Insurance Journal » Business Moves & Mergers http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 21 Nov 2014 21:37:44 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.2 Aviva in $8.76 Billion Deal to Buy Friends Life after Pensions Shake-up http://www.insurancejournal.com/news/international/2014/11/21/347851.htm Fri, 21 Nov 2014 20:59:35 +0000 http://www.insurancejournal.com/?p=347851 British insurer Aviva said on Friday it had agreed terms on a possible deal to buy rival Friends Life for £5.6 billion [$8.76 billion], as British pension reform puts pressure on insurance companies to find new business. Pension providers are …

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Minnesota’s North Risk Partners Merges with Thune Insurance Network http://www.insurancejournal.com/news/midwest/2014/11/21/347768.htm Fri, 21 Nov 2014 17:38:12 +0000 http://www.insurancejournal.com/?p=347768 St. Paul, Minn.-based independent insurance brokerage, North Risk Partners, announced it has merged with Thune Insurance Network, located in Northwest Minnesota with offices in Thief River Falls, Roseau and Baudette. The merger resulted in North Risk Partners’ growth to more than …

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Arthur J. Gallagher Acquires Iowa-Based Miller-Harrison Insurance Services http://www.insurancejournal.com/news/midwest/2014/11/20/347664.htm Thu, 20 Nov 2014 17:35:58 +0000 http://www.insurancejournal.com/?p=347664 Arthur J. Gallagher & Co. announced it has acquired Miller-Harrison Insurance Services in Muscatine, Iowa. Terms of the transaction were not disclosed. Founded in 1919, Miller-Harrison is a retail insurance broker providing commercial property/casualty, risk management consulting and personal lines insurance …

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LeapFrog Buys Majority Stake in Kenya’s Resolution Insurance http://www.insurancejournal.com/news/international/2014/11/20/347603.htm Thu, 20 Nov 2014 11:03:35 +0000 http://www.insurancejournal.com/?p=347603 LeapFrog Investments, the private equity firm with a focus on Africa and Asia, said it will pay 1.68 billion shillings ($18.6 million) to gain control of Kenya’s Resolution Insurance and tap growth in health coverage. LeapFrog will invest through Resolution …

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AIG Global Real Estate Seeks $450 Million in Sale of South Korean Hotel http://www.insurancejournal.com/news/international/2014/11/19/347465.htm Wed, 19 Nov 2014 09:49:39 +0000 http://www.insurancejournal.com/?p=347465 AIG Global Real Estate, a unit of American International Group Inc., is seeking at least $450 million from the sale of a luxury hotel in the South Korean capital, people with knowledge of the matter said. AIG’s Korean real estate …

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U.K.’s Towergate Bonds Plunge on News of Takeover Bids http://www.insurancejournal.com/news/international/2014/11/19/347463.htm Wed, 19 Nov 2014 09:39:47 +0000 http://www.insurancejournal.com/?p=347463 Towergate Finance plc’s high-yield bonds plunged to a record after Europe’s largest insurance broker said it received takeover offers. The company’s 304.6 million pounds ($475.5 million) of 10.5 percent notes fell 16 pence on the pound to 45 pence, the …

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Integro Adds Aviation Expertise With Dewald and Team in Utah http://www.insurancejournal.com/magazines/features/2014/11/18/347451.htm Tue, 18 Nov 2014 23:34:11 +0000 http://www.insurancejournal.com/?p=347451 Integro announced it’s enhancing its aviation practice with the addition of sector specialist Leslie DeWald as managing principal. DeWald and her team of four will be based in Park City, Utah. They specialize in aviation and aerospace insurance. DeWald previously …

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FBinsure Acquires Gramlich Insurance Agency in Massachusetts http://www.insurancejournal.com/news/east/2014/11/18/347425.htm Tue, 18 Nov 2014 20:12:00 +0000 http://www.insurancejournal.com/?p=347425 FBinsure, an independent insurance agency based in Taunton, Massachusetts, announced its acquisition of Gramlich Insurance Agency, an independent agency in New Bedford, Massachusetts. The terms of the transaction were not disclosed. Ray Gramlich, president of Gramlich Insurance Agency, will be …

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CGSC to Rebrand London Insurance Brokerage Operations for 50th Year http://www.insurancejournal.com/news/international/2014/11/18/347350.htm Tue, 18 Nov 2014 16:27:43 +0000 http://www.insurancejournal.com/?p=347350 Cooper Gay Swett & Crawford (CGSC) has announced the renaming of its London market brokerage businesses in advance of its 50th year of trading. From January 1st, 2015, CGNMB LLP will become the single united brand, combining Lloyd’s brokers Cooper …

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York Risk Services Group Acquires RMPG in New York http://www.insurancejournal.com/news/east/2014/11/17/347261.htm Mon, 17 Nov 2014 17:59:03 +0000 http://www.insurancejournal.com/?p=347261 York Risk Services Group Inc., a Parsippany, New Jersey-based provider of claims management, managed care, risk management and specialized loss adjusting services, has acquired Risk Management Planning Group (RMPG) in Mineola, New York. The terms of the transaction were not …

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Arthur J. Gallagher Acquires The Titan Group in Virginia http://www.insurancejournal.com/news/east/2014/11/14/347113.htm Fri, 14 Nov 2014 17:42:08 +0000 http://www.insurancejournal.com/?p=347113 Arthur J. Gallagher & Co. announced the acquisition of The Titan Group, LLC located in Richmond, Virginia. Terms of the transaction were not disclosed. Founded in 2001, Titan provides human resource consulting services for private, public, nonprofit, education and state …

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Texas Legal Protection Plan Now Known as Texas Legal http://www.insurancejournal.com/news/southcentral/2014/11/13/346999.htm Thu, 13 Nov 2014 17:58:18 +0000 http://www.insurancejournal.com/?p=346999 A Texas company that provides legal insurance for routine needs to unexpected events has changed its name. The company formerly known as Texas Legal Protection Plan has changed its name to Texas Legal. It was founded by the State Bar …

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Texas Agent Group Acquires LevelFirst, Forms IIAT Services MGA http://www.insurancejournal.com/news/southcentral/2014/11/13/346979.htm Thu, 13 Nov 2014 17:03:11 +0000 http://www.insurancejournal.com/?p=346979 The Independent Insurance Agents of Texas (IIAT) announced it is continuing its tradition of providing insurance markets for small independent agencies with the acquisition of Dallas-based managing general agency LevelFirst LLC. Operating as IIAT Services MGA, the new company will expand …

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Hudson Insurance Acquires Surety Partners’ Northeast Operation http://www.insurancejournal.com/news/east/2014/11/13/346663.htm Thu, 13 Nov 2014 11:34:23 +0000 http://www.insurancejournal.com/?p=346663 Hudson Insurance Group has acquired the underwriting operations of Surety Partners of America, Northeast, which is based in Chester, New Jersey. Surety Partners of America, which was formed in 2009, is licensed and operates in 50 states through regional offices …

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C&R Insurance Services in Pennsylvania Announces 2 Acquisitions http://www.insurancejournal.com/news/east/2014/11/12/346868.htm Wed, 12 Nov 2014 22:00:50 +0000 http://www.insurancejournal.com/?p=346868 C&R Insurance Services Inc. in Wayne, Pennsylvania, has acquired Garden State Professional Insurance Agency, a professional liability agency based in Freehold, New Jersey, and its affiliate FLAG Insurance Services. Terms of the transaction were not disclosed. Founded in 1999, Garden …

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Arthur J. Gallagher Acquires Illinois’ The Forker Co. http://www.insurancejournal.com/news/midwest/2014/11/12/346804.htm Wed, 12 Nov 2014 17:31:09 +0000 http://www.insurancejournal.com/?p=346804 Arthur J. Gallagher & Co. has acquired The Forker Company in Arlington Heights, Ill. Terms of the transaction were not disclosed. Established in 2000, The Forker Company (Forker) is a retail insurance agency that offers contract surety solutions to clients throughout the …

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TWFG Insurance Services Expands in Texas, California, and Washington http://www.insurancejournal.com/news/southcentral/2014/11/12/346800.htm Wed, 12 Nov 2014 17:30:09 +0000 http://www.insurancejournal.com/?p=346800 The Woodlands, Texas-based TWFG Insurance Services is expanding with 15 more branch locations in Texas, two additional in California, and another in Washington, the company announced. TWFG Insurance specializes in products and services for homeowners, auto and small business insurance …

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Global Insurers to Bid for Insurance, Pension Units of Halkbank in Turkey http://www.insurancejournal.com/news/international/2014/11/12/346701.htm Wed, 12 Nov 2014 14:56:26 +0000 http://www.insurancejournal.com/?p=346701 Insurers from Europe, Asia and the United States are among some 20 potential bidders in the sale by Turkey’s state-run Halkbank of its pension and insurance arms, three sources close to the process said on Wednesday. Halkbank said in July …

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Taiwan’s Cathay Life Acquires Asset Manager, Research Firm Conning http://www.insurancejournal.com/news/national/2014/11/12/346691.htm Wed, 12 Nov 2014 14:37:28 +0000 http://www.insurancejournal.com/?p=346691 Cathay Life Insurance Co. of Taiwan has acquired insurance industry investment and asset manager and research firm Conning Holdings Corp. of Hartford, Conn. and all of its subsidiaries. Under the terms of the agreement, Cathay Life will purchase Conning for …

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Arthur J. Gallagher Acquires SGB-NIA Insurance Brokers in California http://www.insurancejournal.com/news/west/2014/11/10/346412.htm Mon, 10 Nov 2014 19:47:49 +0000 http://www.insurancejournal.com/?p=346412 Arthur J. Gallagher & Co. has acquired SGB-NIA Insurance Brokers headquartered in Woodland Hills, Calif. Terms of the deal were not disclosed. SGB-NIA provides retail property/casualty, risk management and employee benefits insurance products and consulting services to commercial and individual …

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Kiln, Tokio Marine Europe Rebrand as Tokio Marine Kiln http://www.insurancejournal.com/news/international/2014/11/10/346399.htm Mon, 10 Nov 2014 17:22:04 +0000 http://www.insurancejournal.com/?p=346399 Kiln and Tokio Marine Europe announced that they have “sealed their union today by formally rebranding as Tokio Marine Kiln,” concentrating on international specialist and corporate insurance. The newly combined business, formed in January this year, is now headquartered at …

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Aetna to Establish Captive Insurance Company in Connecticut http://www.insurancejournal.com/news/east/2014/11/10/346361.htm Mon, 10 Nov 2014 15:27:55 +0000 http://www.insurancejournal.com/?p=346361 Connecticut Gov. Dannel P. Malloy announced last week that Hartford, Connecticut-based health insurer Aetna is establishing its captive insurance company in its home state, becoming the state’s fifth licensed and largest captive insurer to date. Aetna’s captive, the Aetna Risk …

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Hub International Acquires Fotek Insurance Agency in New Jersey http://www.insurancejournal.com/news/east/2014/11/07/346230.htm Fri, 07 Nov 2014 16:58:31 +0000 http://www.insurancejournal.com/?p=346230 Hub International Limited announced that its subsidiary Hub International Northeast Limited has acquired the stock of Fotek Insurance Agency Inc., a New Jersey-based employee benefits brokerage. Terms of the acquisition were not disclosed. The Fotek operations will remain in Wall, …

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CBIZ Acquires Weekes & Callaway in Florida http://www.insurancejournal.com/news/southeast/2014/11/07/346226.htm Fri, 07 Nov 2014 16:49:47 +0000 http://www.insurancejournal.com/?p=346226 CBIZ Inc. in Cleveland, Ohio, has acquired Weekes & Callaway Inc. (W&C), an independent insurance agency based in Delray Beach, Florida, effective Nov. 1, 2014. Financial terms were not disclosed. Founded in 1954, W&C offers insurance products and services including …

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AIG to Close Georgia Shared Service Center; Closure to Affect 420 Workers http://www.insurancejournal.com/news/southeast/2014/11/07/346214.htm Fri, 07 Nov 2014 16:32:36 +0000 http://www.insurancejournal.com/?p=346214 American International Group Inc. said the company plans to close its Shared Service Center located in Alpharetta, Georgia next year. The move is expected to affect approximately 420 employees, AIG told Insurance Journal. “The closure of the Shared Service Center …

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Marsh & McLennan Acquires Nuwest Insurance Services in California http://www.insurancejournal.com/news/west/2014/11/07/346212.htm Fri, 07 Nov 2014 15:59:25 +0000 http://www.insurancejournal.com/?p=346212 Marsh & McLennan Agency LLC has acquired NuWest Insurance Services Inc., an Irvine, Calif.-based property/casualty agency. NuWest generates roughly $2.4 million in revenue and specializes in providing P/C insurance solutions for multi-employer trust funds and employee unions. NuWest will be …

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Insurer James River Group Files for IPO http://www.insurancejournal.com/news/international/2014/11/07/346205.htm Fri, 07 Nov 2014 13:39:21 +0000 http://www.insurancejournal.com/?p=346205 James River Group Holdings Ltd, a Bermuda-based insurance holding company, filed for an initial public offering of common shares that would raise up to $288 million. Hedge fund D.E. Shaw & Co LP’s affiliates own 72.6 percent of the insurer’s …

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Arthur J. Gallagher Acquires Discovery Benefit Solutions in California http://www.insurancejournal.com/news/west/2014/11/06/346177.htm Thu, 06 Nov 2014 20:35:00 +0000 http://www.insurancejournal.com/?p=346177 Arthur J. Gallagher & Co. has acquired Discovery Benefit Solutions Inc. in San Diego, Calif. Terms of the deal were not disclosed. Discovery Benefit Solutions provides employee benefit consultation, management and brokerage services for group and individual clients throughout the …

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Technology Firm iPipeline Weghing IPO; $500 Million Value Possible http://www.insurancejournal.com/news/national/2014/11/06/346095.htm Thu, 06 Nov 2014 08:14:40 +0000 http://www.insurancejournal.com/?p=346095 Internet Pipeline Inc., which makes technology used by insurance companies to manage customers, data and pricing, is exploring a sale or initial public offering, people with knowledge of the matter said. The company, which does business as iPipeline, could be …

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Florida’s Edison Insurance Reborn with New Management http://www.insurancejournal.com/news/southeast/2014/11/06/346087.htm Thu, 06 Nov 2014 08:09:39 +0000 http://www.insurancejournal.com/?p=346087 Florida homeowners’ insurers Edison Insurance Co. is being relaunched with new management and coverage options almost five years after its business was taken over by another insurer. The company said it plans to begin offering homeowners’ and condominium unit owner …

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