Insurance Journal » Business Moves & Mergers http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Wed, 01 Oct 2014 18:51:53 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.2 HCC Insurance Eyes Crop Insurance with Acquisition of Producers Ag http://www.insurancejournal.com/news/national/2014/10/01/342039.htm Wed, 01 Oct 2014 10:51:40 +0000 http://www.insurancejournal.com/?p=342039 HCC Insurance Holdings Inc. said has agreed to acquire Producers Ag Insurance Group Inc. (ProAg) from CUNA Mutual Group in an all-cash purchase of ProAg’s capital stock for $110 million. The transaction, which is subject to regulatory approvals, is expected …

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Ames & Gough Acquires Bixby Insurance Agency in Rhode Island http://www.insurancejournal.com/news/east/2014/09/30/342006.htm Tue, 30 Sep 2014 16:54:59 +0000 http://www.insurancejournal.com/?p=342006 Ames & Gough, an insurance broker and risk management consultant specializing in serving design professionals, law firms, associations/nonprofits and other professional service firms, announced it has acquired the business of Bixby Insurance Agency Inc., a Providence, R.I., agency serving architects …

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Antitrust Review Delays Verisk’s Purchase of EagleView http://www.insurancejournal.com/news/national/2014/09/29/341933.htm Tue, 30 Sep 2014 02:30:20 +0000 http://www.insurancejournal.com/?p=341933 Verisk Analytics Inc., the supplier of data to insurers and banks, said its planned $650 million takeover of EagleView Technology Corp. has been delayed amid a review by antitrust regulators. The purchase agreement has been extended to Dec. 31, after …

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AssuredPartners Acquires Crawford Advisors in Maryland http://www.insurancejournal.com/news/east/2014/09/29/341882.htm Mon, 29 Sep 2014 15:40:40 +0000 http://www.insurancejournal.com/?p=341882 AssuredPartners Inc., through its subsidiary AssuredPartners of Maryland, LLC, has acquired Crawford Advisors, LLC, in Hunt Valley, Maryland. Terms of the transaction were not disclosed. Crawford Advisors specializes in employee benefits and compliance services for mid-market and large companies. It …

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Marketform in Major Modernization Move to New Offices http://www.insurancejournal.com/news/international/2014/09/29/341843.htm Mon, 29 Sep 2014 12:32:32 +0000 http://www.insurancejournal.com/?p=341843 Specialist Lloyd’s underwriter Marketform announced that it will relocate its entire London staff to new offices at 20 Gracechurch Street, effective today, the 29th of September. “The new premises, 100 meters from Lloyd’s, has been specifically designed to accommodate its …

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Hull & Co. of California to Administer Arrowhead’s Traffic Control Program http://www.insurancejournal.com/news/west/2014/09/25/341588.htm Thu, 25 Sep 2014 15:41:50 +0000 http://www.insurancejournal.com/?p=341588 Hull & Company Inc. and Arrowhead General Insurance Agency Inc. have recently entered into an agreement to transfer Arrowhead’s traffic control insurance program book of business from Arrowhead to Hull’s Irvine, Calif. office. The traffic control program, known as “FLOW,” …

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Direct Line Sells Overseas Businesses to Mapfre http://www.insurancejournal.com/news/international/2014/09/25/341566.htm Thu, 25 Sep 2014 09:11:39 +0000 http://www.insurancejournal.com/?p=341566 Direct Line Insurance Group Plc sold its German and Italian businesses to Spain’s Mapfre SA for €550 million ($700 million) as the company pares back its international operations to cut costs and pay a dividend. The U.K.’s biggest home and auto insurer expects …

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Deere Mulls Sale of Crop Insurance Business http://www.insurancejournal.com/news/national/2014/09/24/341451.htm Wed, 24 Sep 2014 17:00:40 +0000 http://www.insurancejournal.com/?p=341451 Deere & Co., the world’s largest maker of agricultural equipment, hired Citigroup Inc. to look at strategic options for its crop insurance unit as it sells assets to focus on core businesses such as manufacturing. No formal decision has been …

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Catalina Agrees to Acquire Danielson Indemnity http://www.insurancejournal.com/news/international/2014/09/23/341341.htm Tue, 23 Sep 2014 12:25:35 +0000 http://www.insurancejournal.com/?p=341341 Catalina Holdings (Bermuda) Ltd. has signed a definitive agreement to acquire Danielson Indemnity Company, the holding company of National American Insurance Company of California and Danielson National Insurance Company, from Covanta Holdings Corporation. At 30 June 2014, Danielson had total …

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Insure.net Acquires Stark Agency in Connecticut http://www.insurancejournal.com/news/east/2014/09/22/341256.htm Mon, 22 Sep 2014 15:49:22 +0000 http://www.insurancejournal.com/?p=341256 Insure.net, an independent insurance agency based in North Haven, Connecticut, announced it has acquired Stark Agency in Chester, Connecticut. Founded in 2006, Insure.net has been mostly a personal lines agency, but the firm is now starting to grow its commercial …

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Aviva Sells Spanish Venture Stake after Tribunal OK’s Deal http://www.insurancejournal.com/news/international/2014/09/19/341116.htm Fri, 19 Sep 2014 13:09:52 +0000 http://www.insurancejournal.com/?p=341116 British insurer Aviva is selling its stake in joint venture CxG Aviva for €287 million ($369 million) to venture partner Novacaixagalicia (NCG) Banco after a Spanish tribunal ruling cleared the way for a deal. The cash deal is expected to …

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Arthur J. Gallagher Acquires Hagedorn & Co. in New York http://www.insurancejournal.com/news/east/2014/09/17/340888.htm Wed, 17 Sep 2014 18:20:50 +0000 http://www.insurancejournal.com/?p=340888 Arthur J. Gallagher & Co. announced that it has acquired Hagedorn & Company located in New York, New York. Terms of the transaction were not disclosed. Founded in 1869, Hagedorn is a retail insurance broker providing property/casualty, risk management, group …

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Allianz to Assume Fireman’s Fund Commercial Lines; Future of Personal Lines Uncertain http://www.insurancejournal.com/news/national/2014/09/17/340861.htm Wed, 17 Sep 2014 16:53:00 +0000 http://www.insurancejournal.com/?p=340861 German insurance giant Allianz said it will absorb the commercial lines business of its U.S. subsidiary Fireman’s Fund Insurance Co. into one of its own global divisions. Meanwhile, after days of declining to comment, Allianz has acknowledged it is considering …

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Texas-Based CAA Welcomes New Agency Member in Kansas http://www.insurancejournal.com/news/southcentral/2014/09/17/340798.htm Wed, 17 Sep 2014 15:18:15 +0000 http://www.insurancejournal.com/?p=340798 Combined Agents of America LLC (CAA), based in Austin, Texas, added Strong’s Insurance Inc. in Nashville, Kan., as its 52nd member. Specializing in agriculture and oil, the agency was established in 1921 by Earl W. Strong. CAA is a privately-held …

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Sedgwick to Acquire VeriClaim, Other T&H Units http://www.insurancejournal.com/news/national/2014/09/17/340793.htm Wed, 17 Sep 2014 15:16:20 +0000 http://www.insurancejournal.com/?p=340793 Sedgwick Claims Management Services Inc. has agreed to acquire T&H Global Holdings, LLC and its subsidiaries that provide insurance claims services to insurance carriers, insurance brokers, corporations and public entities. The deal includes T&H subsidiaries VeriClaim Inc., VRS VeriClaim U.K. …

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ACP Re Completes Tower Group Merger; Personal Lines Sold to National General http://www.insurancejournal.com/news/national/2014/09/16/340563.htm Tue, 16 Sep 2014 14:21:50 +0000 http://www.insurancejournal.com/?p=340563 After months of uncertainty, the merger of ACP Re Ltd. and struggling reinsurer Tower Group International has finally closed. Bermuda-based ACP Re and Tower announced on Sept. 12 that all regulatory approvals were in place relating to ACP Re’s acquisition …

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XL Launches Regional E&S Insurance Operation with Ex-Scottsdale Underwriters http://www.insurancejournal.com/news/west/2014/09/15/340536.htm Mon, 15 Sep 2014 22:59:30 +0000 http://www.insurancejournal.com/?p=340536 XL Group has launched a regional underwriting operation in Scottsdale, Ariz. to offer brokers and clients in the Western U.S. more direct access to its excess and surplus insurance coverages The experienced underwriting team includes Scott Noffisinger, Katherine E. Schlueter, Rick M. Yale and Kim …

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Wisconsin’s R&R Insurance Services, Snyder Insurance Agency Merge http://www.insurancejournal.com/news/midwest/2014/09/15/340467.htm Mon, 15 Sep 2014 15:34:14 +0000 http://www.insurancejournal.com/?p=340467 R&R Insurance Services Inc. announced it the merger of  Snyder Insurance Agency, an independent insurance agency based in Oconomowoc, Wis. Both are well-established agencies in Waukesha County. R&R Insurance will be celebrating 40 years of service in southeastern Wisconsin next year …

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Maine’s SurePoint Re Advisors to Be Acquired by Willis Re http://www.insurancejournal.com/news/east/2014/09/11/340268.htm Thu, 11 Sep 2014 20:05:05 +0000 http://www.insurancejournal.com/?p=340268 Willis Group Holdings plc announced today that Willis Re Inc., its North American reinsurance business, has entered into a definitive agreement to acquire the assets of SurePoint Reinsurance Advisors, LLC, in Portland, Maine. Details of the transaction, which is expected …

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Burns & Wilcox Brokerage Opens Atlanta Office, Hires 3 Brokers http://www.insurancejournal.com/news/southeast/2014/09/10/340142.htm Wed, 10 Sep 2014 20:42:17 +0000 http://www.insurancejournal.com/?p=340142 Burns & Wilcox Brokerage has opened an office in Atlanta and hired three specialty property brokers for the new location. The new hires are Barry Whitton, managing director; Brent Lazenby, broker; and Thad Crane, broker. Whitton will lead the new …

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Ion Insurance Acquires Drescher Agency in Connecticut http://www.insurancejournal.com/news/east/2014/09/10/340138.htm Wed, 10 Sep 2014 18:47:50 +0000 http://www.insurancejournal.com/?p=340138 Ion Insurance Corp., an agency based in Naugatuck, Connecticut, recently announced it has signed a definitive agreement to acquire Drescher Insurance Agency in Chester, Connecticut. Terms of the transaction were not disclosed. Drescher Insurance Agency was founded in 2003. All …

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Japanese Specialty Reinsurer Canopius Expands U.S. Footprint http://www.insurancejournal.com/news/national/2014/09/10/340072.htm Wed, 10 Sep 2014 15:13:31 +0000 http://www.insurancejournal.com/?p=340072 Canopius Group Limited, the global specialty (re)insurance platform of Sompo Japan Nipponkoa Holdings Inc., said it is expanding its U.S. presence with the launch of Canopius Underwriting Agency Inc. (CUAI). Based in New York, CUAI will underwrite domestic facultative property …

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Arthur J. Gallagher Acquires Everett James in Connecticut http://www.insurancejournal.com/news/east/2014/09/10/340074.htm Wed, 10 Sep 2014 13:03:45 +0000 http://www.insurancejournal.com/?p=340074 Arthur J. Gallagher & Co. announced the acquisition of Everett James Inc. located in Ridgefield, Connecticut. Terms of the transaction were not disclosed. Established in 1990, Everett James offers employee benefits consulting and brokerage services primarily for large and middle-market …

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Lighthouse Insurance Expands Homeowners Program to North Carolina http://www.insurancejournal.com/news/southeast/2014/09/09/340011.htm Tue, 09 Sep 2014 15:56:06 +0000 http://www.insurancejournal.com/?p=340011 Beginning in November 2014, Lighthouse Property Insurance Corp. will offer homeowners insurance and flood insurance throughout North Carolina. While Lighthouse will debut in the state with only homeowners and flood, it expects to introduce a dwelling fire product in 2015. …

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Private Equity Firm HGGC Buys Into Florida Non-Standard Auto MGA Pearl Holding http://www.insurancejournal.com/news/southeast/2014/09/08/339894.htm Mon, 08 Sep 2014 16:20:06 +0000 http://www.insurancejournal.com/?p=339894 HGGC, a middle market private equity firm, said it has completed a majority investment in Pearl Holding Group, a managing general agent (MGA) focused on the non-standard auto insurance market in Florida. As part of the transaction, Pearl’s owners, Jared …

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NORCAL Mutual Expands Medical PL Coverage in Kansas, Missouri http://www.insurancejournal.com/news/midwest/2014/09/08/339871.htm Mon, 08 Sep 2014 14:36:22 +0000 http://www.insurancejournal.com/?p=339871 San Francisco-based NORCAL Mutual Insurance Co. is expanding its coverage area to include Kansas and Missouri, offering a new enhanced medical professional liability insurance policy for healthcare professionals. The company’s subsidiary, Medicus Insurance Co., has been offering coverage in these …

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Anchor Insurance to Acquire Southeast Surplus Underwriters and Affiliates http://www.insurancejournal.com/news/southcentral/2014/09/08/339816.htm Mon, 08 Sep 2014 05:59:09 +0000 http://www.insurancejournal.com/?p=339816 Anchor Insurance Holdings is purchasing Beaumont, Texas-based Southeast Surplus Underwriters General Agency, Spindletop Premium Finance, and Ranchers and Farmers Insurance Co. from Mirage Interest Inc., the companies reported. According to information posted on its website, Mirage Interest is a descendant …

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Brightway Insurance Opens Store in Panama City, Florida http://www.insurancejournal.com/news/southeast/2014/09/05/339822.htm Fri, 05 Sep 2014 23:31:11 +0000 http://www.insurancejournal.com/?p=339822 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 …

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Hub International Acquires Canadian Commercial Line Book of Business http://www.insurancejournal.com/news/international/2014/09/05/339727.htm Fri, 05 Sep 2014 10:10:22 +0000 http://www.insurancejournal.com/?p=339727 Hub International Limited announced that its Ontario subsidiary, Hub International Sinclair Cockburn Limited, has acquired a commercial line book of business from independent broker Lisa Cook. Terms of the acquisition were not disclosed. “Cook will join Hub’s Markham, Ontario office …

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U.S. Risk Opens New Office in Fort Worth, Texas http://www.insurancejournal.com/news/southcentral/2014/09/05/339671.htm Fri, 05 Sep 2014 05:17:27 +0000 http://www.insurancejournal.com/?p=339671 Dallas-based managing general agency and surplus lines wholesaler, U.S. Risk Insurance Group Inc., has opened a new office in Fort Worth, Texas. The new office is initially staffed with underwriters from the energy and commercial underwriting divisions of U.S. Risk. …

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