business moves and mergers News

Brightway Insurance Opens Store in Panama City, Florida

Brightway Insurance has opened a franchise store in Panama City, Florida. The new location is owned and operated by Dale Turner. Prior to opening the Brightway store, Turner worked with Nationwide Insurance and Farmers Insurance. He brings to Brightway more …

Brightway Insurance Adds Another Office in North Carolina

Brightway Insurance has expanded its its North Carolina presence with a new office in Cary. Greensboro native Mazin Ganim owns and operates the Brightway store in Cary. Prior to opening the Brightway store, Ganim worked for FedEx for 25 years. …

Maritzen to Head New Endurance U.S. Commercial Property Operation

Bermuda-based Endurance Specialty Holdings Ltd. announced that Mark Maritzen has joined the company as Executive Vice President and Head of Commercial Property within its U.S. Insurance operation. He has nearly twenty years of experience in the insurance industry in both …

AssuredPartners Enters West Virginia, Acquiring Commercial Insurance Services

Florida-based AssuredPartners Inc. said it has completed the acquisition of Commercial Insurance Services through its newly formed operation AssuredPartners of West Virginia. Terms were not disclosed. The Commercial Insurance Services transaction marks the first platform acquisition for AssuredPartners in West …

SNL Insurance Acquires Analytics Firm iPartners

SNL Insurance, a division of SNL, has acquired iPartners LLC, which offers analytics and reporting software and services that help insurers collect and analyze internal business data. Terms were not disclosed. SNL Insurance clients will be given the option to …

Tower Says Its Sale of Stake in Canopius Lessens Liquidity Concerns

Tower Group International Ltd. said that it has paid $70 million that was outstanding to its Bank of America credit facility using proceeds from the sale of a stake in Canopius Group Limited. Tower Group, Inc., a wholly owned subsidiary, …

R-T Specialty Completes Merger with Wholesale Broker Westrope

Chicago-based national wholesale insurance broker R-T Specialty said it has completed its merger with another wholesale broker Westrope, based in Kansas City, Missouri. The deal was first announced Nov. 1. Terms were not disclosed. Westrope’s business is concentrated in the …

Highland Risk Services Partners with Ironshore for Continuing Care Retirement Communities

Glenview, Ill.-based insurance wholesaler Highland Risk Services announced an exclusive partnership with Ironshore to provide liability insurance for the empirical risk program, which is designed specifically for continuing care retirement communities (CCRCs). It recognizes and rewards CCRCs for their designation …

Confie Seguros Acquires Capital Insurance Agency in New Jersey

Hispanic market-focused insurance agency network Confie Seguros announced the acquisition of Capital Insurance Agency of Trenton, N.J. Capital Insurance has been in business since 1935 and specializes in personal insurance lines, as well as commercial insurance. Confie Seguros CEO Joe …

Highmark Closes $604M Buyout of West Penn Allegheny Bondholders

Insurer Highmark Inc. on Monday completed a $604.2 million bondholder buyout of troubled West Penn Allegheny Health System at 87.5 cents on the dollar. The buyout, in which Highmark acquired just over 85 percent of the outstanding principal amount of …