Business Moves

Business Moves

Integro, Daugherty Insurance Services, Lugo & Associates Insurance brokerage and risk management firm Integro has acquired Stockton, Calif.-based Daugherty Insurance Services, a retail broker. Details of the deal were not disclosed. Scott Daugherty will remain in his leadership role at …

Business Moves

Arthur J. Gallagher, The Plus Cos., Tri-State General Arthur J. Gallagher & Co. has acquired The Plus Cos. Inc. (TPC) in Bridgewater, N.J. Terms were not disclosed. Established in 1985, TPC is a managing general agent and program manager that …

Business Moves

Marsh & McLennan Agency, Senn Dunn Marsh & McLennan Agency LLC has acquired Senn Dunn Insurance in North Carolina. Terms of the transaction were not disclosed. Founded in 1927, Senn Dunn has annual revenue of approximately $30 million and 155 …

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Brown & Brown, Wright Insurance Brown & Brown Inc. has completed its acquisition of specialty and flood insurance company The Wright Insurance Group LLC. In January, Florida-based national insurance broker Brown & Brown said it would acquire TWIG for $602.5 …

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Eastern Insurance, Smith Buckley & Hunt Eastern Insurance Group has acquired Smith Buckley & Hunt, an insurance agency based in Brockton, Mass. Smith Buckley & Hunt was founded in 1875, and the Smith Family has owned the agency since 1922. …

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AssuredPartners, CBS Coverage Group Lake Mary, Fla.-based AssuredPartners Inc., through its subsidiary Assured SKCG Inc., has acquired CBS Coverage Group Inc. in Plainview, N.Y. CBS Coverage Group specializes in commercial insurance, employee benefits and financial planning services, and personal insurance. …

UK Insurer Saga Could Announce $5 Billion IPO Next Week

British over-50s insurer Saga is planning to announce its intention to float next week in a London stock market debut that could value the company at £3 billion ($5.1 billion), two sources familiar with the matter said on Wednesday. The …

Echo Re to Write Treaty Reinsurance in Latin America with Madroñero’s EGRM

Zurich-based Echo Reinsurance Ltd., wholly owned subsidiary of German mutual insurance group DEVK, announced that it will target writing treaty reinsurance from Latin America in order to further enhance and diversify its portfolio. Echo Re also noted that it has …

Sanlam Unit Buys Controlling Stake in MCIS Zurich of Malaysia

Sanlam Emerging Markets, a unit of South African insurance company Sanlam Ltd., said it’s buying 51 percent of Malaysia’s MCIS Zurich Insurance Berhad for about 1.25 billion rand ($118.4 million). Sanlam will first buy a 40 percent stake in MCIS …

Genworth Financial to Raise as Much as $700 Million in Australia Offer

Genworth Financial Inc. plans to raise as much as $700 million by selling a minority stake in its Australian mortgage guarantor, in what may be the biggest share sale in the country for more than three years. The seller of …

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