The H.W. Kaufman Financial Group, parent company of wholesale broker and underwriting manager Burns & Wilcox, has purchased Chesterfield Group Ltd., a London-based insurance broker and underwriting organization with companies in the UK, U.S. and Canada.
The acquisition expands Kaufman Financial Group’s international insurance presence in the specialty insurance marketplace.
Included in the acquired group of companies is Van Wagoner Companies Inc., a managing general agency in Dallas, Texas. It will now operate as Burns & Wilcox.
Chesterfield Group Ltd.’s principal operating company is Chesterfield Insurance Brokers Ltd. Domiciled in the United Kingdom, the company is the group’s Lloyd’s of London broker.
The acquisition also includes Chesterfield Canada Inc., a Canadian-based wholesale broker focused on specialty commercial risks. This marks Kaufman Financial Group’s entry into the Canadian marketplace. The Canadian offices, which are located in Toronto and Ottawa, will operate under the name of Kaufman Financial Group’s largest subsidiary, Burns & Wilcox.
Alan Jay Kaufman, president, chairman and CEO of Kaufman Financial Group, said the acquisition “will act as a vehicle to expand our international presence and leverage our strength worldwide.”
The acquisition brings more than 60 people to the Kaufman Financial Group team, including senior management who will remain in their current leadership positions. James Stevenson, managing director of Chesterfield, will be among them.
The H.W. Kaufman Financial Group is the parent company of Burns & Wilcox, the largest privately-held wholesale broker and underwriting manager. Burns & Wilcox has more than 40 offices across the U.S., Canada and London and employs more than 1,000 professionals. Headquartered in Farmington Hills, Michigan, The Kaufman Financial Group includes Burns & Wilcox, Burns & Wilcox Brokerage, Burns & Wilcox Re, and R.B. Jones. It also encompasses Royal Premium, a premium financing company; US-Reports, an inspections, audits, and risk-management company; and Minuteman Adjusters.
Topics Mergers & Acquisitions Texas Agencies Insurance Wholesale London Canada
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