Primary Group Inc., the U.S. holding company of Bermuda-based insurance distribution organization Primary Group Ltd., announced the acquisition of Georgia-based Site Inspections LLC. The transaction involves the purchase of 51% of the company with an option to acquire the remaining shares at a later date.
Site Inspections is a national provider of property and casualty inspections. Its services allow insurance and reinsurance customers to order, receive and archive inspections in a web environment (www.siteinspections.com). The process enables loss control data elements to be captured in a database environment, allowing for strong information management capabilities and data mining activities.
Greg Hall, who remains a significant shareholder in the business, will assume the role of president and CEO.
“As we create a coherent business to distribute insurance products in North America, we constantly look to differentiate ourselves from others in the field; Site Inspections has a very impressive technical and commercial model that will be a clear benefit to our other businesses and will also bring value to our risk-bearing partners,” said Charles Norton-Smith, president and CEO of Primary Group Incorporated. “We also welcome the energy and fine reputation that Greg Hall will bring to our business.”
Hall added that the database management and distribution capabilities of the Site Inspections model will enable the company to build a pre-eminent inspection business, as well as to provide a proven platform on which to develop other online insurance products and solutions.