Insurance Journal » Business Moves & Mergers http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Wed, 16 Apr 2014 10:36:07 +0000 en-US hourly 1 http://wordpress.org/?v=3.8.2 Travelers CEO Fishman Eyes Potential Foreign Acquisitions http://www.insurancejournal.com/news/national/2014/04/14/326195.htm Mon, 14 Apr 2014 16:32:20 +0000 http://www.insurancejournal.com/?p=326195 Travelers Companies, which acquired Dominion of Canada General Insurance in 2013 and increased its ownership stake in its joint venture in Brazil in 2012, is likely to continue expanding internationally. In his annual letter to shareholders, Travelers CEO Jay Fishman …

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Aspen Rejects Endurance’s $3.2B Hostile Acquisition Bid As ‘Ill-Conceived’ http://www.insurancejournal.com/news/international/2014/04/14/326178.htm Mon, 14 Apr 2014 13:56:41 +0000 http://www.insurancejournal.com/?p=326178 Bermuda-based Endurance Specialty Holdings Ltd. today offered to buy Aspen Insurance Holdings Limited, also based in Bermuda, for $3.2 billion, or $47.50 per Aspen share, in a hostile takeover. The combined company would have more than $5 billion of combined …

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N.J.’s Consolidated Insurance Agents Changes Name to ANE, Eyes Expansion http://www.insurancejournal.com/news/east/2014/04/10/326013.htm Thu, 10 Apr 2014 18:09:25 +0000 http://www.insurancejournal.com/?p=326013 Consolidated Insurance Agents, a network of independent insurance agencies in New Jersey, is changing its name to ANE, Agency Network Exchange. It also unveiled a plan to add resources and staff to expand its network of more than 40 independent …

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Cross Insurance Acquires Troy, Pires & Allen Insurance in Rhode Island http://www.insurancejournal.com/news/east/2014/04/09/325883.htm Wed, 09 Apr 2014 16:55:46 +0000 http://www.insurancejournal.com/?p=325883 Cross Insurance, a subsidiary of Cross Financial Corp. in Bangor, Maine, announced its acquisition of Troy, Pires & Allen Insurance, a 78-year-old insurance agency based in East Providence, R.I. Terms of the transaction were not disclosed. Troy, Pires & Allen …

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AssuredPartners Acquires MHB Insurance in New York http://www.insurancejournal.com/news/east/2014/04/07/325697.htm Mon, 07 Apr 2014 16:59:30 +0000 http://www.insurancejournal.com/?p=325697 Lake Mary, Fla.-based AssuredPartners Inc., through its subsidiary Assured SKCG, recently acquired MHB Insurance, located in Peekskill, N.Y. Terms of the transaction were not disclosed. Founded in 1919, MHB Insurance specializes in insurance for businesses, municipalities and individuals, and provides …

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Arthur J. Gallagher to Buy Australian Wesfarmers’ Insurance Brokerage http://www.insurancejournal.com/news/international/2014/04/06/325590.htm Mon, 07 Apr 2014 02:46:23 +0000 http://www.insurancejournal.com/?p=325590 Perth, Australia-based conglomerate Wesfarmers has agreed to sell the insurance brokerage and premium funding operations of its Insurance division to subsidiaries of U.S.-based broker Arthur J. Gallagher & Co. for A$1,010 million (about U.S. $933 million). In addition to the …

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Confie Head Eyes Commercial Acquisitions for Rest of 2014 http://www.insurancejournal.com/news/west/2014/04/04/325581.htm Fri, 04 Apr 2014 22:27:20 +0000 http://www.insurancejournal.com/?p=325581 Confie Seguros’ president wants it known that the agency made good on its promise a year-and-a-half ago to up its buying spree and expand into standard personal and small commercial lines, all while broadening its demographic from being primarily a …

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Arthur J. Gallagher Buys New Zealand’s Mike Henry Brokers http://www.insurancejournal.com/news/international/2014/04/04/325464.htm Fri, 04 Apr 2014 13:47:10 +0000 http://www.insurancejournal.com/?p=325464 Arthur J. Gallagher & Co. has acquired Mike Henry Insurance Brokers Limited (MHIB), headquartered in Auckland, New Zealand. MHIB has annualized revenues of approximately $4.5 million and 30 staff operating from its offices in Auckland and Christchurch, according to the …

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Marsh & McLennan Agency Acquires South Carolina’s Capstone http://www.insurancejournal.com/news/southeast/2014/04/04/325461.htm Fri, 04 Apr 2014 13:36:18 +0000 http://www.insurancejournal.com/?p=325461 Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh LLC, ] has acquired Capstone Insurance Services LLC, a $1.8 million revenue agency located in Greenville, South Carolina. Terms of the transaction were not disclosed. Founded in 1995, …

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Selective Sells Renewals on Self-Insured Public Entity Book to Great American http://www.insurancejournal.com/news/national/2014/04/04/325443.htm Fri, 04 Apr 2014 12:57:31 +0000 http://www.insurancejournal.com/?p=325443 Great American Insurance Group has completed a renewal rights agreement with Selective Insurance Co. of America to acquire Selective’s Self-Insured Group book of business. The business, amounting to $38 million in gross written premium in-force, relates to direct excess policies …

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Energi Opens Office in Chicago Area http://www.insurancejournal.com/news/midwest/2014/04/03/325438.htm Thu, 03 Apr 2014 22:59:02 +0000 http://www.insurancejournal.com/?p=325438 Energi, a provider of risk management and insurance programs for the energy industry, has opened an office in Downers Grove, Ill. The new office, located at the Esplanade I, will provide operational support for Energi’s Midwest risk mitigation and insurance …

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The Leavitt Group Creates Leavitt Heartland Insurance Services http://www.insurancejournal.com/news/midwest/2014/04/03/325435.htm Thu, 03 Apr 2014 22:55:21 +0000 http://www.insurancejournal.com/?p=325435 The Leavitt Group’s Spearfish and Sturgis, S.D. offices, formerly part of Western Dakota Insurors, are forming a new agency called Leavitt Heartland Insurance Services, which will remain part of the Leavitt Group. All personnel will remain with the agency and …

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The Leavitt Group Opens New Office in Houston http://www.insurancejournal.com/news/southcentral/2014/04/03/325400.htm Thu, 03 Apr 2014 16:33:22 +0000 http://www.insurancejournal.com/?p=325400 The Leavitt Group has opened a new office, Risk Services – Leavitt Insurance Agencies, in Houston. The agency will be co-managed/owned by Vladimir Chemadurov and Rob Eppers. In the South Central region, Utah-based Leavitt Group also has existing offices in …

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PSA Insurance & Financial Services Acquires Councill in Maryland http://www.insurancejournal.com/news/east/2014/04/03/325369.htm Thu, 03 Apr 2014 16:30:12 +0000 http://www.insurancejournal.com/?p=325369 PSA Insurance & Financial Services in Hunt Valley, Md., acquired Councill, a Towson, Md.-based firm offering insurance products, third-party administration and risk management services for nursing homes, assisted living and independent living facilities. The terms of the transactions were not …

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Woodruff-Sawyer Opens Denver Office http://www.insurancejournal.com/news/west/2014/04/03/325377.htm Thu, 03 Apr 2014 15:23:12 +0000 http://www.insurancejournal.com/?p=325377 Woodruff-Sawyer & Co. has launched a Denver, Colo. office, Woodruff-Sawyer Colorado. The office will be headed by Gordon Zellers, the Colorado practice leader. Zellers will focus on client relationship management and business development as he works to build Woodruff-Sawyer’s presence …

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Hilltop Holdings Inc. to Acquire SWS Group http://www.insurancejournal.com/news/southcentral/2014/04/02/325337.htm Wed, 02 Apr 2014 23:50:31 +0000 http://www.insurancejournal.com/?p=325337 Hilltop Holdings Inc., a Dallas-based financial holding company with interests in financial services and insurance operations, announced an agreement to acquire SWS Group Inc., a holding company that provides investment and financial services through subsidiaries. SWS Group is also headquartered …

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Hudson Acquires Trucking Program Manager, Motor Transport Underwriters http://www.insurancejournal.com/news/national/2014/04/02/325108.htm Wed, 02 Apr 2014 14:07:13 +0000 http://www.insurancejournal.com/?p=325108 Hudson Insurance Group has acquired Motor Transport Underwriters Inc. (MTU), an underwriting, claims and risk management specialist in the long-haul trucking arena with which Hudson does business. The announcement said MTU will continue to be led by Greg Bonnell and …

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Johnson & Johnson Acquires Midwest’s Stateside Underwriting http://www.insurancejournal.com/news/midwest/2014/04/01/325017.htm Tue, 01 Apr 2014 19:20:15 +0000 http://www.insurancejournal.com/?p=325017 Charleston, South Carolina’s Johnson & Johnson has acquired Stateside Underwriting Agency Inc. (SUA) in Crystal Lake, Illinois, and Chagrin Falls, Ohio. SUA will continue to operate under the leadership of Richard Nowell and Chad Gaizutis, according to Johnson & Johnson …

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Conning to Acquire Brookfield’s Insurance Asset Management Business http://www.insurancejournal.com/news/national/2014/03/31/324832.htm Mon, 31 Mar 2014 15:55:32 +0000 http://www.insurancejournal.com/?p=324832 Hartford-based  insurance asset management firm Conning, Inc. said it has agreed to acquire certain assets of Brookfield Investment Management Inc.’s core fixed income insurance. The investment team currently managing these assets will join Conning in a newly formed Manhattan investment …

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Catalina Completes Alea Group Holdings (Bermuda) Acquisition http://www.insurancejournal.com/news/international/2014/03/31/324793.htm Mon, 31 Mar 2014 10:13:34 +0000 http://www.insurancejournal.com/?p=324793 Catalina Holdings (Bermuda) Ltd. Has announced that following receipt of regulatory approvals from the Bermuda Monetary Authority and the New York Department of Financial Services it has today completed its acquisition of Alea Group Holdings (Bermuda) Ltd. from FIN Acquisition …

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144-Year-Old Indiana Insurance Firm Rebrands as INGUARD http://www.insurancejournal.com/news/midwest/2014/03/27/324615.htm Thu, 27 Mar 2014 16:42:04 +0000 http://www.insurancejournal.com/?p=324615 Beauchamp McSpadden | Morrison Galliher, an independent insurance firm headquartered in Wabash, Ind., is rebranding of the company under the name, INGUARD. All relationships will consolidate under the new name, logo and website, www.INGUARD.com, to create cohesiveness and clarity for …

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BB&T to Acquire Woodbury & Co. in Carolinas http://www.insurancejournal.com/news/southeast/2014/03/27/324579.htm Thu, 27 Mar 2014 16:06:32 +0000 http://www.insurancejournal.com/?p=324579 BB&T Insurance Services said it will acquire  Woodbury & Co. of Wilmington, N.C., and Myrtle Beach, S.C. Woodbury & Co. sells commercial property/casualty; employee benefits; individual life and health; personal lines; and professional liability throughout the Carolinas. The agency has …

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Insurance Executives See Jump in Acquisitions Ahead http://www.insurancejournal.com/news/national/2014/03/27/324567.htm Thu, 27 Mar 2014 14:57:12 +0000 http://www.insurancejournal.com/?p=324567 After a slowdown following the 2008 financial crisis, the volume of insurance mergers and acquisitions should increase over the next one to three years, according to North American insurance executives. A sizable 86 percent of those executives participating in a …

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Catalina Holdings to Acquire SPARTA Insurance in Connecticut http://www.insurancejournal.com/news/east/2014/03/26/324468.htm Wed, 26 Mar 2014 16:04:28 +0000 http://www.insurancejournal.com/?p=324468 Catalina Holdings Ltd., a Bermuda-based consolidator in the non-life run-off sector, announced it has agreed to acquire SPARTA Insurance Holdings, a property/casualty underwriting company in Hartford, Conn. Following the closing of the transaction, Catalina plans to place some of SPARTA’s …

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CoreLogic in California Acquires Marshall & Swift/Boeckh and DataQuick http://www.insurancejournal.com/news/west/2014/03/25/324408.htm Tue, 25 Mar 2014 20:50:08 +0000 http://www.insurancejournal.com/?p=324408 CoreLogic closed its acquisition of Marshall & Swift/Boeckh and DataQuick Information Systems, a property data and analytics information company. The acquisition also included the credit and flood services operations of DataQuick Lending Solutions from the Decision Insight Information Group. MSB …

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Arthur J. Gallagher Acquires Spataro Insurance Agency in New York http://www.insurancejournal.com/news/east/2014/03/24/324310.htm Tue, 25 Mar 2014 03:14:13 +0000 http://www.insurancejournal.com/?p=324310 Arthur J. Gallagher & Co. announced that it has acquired Spataro Insurance Agency Inc. located in Burnt Hills, New York. Terms of the transaction were not disclosed. Founded in 1932, Spataro Insurance Agency is a retail insurance broker providing property/casualty, …

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Aronson Insurance Acquires Shuffain Insurance Agency in Massachusetts http://www.insurancejournal.com/news/east/2014/03/24/324306.htm Tue, 25 Mar 2014 02:59:27 +0000 http://www.insurancejournal.com/?p=324306 Aronson Insurance, an independent insurance agency in the suburban Boston area of Needham, Mass., has acquired Shuffain Insurance Agency of Sharon, Mass. Aronson Insurance is an independent insurance agency owned and operated by the Aronson family since 1919. The agency …

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Biglari Holdings Acquires First Guard Insurance in Florida http://www.insurancejournal.com/news/southeast/2014/03/24/324190.htm Mon, 24 Mar 2014 15:29:14 +0000 http://www.insurancejournal.com/?p=324190 Biglari Holdings in San Antonio, Texas, last week announced its acquisition of Venice, Florida-based First Guard Insurance Co. and its affiliate, 1st Guard Corp. The terms of the transaction were not disclosed. First Guard Insurance, licensed in 28 states, is …

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Engle Martin Acquires Florida’s Totura & Co. Claims Firm http://www.insurancejournal.com/news/southeast/2014/03/20/323792.htm Thu, 20 Mar 2014 14:45:46 +0000 http://www.insurancejournal.com/?p=323792 Atlanta-based independent claims adjusting firm Engle Martin & Associates Inc. has acquired Totura & Co., a regional claims adjusting firm based in Fort Lauderdale, Florida. Terms were not disclosed. John Quinn, president and CEO of Engle Martin said the deal …

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Willis Opens Representative Office in Myanmar http://www.insurancejournal.com/news/international/2014/03/20/323764.htm Thu, 20 Mar 2014 11:01:33 +0000 http://www.insurancejournal.com/?p=323764 Willis Group Holdings plc announced that it has opened a representative office in Myanmar that signals its commitment to the country’s growing insurance industry. Willis said the “office in Yangon will support Willis’s multinational and Asian client base, and also …

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