agency acquisition News

Hilb Group Acquires North Carolina’s Lake Norman Benefits

The Hilb Group, LLC said it has acquired Lake Norman Benefits of Charlotte, North Carolina. Terms were not disclosed on the transaction that closed on Nov. 1. LNB will continue to operate at its current location under previous owner and …

AssuredPartners Acquires Ramsey Insurance in West Virginia

AssuredPartners has acquired Ramsey Insurance Agency Inc., in Charleston, West Virginia. Terms of the transaction were not disclosed. Ramsey Insurance Agency reports revenues of approximately $1.5 million from selling insurance to 1,500 businesses and 2,500 families in West Virginia. As …

Marsh & McLennan Agency Acquires Senn Dunn in North Carolina

Marsh & McLennan Agency LLC (MMA) said it 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 employees.  In 2013, …

Towne Insurance Acquires North Carolina’s Southern Insurance Agency

Towne Insurance, a subsidiary of Virginia based TowneBank, has acquired Southern Insurance Agency Inc. in Kitty Hawk, North Carolina. The deal continues Towne’s expansion in North Carolina. Southern Insurance will continue operating under its present name and leadership, serving Kitty …

Eastern Insurance Acquires Smith Buckley & Hunt in Massachusetts

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. The principals of the agency are …

Arthur J. Gallagher Buys New Zealand’s Mike Henry Brokers

Arthur J. Gallagher & Co. has acquired Mike Henry Insurance Brokers Limited (MHIB), headquartered in Auckland, New Zealand. MHIB has annualized revenues of approximately $4.5 million and 30 staff operating from its offices in Auckland and Christchurch, according to the …

Marsh & McLennan Agency Acquires South Carolina’s Capstone

Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh LLC, ] has acquired Capstone Insurance Services LLC, a $1.8 million revenue agency located in Greenville, South Carolina. Terms of the transaction were not disclosed. Founded in 1995, …

BB&T to Acquire Woodbury & Co. in Carolinas

BB&T Insurance Services said it will acquire  Woodbury & Co. of Wilmington, N.C., and Myrtle Beach, S.C. Woodbury & Co. sells commercial property/casualty; employee benefits; individual life and health; personal lines; and professional liability throughout the Carolinas. The agency has …

Wells Fargo Selling 42 Smaller Regional Insurance Offices to USI

Wells Fargo & Co., the largest U.S. home lender, has agreed to sell more than 40 percent of its insurance brokerage locations to focus bricks-and-mortar operations on higher-growth regions and bigger clients. USI Insurance Services will purchase 42 of Wells …

Cross Insurance Acquires Assets of Maine, Connecticut Brokers

Bangor, Maine-based Cross Insurance has acquired the assets of two insurance brokers – Willis of Northern New England Inc., and The Insurance Exchange Inc. of Stamford, Connecticut. Formerly known as the Dunlap Agency, Willis of Northern New England is a …