Insurance Journal » Business Moves & Mergers http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Mon, 22 Dec 2014 22:25:20 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.2 LeapFrog, Lombard to Acquire Stakes in Thai Insurer SMK from RSA http://www.insurancejournal.com/news/international/2014/12/19/350720.htm Fri, 19 Dec 2014 17:57:33 +0000 http://www.insurancejournal.com/?p=350720 LeapFrog Investments, Lombard Investments, and Syn Mun Kong Insurance Public Company Limited (SMK) [SMK:Bangkok] announced today that LeapFrog and Lombard will each acquire approximately 11 percent of SMK, from Royal & Sun Alliance Insurance Plc (RSA). The venture is the …

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Donald Gaddis Co. Acquires Chicago-Based Kelly and Elliott http://www.insurancejournal.com/news/midwest/2014/12/19/350718.htm Fri, 19 Dec 2014 17:51:29 +0000 http://www.insurancejournal.com/?p=350718 Wholesale insurance broker and general agency, Donald Gaddis Co. Inc., has purchased rights to all the renewals of Kelly and Elliott Ltd. Both companies are headquartered in Chicago. Gaddis also hired all of Kelly and Elliott’s employees. The transaction was effective …

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Arthur J. Gallagher Acquires Affinity Marketing Group in Massachusetts http://www.insurancejournal.com/news/east/2014/12/18/350620.htm Thu, 18 Dec 2014 20:22:47 +0000 http://www.insurancejournal.com/?p=350620 Arthur J. Gallagher & Co. announced the acquisition of Affinity Marketing Group LLC in Natick, Massachusetts. Terms of the transaction were not disclosed. Established in 2001, Affinity Marketing Group (AMG) is a national program broker that provides access to products …

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Integro Acquires Ventura Insurance Brokerage in New York http://www.insurancejournal.com/news/east/2014/12/18/350541.htm Thu, 18 Dec 2014 19:26:29 +0000 http://www.insurancejournal.com/?p=350541 Insurance brokerage and risk management firm Integro announced its acquisition of Ventura Insurance Brokerage in New York City. Financial details of the transaction were not disclosed. Ventura Insurance Brokerage is an entertainment specialist brokerage firm providing insurance services to the …

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Iowa’s Farmers Mutual Hail Insurance to Acquire John Deere Crop Insurance http://www.insurancejournal.com/news/midwest/2014/12/18/350573.htm Thu, 18 Dec 2014 17:43:32 +0000 http://www.insurancejournal.com/?p=350573 Farmers Mutual Hail Insurance Co. of Iowa (FMH) announced it is acquiring Moline, Ill.-based John Deere Insurance Co. and John Deere Risk Protection Inc. The action is a result of Deere’s previously announced review of strategic options for the crop insurance business. …

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ACE to Buy Fireman’s Fund Personal Lines; Famous Brand Fading Away http://www.insurancejournal.com/news/national/2014/12/18/350508.htm Thu, 18 Dec 2014 13:41:24 +0000 http://www.insurancejournal.com/?p=350508 Allianz Group has agreed to sell the U.S. personal lines business of its Fireman’s Fund unit to ACE for $365 million by means of renewal rights arrangement. The merger of the personal lines business with ACE and the planned integration …

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Arthur J. Gallagher Acquires Independent Benefit Services in Maryland http://www.insurancejournal.com/news/east/2014/12/17/350487.htm Wed, 17 Dec 2014 22:17:13 +0000 http://www.insurancejournal.com/?p=350487 Arthur J. Gallagher & Co. today announced the acquisition of Independent Benefit Services Inc. (iBEN) located in Rockville, Maryland. Terms of the transaction were not disclosed. Founded in 1989, iBEN provides employee benefits, human resources and retirement plan consultation and …

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Integro Acquires UK’s Howard Global Insurance Services http://www.insurancejournal.com/news/international/2014/12/17/350413.htm Wed, 17 Dec 2014 16:17:53 +0000 http://www.insurancejournal.com/?p=350413 International insurance broker and risk management firm Integro announced its acquisition of Howard Global Insurance Services Ltd., a Lloyd’s-registered specialty broker headquartered in London. Financial details of the transaction have not been disclosed. Howard Global was established in 2000, and …

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Antitrust Concerns End Verisk Bid for Rival EagleView Technology http://www.insurancejournal.com/news/national/2014/12/17/350388.htm Wed, 17 Dec 2014 13:10:44 +0000 http://www.insurancejournal.com/?p=350388 Verisk Analytics Inc. scrapped a planned $650 million takeover of EagleView Technology Corp. after antitrust regulators said the deal would give the company too large a share in the market for aerial images used by insurers. The data provider instead …

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OneBeacon Sells Lawyers Professional Liability Business to Argo http://www.insurancejournal.com/news/national/2014/12/17/350379.htm Wed, 17 Dec 2014 12:52:31 +0000 http://www.insurancejournal.com/?p=350379 OneBeacon Insurance Group Ltd. has sold the renewal rights to its lawyers professional liability business to Argo Group US, Inc., a member of Argo Group International Holdings Ltd. The transaction includes renewal rights to policies renewing on or after January …

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Meeker Sharkey Merges With James F. Hurley Insurance Agency in N.J. http://www.insurancejournal.com/news/east/2014/12/16/350292.htm Tue, 16 Dec 2014 17:59:00 +0000 http://www.insurancejournal.com/?p=350292 Meeker Sharkey Associates, an insurance agency in Cranford, New Jersey, and James F. Hurley Insurance Agency of Bedminster, New Jersey, have announced their merger. Terms of the transaction were not disclosed. The two agencies said that by combining their resources, …

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USI Acquires Program Business From Askin, Weber & Reed in N.J. http://www.insurancejournal.com/news/east/2014/12/16/350271.htm Tue, 16 Dec 2014 17:41:34 +0000 http://www.insurancejournal.com/?p=350271 USI Insurance Services in Valhalla, New York, announced its acquisition of an insurance program business from Askin, Weber & Reed (AWR) in Freehold, New Jersey. Terms of the transaction, which has been completed, were not disclosed. AWR has been involved …

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BusinesFirst Enters Workers’ Compensation Market in Georgia http://www.insurancejournal.com/news/southeast/2014/12/16/350093.htm Tue, 16 Dec 2014 16:08:51 +0000 http://www.insurancejournal.com/?p=350093 BusinessFirst Insurance Co., a monoline workers’ compensation company, is now offering coverage to employers in Georgia. BusinessFirst and affiliate RetailFirst Insurance Co. comprise the RetailFirst Insurance Group. During 2013, the companies reported more than $108 million in combined direct written …

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Progressive Insurance Acquiring Homeowners Group ASI for $875M http://www.insurancejournal.com/news/national/2014/12/16/350221.htm Tue, 16 Dec 2014 14:29:59 +0000 http://www.insurancejournal.com/?p=350221 Auto insurance giant Progressive Insurance is enhancing its homeowners insurance offerings by acquiring controlling interest in a Florida-based group of insurers now selling homeowners, renters, condo, umbrella, flood  and other property/casualty coverages in about half the states nationwide. The Progressive …

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Insurance Tech Firms Majesco, Cover-All to Merge http://www.insurancejournal.com/news/national/2014/12/16/350217.htm Tue, 16 Dec 2014 13:30:36 +0000 http://www.insurancejournal.com/?p=350217 Insurance tech-company Cover-All Technologies plans to merge with rival Majesco, a deal that will create an operation with $100 million in annual revenue and a global reach. Majesco (formerly MajescoMastek) founder and CEO Ketan Mehta will become president and CEO …

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UPC Insurance to Acquire Family Security Holdings http://www.insurancejournal.com/news/national/2014/12/16/350213.htm Tue, 16 Dec 2014 13:08:38 +0000 http://www.insurancejournal.com/?p=350213 United Insurance Holdings Corp. (UPC Insurance) said it plans to acquire Family Security Holdings LLC for $9 million. The transaction is expected to close by Jan. 31, 2015. FSH is an insurance holding company with two wholly owned subsidiaries, Family Security Insurance …

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Arthur J. Gallagher Acquires O’Gorman & Young in New Jersey http://www.insurancejournal.com/news/east/2014/12/15/350167.htm Mon, 15 Dec 2014 20:16:57 +0000 http://www.insurancejournal.com/?p=350167 Arthur J. Gallagher & Co. announced the acquisition of O’Gorman & Young Inc., headquartered in Chatham, New Jersey, including its affiliate G.R. Murray Insurance, in Princeton, New Jersey. Terms of the transaction were not disclosed. Founded in 1894, O’Gorman & …

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Allianz Announces New Leadership Team for Combined Fireman’s Fund, AGCS NA http://www.insurancejournal.com/news/national/2014/12/12/349991.htm Fri, 12 Dec 2014 18:28:40 +0000 http://www.insurancejournal.com/?p=349991 German insurance giant Allianz announced a new team that will lead the combined Fireman’s Fund and Allianz Global Corporate & Specialty North American business beginning in 2015. Andrew Torrance, current president and CEO of Fireman’s Fund Insurance Company (FFIC), will …

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Farmers Insurance Set to Enter Connecticut in January http://www.insurancejournal.com/news/east/2014/12/12/349972.htm Fri, 12 Dec 2014 17:59:32 +0000 http://www.insurancejournal.com/?p=349972 Farmers Insurance is set to begin providing insurance and financial services to Connecticut consumers Jan. 1, 2015, pending regulatory approvals, according to company executives who recently briefed local media representatives on the company’s plans. “Farmers is excited about its entry …

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NFP Acquires Foran Insurance in Massachusetts http://www.insurancejournal.com/news/east/2014/12/12/349935.htm Fri, 12 Dec 2014 17:26:09 +0000 http://www.insurancejournal.com/?p=349935 National Financial Partners Corp. (NFP), a New York-based provider of benefits, insurance and wealth management services, has acquired EBS/Foran Insurance and Advisory Services Inc. (Foran Insurance) in Massachusetts. Terms of the transaction were not disclosed. The Massachusetts-based Foran Insurance, with …

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Alliant Insurance Services Acquires The Camps Group in New York http://www.insurancejournal.com/news/east/2014/12/12/349860.htm Fri, 12 Dec 2014 17:08:34 +0000 http://www.insurancejournal.com/?p=349860 Alliant Insurance Services, a specialty insurance brokerage firm based in Newport Beach, California, has acquired The Camps Group, an employee benefits services provider in New York. Terms of the transaction were not disclosed. The Camps Group will join Alliant Insurance …

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AssuredPartners Acquires First Palmetto Insurance in South Carolina http://www.insurancejournal.com/news/southeast/2014/12/11/349777.htm Thu, 11 Dec 2014 16:55:04 +0000 http://www.insurancejournal.com/?p=349777 AssuredPartners Inc., through its subsidiary Assured Neace Lukens, has acquired First Palmetto Insurance Agency in South Carolina. Terms of the transaction were not disclosed. First Palmetto Insurance Agency offers personal lines insurance, including homeowners and auto, and coverage for businesses …

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Willis Completes Acquisition of IFG Ireland for Human Capital & Benefits http://www.insurancejournal.com/news/international/2014/12/11/349761.htm Thu, 11 Dec 2014 15:25:56 +0000 http://www.insurancejournal.com/?p=349761 Willis Ireland, part of Willis Group Holdings plc, announced it has received the relevant regulatory approvals and has completed its acquisition of a range of Irish pension and financial advisory businesses from IFG Group plc. “The investment augments and supports …

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Northwest Insurance Services in Pennsylvania Joins The Iroquois Group http://www.insurancejournal.com/news/east/2014/12/09/349409.htm Tue, 09 Dec 2014 22:14:32 +0000 http://www.insurancejournal.com/?p=349409 Erie, Pennsylvania-based Northwest Insurance Services, a division of Northwest Savings Bank, has joined agency network The Iroquois Group, according to Douglas Bert, president of Northwest Insurance Services. Northwest Savings Bank operates 163 community banking locations in Pennsylvania, New York, Ohio …

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INSURICA Acquired Oklahoma, California Agencies in Q3 2014 http://www.insurancejournal.com/news/southcentral/2014/12/09/349355.htm Tue, 09 Dec 2014 17:27:19 +0000 http://www.insurancejournal.com/?p=349355 Oklahoma City-based INSURICA Insurance Management Network announced it acquired an agency in Oklahoma and one in California during the third quarter of 2014. In Oklahoma, INSURICA added James & Associates, located in Tulsa. James & Associates has been in business for …

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Pioneer Special Risk Commences Underwriting via New York Office http://www.insurancejournal.com/news/east/2014/12/09/349313.htm Tue, 09 Dec 2014 15:56:15 +0000 http://www.insurancejournal.com/?p=349313 Pioneer Underwriters, a London-based underwriting group within Minova Insurance Holdings Ltd., announced that its New York-based division Pioneer Special Risk (PSR) has commenced underwriting. PSR was launched in October 2014 and is led by Gary Dubois, division president. PSR has …

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Integro Acquires Canadian Broker Finning Insurance Services http://www.insurancejournal.com/news/international/2014/12/09/349288.htm Tue, 09 Dec 2014 11:03:37 +0000 http://www.insurancejournal.com/?p=349288 International insurance brokerage and risk management firm Integro announced it has acquired the assets of Finning Insurance Services (FIS), an insurance brokerage business, from Finning International Inc. Financial details of the transaction were not disclosed. Integro noted that since its …

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Risk Solution in Hawaii Joins Woodruff-Sawyer & Co. http://www.insurancejournal.com/news/west/2014/12/08/349178.htm Mon, 08 Dec 2014 15:52:10 +0000 http://www.insurancejournal.com/?p=349178 Hawaii-based insurance firm Risk Solution Partners has merged with Woodruff-Sawyer & Co. RSP will operate as a subsidiary of Woodruff-Sawyer & Co. under the Risk Solution Partners name. The merger enables Woodruff-Sawyer to strengthen its position in this market, the …

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Regions Insurance Opens Captive Practice in Georgia; Buying A.I. Insurance http://www.insurancejournal.com/news/southeast/2014/12/08/349161.htm Mon, 08 Dec 2014 14:47:48 +0000 http://www.insurancejournal.com/?p=349161 Regions Insurance, an affiliate of Regions Bank,  has opened a new office in Athens, Georgia, to provide captive insurance services. The office was established as a team of five principals and 29 associates joined Regions Insurance Inc.1 from the former …

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InsureZone Agency Network Enters Florida, Offering Markets http://www.insurancejournal.com/news/southeast/2014/12/05/349034.htm Fri, 05 Dec 2014 15:54:58 +0000 http://www.insurancejournal.com/?p=349034 Fort Worth, Texas-based InsureZone, a national brokerage and agency network, has launched operations in Florida. The new operation, Florida InsureZone Direct (IZD), is targeting small-to-midsized insurance agencies, offering them markets, tools and support to help them compete with larger brokers …

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