

Aon Risk Solutions is the global risk management business of Aon plc. Stroz Friedberg Inc. is a global risk management firm based in New York.

The combination of Aon and Stroz Friedberg will extend Aon’s cyber risk brokerage business and create a comprehensive Cyber Risk Management Advisory Group that offers standards-based cyber assessments and risk transfer solutions for clients.

Stroz Friedberg’s more than 550 colleagues are joining Aon’s newly created Cyber Solutions Group following the acquisition. Michael Patsalos-Fox, Stroz Friedberg’s CEO, will become the CEO and co-chair of Aon’s Cyber Solutions Group. John Bruno, Aon’s executive vice president of enterprise innovation and chief information officer, will join Patsalos-Fox as co-chair of the new group.

PIA Management Services Inc., PIAVT

PIA Management Services Inc., the umbrella corporation that manages the Glenmont, N.Y.-based Professional Insurance Agents (PIA) associations, has reached an agreement with PIA National to assume management of the PIA state affiliate in Vermont.

Formerly, PIA members were part of a merged association, which included PIA and Independent Insurance Agents & Brokers (IIAB) members to comprise the Vermont Insurance Agents Association.

Membership in PIAVT will be available to independent agents and insurance-related businesses affiliated with independent agents starting in November. Initial benefits will include: agents E&O and other coverages; education; information; creative services; networking opportunities and advocacy.

Topics A.J. Gallagher Aon