Business Moves & Mergers News

Auto-Owners Insurance Proposes Affiliation with New Hampshire-Based Concord

Auto-Owners Insurance, a Lansing, Michigan, based insurance provider, has announced its proposed affiliation with the Concord, N.H., based Concord General Mutual Insurance group of companies. The transaction has been approved by both Auto-Owners’ and Concord’s boards and is expected to …

Michigan’s Global Marine Acquired by Specialty Program Group

Specialty Program Group, a holding company for specialty insurance brokers and underwriting facilities, has acquired the assets of Global Marine Insurance Agency. Terms of the acquisition were not disclosed. Based in Traverse City, Mich., Global Marine is a national brokerage …

JenCap Holdings Agrees to Acquire NIF Group in New York

JenCap Holdings LLC, a New York-headquartered consolidator of specialty insurance distribution and program management businesses, has agreed to acquire privately held NIF Group Inc. (NIF), a managed general agency, program administrator and wholesale insurance broker based in Manhasset, New York. …

Hub International Acquires Oklahoma’s Medley/Turrentine & Assoc.

Chicago-based insurance broker Hub International Limited (Hub), has acquired the assets of Medley/Turrentine & Associates LLC, headquartered in Oklahoma City, Okla. Terms of the acquisition were not disclosed. Medley/Turrentine & Associates, and principals Daniel Medley and Brent Turrentine, specialize in property/casualty …

FinTech Startup, ‘Number26,’ Grows in Europe, Offering Banking, Insurance

Smartphone-only bank Number26 is now offering its services in 17 countries in the euro zone, expanding from a smaller core of European markets it entered a year ago, it said on Tuesday. The Berlin-based company is backed by Li Ka-shing, …

Woodruff-Sawyer to Acquire Neovia in California

Woodruff-Sawyer & Co. will acquire Neovia Integrated Insurance Services in Santa Barbara, Calif. Woodruff-Sawyer will leverage the proprietary and client-focused employee benefits solutions for which Neovia is known. San Francisco, Calif.-based Woodruff-Sawyer has offices throughout California and in Oregon, Washington, …

Marsh & Mclennan Agency Acquires Ohio’s Benefits Resource Group

Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, has acquired Benefits Resource Group (BRG), in Independence, Ohio. Terms of the transaction were not disclosed. BRG, an employee benefits consulting firm, offers a wide range of …

Lloyd’s Details Its New Corporate Operating Model to Help Deliver Vision 2025

Lloyd’s announced details of its new Corporation Operating Model (COM) that it said will enable it to deliver its Vision 2025* more effectively and efficiently. Effective Jan. 1, 2017, COM will enable Lloyd’s to keep “a sharper focus on its …

Liberty Mutual to Acquire Ironshore from China’s Fosun for $3 Billion

Liberty Mutual Insurance has agreed to acquire specialty lines insurer Ironshore Inc. from China’s Fosun International Limited. Liberty Mutual will acquire a 100 percent ownership interest in Ironshore. According to the announcement, the purchase price will equate to 1.45x Ironshore’s …

Xceedance Opens Insurance Operations Center in Krakow, Poland

Xceedance, the Boston-based provider of property/casualty insurance technology, analytics and consulting services, announced the launch of an operations center in Krakow, Poland. The center will provide services and support to Xceedance clients for underwriting, policy and claims management, credit control, …