Business Moves & Mergers News

Federated National Launching Another Florida Home Insurer, Monarch National

Florida homeowners’ insurer Federated National Holding Co. and the Canadian bank and investment manager C.A. Bancorp Inc. have agreed to form a new Florida-based homeowners insurance carrier to be named Monarch National Insurance Co. Both FNHC and C.A. Bancorp are …

Pennsylvania’s MJB Financial Joins Iroquois Group

MJB Financial and Insurance Advisors in Drexel Hill, Penn., has joined The Iroquois Group network, according to Michael Brown, agency principal, and Iroquois. The agency joined Iroquois on July 17, according to the announcement. The Iroquois Group, which began in …

Millennium in New Mexico Merges With Leavitt Group Four Corners

Farmington, N.M.-based Millennium Insurance Agency has merged with Leavitt Group Four Corners. In the combined operations, Millie Howle and Terry Hayes are partners along with the current co-owner, Ryan Woolverton. Leavitt Group Four Corners is part of the Leavitt Group, …

CGS&C’s New MGA Targets U.S. Healthcare Industry with Lloyd’s

Wholesale insurance broker Cooper Gay Swett & Crawford (CGSC) has launched an underwriting management agency specializing in the healthcare industry. The new venture, Pro-Praxis Insurance, will be led by Robert Allen who has 25 years of experience in the industry, …

EPIC Purchases Jenkins Insurance Services in California

The shareholders of Jenkins Insurance Services have sold 100 percent of their shares to Edgewood Partners Insurance Center. Terms of the deal, which closed on July 17, were not disclosed. Jenkins has California offices in Concord, Sacramento, San Jose, Orange County, and offices in Reno, Nev. …

Cross Insurance Acquires Merchant, Needham & Associates in Maine

Bangor, Maine-based Cross Insurance has acquired Merchant, Needham & Associates Insurance, an independent insurance agency based in Northeast Harbor, Maine. Terms of the transaction were not disclosed. Originally founded in the late 1890s, Merchant, Needham & Associates provides business, home, …

USI Acquires BHB Insurance Services in New Jersey

USI Insurance Services announced the closing of the acquisition of BHB Insurance Services in Toms River, New Jersey. Terms of the transaction were not disclosed. USI says BHB is best known for its community associations practice group (primarily condos and …

Greater Texas Insurance Managers and Agency Merges with BKCW Insurance

Independent insurance agency BKCW L.P. of Killeen, Texas, and Greater Texas Insurance Managers and Agency of Austin merged operations effective July 1, 2014. Greater Texas Insurance Managers and Agency will continue to do business at its current location on Anderson …

Liberty Mutual Inks Reinsurance Deal with Berkshire’s National Indemnity

Liberty Mutual Insurance said it has reached a deal with National Indemnity Co. (NICO), a subsidiary of Berkshire Hathaway Inc., on a combined aggregate adverse development cover for substantially all of Liberty Mutual’s U.S. workers’ compensation, asbestos and environmental liabilities. …

Brightway Insurance Opens First Pennsylvania Store

The retail insurance franchise Brightway Insurance opened its first store in Pennsylvania. Associate agency owner Ryan George opened Brightway’s first Pennsylvania store in Cranberry Township, near Pittsburgh. He previously spent four years with Luttner Financial Group, where he was an …