Business Moves & Mergers News

Global Risk Partners Buys Marshall Wooldridge, a UK Broker with Growth Plans

Global Risk Partners Limited (GRP), the acquisitive insurance broking and managing general agent investment vehicle, has acquired Marshall Wooldridge, a UK commercial insurance broker which controls in excess of £20 million ($25.2 million) GWP. Marshall Wooldridge has served the business …

Starr Buys Wright USA from Ironshore, Subsidiary of China’s Fosun

Starr Companies has acquired Wright USA from Ironshore Insurance Services, a subsidiary of China’s Fosun Group. Wright USA is an insurance agency and third-party administrator principally providing Federal Employee Professional Liability (FEPLI) as well as disability, life, dental and other …

Brit Receives Preliminary Approval from Lloyd’s to Launch Syndicate 2988

Brit Ltd., the London-based specialty insurer, has received in principle approval* from the Lloyd’s Franchise Board to launch a new syndicate, Syndicate 2988. The syndicate plans to begin underwriting business attaching on or after January 2017, subject to completion of …

Advent Launches Bespoke Products U/W Unit; New Team Joins from Beazley

Lloyd’s insurer Advent announced the launch of its Bespoke Products underwriting unit, led by Paul Driver and Philip Misztela, and supported by Stuart Cowen. The new team will report to Advent CUO William Beveridge. John Marks, who founded the portfolio …

R&Q Acquires U.S. Sports Captive Insurer in Runoff

London’s Randall & Quilter Investment Holdings Ltd. said it has acquired United States Sports Insurance Co., a wholly owned captive insurer of USA Swimming Inc. for $2.1 million. The company being acquired was incorporated originally under the laws of Barbados …

Asta Gets Preliminary Lloyd’s Approval to Manage Blenheim Syndicate 5886

Asta, the Lloyd’s third party managing agent, announced it has received “in principle” approval* from the Lloyd’s Franchise Board to establish and manage Blenheim Syndicate 5886. Asta expects to commence underwriting policies incepting on or after Jan. 1, 2017. Nick …

JenCap Holdings Acquires Missouri-Based M.J. Kelly Co.

New York-based JenCap Holdings LLC has acquired privately held M. J. Kelly Co. (MJK), a managing general agency and wholesale insurance brokerage based in Springfield, Missouri, with offices in nine states throughout the Midwest and Southeast. Since 1986, MJK has …

Texas Nonsubscriber Specialist CPro Associates Buys Accident Insurance Services

Dallas-based general agency CPro Associates Inc. has acquired Accident Insurance Services Inc., also of Dallas. Both companies specialize in Texas nonsubscriber occupational injury benefit plans. The stock purchase transaction becomes effective Oct. 1. Alan Hardin, CEO and founding partner of CPro Associates, …

NSI Insurance Group Acquires New York Based KMH Insurance Services

NSI Insurance Group, a Miami Lakes, Florida, based privately held insurance agency, has acquired KMH Insurance Services, a New York based specialty insurance broker focused on serving marine and equine customers. Terms of the transaction were not disclosed. KMH president …

The Hartford Attracting Bidders for Annuity Runoff Business

Hartford Financial Services Group Inc. is working with JPMorgan Chase & Co. to see if the insurer can find a buyer for Talcott Resolution, the unit that includes U.S. variable annuities, according to people familiar with the matter. Apollo Global …