Insurance Journal » Business Moves & Mergers http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 30 Jan 2015 16:57:34 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.2 ISU Cormarc Tasman in California Formed with Merger http://www.insurancejournal.com/news/west/2015/01/29/355922.htm Thu, 29 Jan 2015 21:29:37 +0000 http://www.insurancejournal.com/?p=355922 ISU Cormarc Tasman Insurance Agency was recently formed by combining ISU Cormarc Insurance Services headquartered in Murrieta, Calif. with ISU Insurance Services Tasman in Ladera Ranch. The headquarters for the new agency will be in Murrieta. The office will serve both …

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Willis, Clark Thomson in Commercial Network Tie; SME Transfer http://www.insurancejournal.com/news/international/2015/01/29/355799.htm Thu, 29 Jan 2015 14:02:37 +0000 http://www.insurancejournal.com/?p=355799 Willis Group Holdings announced that Scottish independent broker, Clark Thomson Insurance Brokers Ltd (CTIB), has agreed to join Willis Commercial Network (WCN) in a deal that includes the purchase of Willis’s Commercial business unit in Scotland, which focuses on small …

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United Insurance Acquires Shiretown Agency in Maine http://www.insurancejournal.com/news/east/2015/01/28/355747.htm Wed, 28 Jan 2015 22:24:06 +0000 http://www.insurancejournal.com/?p=355747 United Insurance, an independent insurance agency headquartered in Falmouth, Maine, announced the acquisition of the Shiretown Agency in Farmington, Maine. Terms of the transaction were not disclosed. United Insurance has 16 Maine locations and one in Rochester, New Hampshire. The …

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Berkshire’s Commercial Insurer Hires AIG, Chubb Execs to Enter Canada Market http://www.insurancejournal.com/news/international/2015/01/28/355717.htm Wed, 28 Jan 2015 17:39:47 +0000 http://www.insurancejournal.com/?p=355717 Berkshire Hathaway Inc.’s commercial insurance unit is expanding into Canada as it seeks to win over new clients by offering bigger coverage limits than competitors. The unit, Berkshire Hathaway Specialty Insurance, said it hired Darryl DeSouza from American International Group …

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Enstar Completes Acquisition of South Carolina-based Companion http://www.insurancejournal.com/news/southeast/2015/01/28/355696.htm Wed, 28 Jan 2015 16:17:36 +0000 http://www.insurancejournal.com/?p=355696 A wholly owned subsidiariy of Enstar Group Ltd. has completed its acquisition of Companion Property and Casualty Insurance Co. from Blue Cross and Blue Shield of South Carolina. Companion is a South Carolina-based insurance group writing property, casualty, specialty and …

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CIA-Leavitt Acquires Colorado Springs Accounts From Brown and Brown http://www.insurancejournal.com/news/west/2015/01/27/355607.htm Tue, 27 Jan 2015 21:42:08 +0000 http://www.insurancejournal.com/?p=355607 CIA-Leavitt Insurance Agency has acquired the Colorado Springs, Colo. clients from Brown & Brown Insurance, which closed its local office. This change will not affect current policies, and to help ease the transition Karen Beitz from Brown & Brown has …

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Smart Insurance Solutions in Montana Merges With Leavitt Great West http://www.insurancejournal.com/news/west/2015/01/27/355605.htm Tue, 27 Jan 2015 21:41:12 +0000 http://www.insurancejournal.com/?p=355605 Smart Insurance Solutions in Kalispell, Mont. has merged with Leavitt Great West Insurance Services. Terms of the deal were not disclosed. The merger expands the Leavitt Group’s footprint in Montana. Leavitt Group’s Great West offices were formed when Taylor-Leavitt Insurance …

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Lawley Expands Into Connecticut With Merger of DFM Insurance http://www.insurancejournal.com/news/east/2015/01/27/355585.htm Tue, 27 Jan 2015 20:26:15 +0000 http://www.insurancejournal.com/?p=355585 Lawley Insurance, an independent insurance agency headquartered in Buffalo, New York, will expand into Connecticut through a merger with DFM Insurance Inc. based in Darien, Connecticut. Terms of the transaction were not disclosed. DFM Insurance will formally be known as …

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Clark Insurance Acquires James L. Cooney Agency in Massachusetts http://www.insurancejournal.com/news/east/2015/01/27/355568.htm Tue, 27 Jan 2015 19:17:46 +0000 http://www.insurancejournal.com/?p=355568 Clark Insurance, an employee-owned independent insurance agency with offices in Maine and New Hampshire, has acquired the James L. Cooney Insurance Agency of Lowell, Massachusetts. Terms of the transaction were not disclosed. The James L. Cooney Insurance Agency began business …

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AXIS Says Debt-Free Merger With PartnerRe Paves Way for More Deals http://www.insurancejournal.com/news/international/2015/01/27/355549.htm Tue, 27 Jan 2015 17:01:00 +0000 http://www.insurancejournal.com/?p=355549 The creation of one of the world’s largest reinsurers in an all-stock merger paves the way for more deals. AXIS Capital Holdings Ltd. and PartnerRe Ltd.’s combination without taking on debt will leave the new firm with ample capacity to …

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Old Mutual Spends More Than Half of Africa War Chest on UAP Stake in Kenya http://www.insurancejournal.com/news/international/2015/01/26/355362.htm Mon, 26 Jan 2015 15:57:38 +0000 http://www.insurancejournal.com/?p=355362 Old Mutual plc, which earmarked 4.3 billion rand ($374 million) for acquisitions in Africa, increased its stake in Kenya’s UAP Holdings Ltd., meaning that the insurer has now spent more than half of that war chest. Old Mutual, which is …

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AXIS to Merge with PartnerRe to Create $11 Billion Reinsurer http://www.insurancejournal.com/news/international/2015/01/26/355315.htm Mon, 26 Jan 2015 10:06:39 +0000 http://www.insurancejournal.com/?p=355315 AXIS Capital Holdings Ltd. agreed to merge with PartnerRe Ltd., combining two Bermuda-based reinsurers with a total market value of almost $11 billion amid accelerating consolidation in the industry. PartnerRe shareholders will own 51.6 percent of the new company after …

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So. Africa’s Liberty May Complete Nigerian Insurance Deal by End of January http://www.insurancejournal.com/news/international/2015/01/22/354870.htm Thu, 22 Jan 2015 13:40:42 +0000 http://www.insurancejournal.com/?p=354870 Liberty Holdings Ltd., the South African insurer controlled by Standard Bank Group Ltd., said it may conclude a deal in Nigeria by the end of January. “We have an opportunity we hope to conclude at the end of the month,” …

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Willis to Acquire Majority Stake in Miller in Ship-Insurance Wager http://www.insurancejournal.com/news/international/2015/01/22/354858.htm Thu, 22 Jan 2015 13:32:31 +0000 http://www.insurancejournal.com/?p=354858 Willis Group Holdings Plc, the third-largest insurance broker by market value, has agreed to take a majority stake in Miller Insurance Services LLP to add shipping clients. Willis will take an 85 percent stake, and partners of Miller will retain …

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Third Point Re Picks Short Hills, N.J., as U.S. Subsidiary Location http://www.insurancejournal.com/news/east/2015/01/21/354770.htm Wed, 21 Jan 2015 20:17:33 +0000 http://www.insurancejournal.com/?p=354770 Third Point Reinsurance Ltd., the Bermuda-based company co-founded by hedge-fund manager Dan Loeb, has picked Short Hills, New Jersey, as the location for a new U.S. subsidiary. Shane Haverstick, senior vice president of operations, said he’s moving to the new …

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NFP Acquires Michelsen Benefits in North Carolina http://www.insurancejournal.com/news/southeast/2015/01/21/354467.htm Wed, 21 Jan 2015 10:00:23 +0000 http://www.insurancejournal.com/?p=354467 New York-based insurance brokerage and consultant NFP has expanded its corporate benefits practice with the acquisition of Charlotte, N.C.-based Michelsen Benefits Group Inc., or The Michelsen Group (TMG). The transaction closed November 1, 2014. TMG specializes in consulting services to …

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AssuredPartners Acquires Omni Risk Management, Omni Benefits in N.Y. http://www.insurancejournal.com/news/east/2015/01/20/354539.htm Wed, 21 Jan 2015 02:47:27 +0000 http://www.insurancejournal.com/?p=354539 AssuredPartners Inc. has acquired Omni Risk Management and Omni Benefits in Smithtown, New York. The firm specializes in coverage for commercial insurance with a specialty in construction coverage, surety bonding, personal insurance, as well as life and health insurance products. …

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Associated Banc-Corp to Acquire Ahmann & Martin in Minnesota http://www.insurancejournal.com/news/midwest/2015/01/20/354556.htm Wed, 21 Jan 2015 00:21:07 +0000 http://www.insurancejournal.com/?p=354556 Associated Banc-Corp (Associated) announced it has entered into an agreement to acquire Ahmann & Martin Co., a risk and benefits consulting firm in Minnesota, through Associated’s subsidiary, Associated Financial Group. The transaction is expected to close in February. Associated Financial Group …

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Florida’s Gardner Group Merges with Hylant http://www.insurancejournal.com/news/southeast/2015/01/20/354435.htm Tue, 20 Jan 2015 15:40:46 +0000 http://www.insurancejournal.com/?p=354435 Hylant, one of the largest privately-owned insurance brokers in the nation, said that The Gardner Group, an independent employee benefits agency based in Neptune Beach, Fla., will be merging into its Jacksonville operations. The newly-merged operation will led by industry …

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Aon Benfield Acquires Portfolio of Swiss Specialist Broker Sipex http://www.insurancejournal.com/news/international/2015/01/20/354433.htm Tue, 20 Jan 2015 15:21:50 +0000 http://www.insurancejournal.com/?p=354433 Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, announced that it has acquired the entire portfolio of in-force business of Sipex Insurance and Reinsurance Brokers SA, an insurance and reinsurance broker based in Switzerland, which specializes …

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QBE Selling U.S. Agency Businesses to Alliant for $300M http://www.insurancejournal.com/news/national/2015/01/19/354368.htm Tue, 20 Jan 2015 02:23:24 +0000 http://www.insurancejournal.com/?p=354368 QBE Insurance Group Ltd. of Australia is selling its U.S. agency businesses to California-based Alliant Services Inc. for about $300 million and exiting the distribution business. The agencies being bought by Alliant include Community Association Underwriters (CAU), Deep South Insurance …

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U.K.’s RSA Considers Sale of Middle East Business http://www.insurancejournal.com/news/international/2015/01/16/354284.htm Fri, 16 Jan 2015 14:31:28 +0000 http://www.insurancejournal.com/?p=354284 RSA Insurance Group plc is considering the sale of its Middle Eastern business as the U.K. insurer seeks to raise capital, people with knowledge of the matter said. RSA, whose operations span Europe, Asia, Latin America and Canada, is working …

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AXA ART Announces New Global Organizational Structure http://www.insurancejournal.com/news/international/2015/01/16/354282.htm Fri, 16 Jan 2015 14:18:21 +0000 http://www.insurancejournal.com/?p=354282 As part of its ongoing efforts to expand into new markets and bolster effective delivery of innovative product and service offerings to clients around the world, AXA ART announced it has structured its global operating presence into four regions: South-West …

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Ohio’s Smith Insurance Services Partners with the Leavitt Group http://www.insurancejournal.com/news/midwest/2015/01/15/354244.htm Fri, 16 Jan 2015 02:56:24 +0000 http://www.insurancejournal.com/?p=354244 Ohio-based Smith Insurance Services Inc., along with Franchise Insurance Agency Inc., has entered into a partnership with the Leavitt Group. The agency will now be doing business as Smith & Leavitt Insurance Services and will continue to exclusively offer personal …

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Norton Insurance Agency Acquires Brennan Insurance in Maine http://www.insurancejournal.com/news/east/2015/01/15/354165.htm Thu, 15 Jan 2015 18:41:04 +0000 http://www.insurancejournal.com/?p=354165 Norton Insurance Agency, a division of Norton Insurance Financial in Cumberland, Maine, announced that it has acquired the Brennan Insurance Agency of Winthrop, Maine. Terms of the transaction were not disclosed. Norton Insurance Agency said it has made a strategic …

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West Virginia’s City National Bank Sells Insurance Operations http://www.insurancejournal.com/news/southeast/2015/01/15/354116.htm Thu, 15 Jan 2015 13:50:40 +0000 http://www.insurancejournal.com/?p=354116 City National Bank, headquartered in Charleston, W. Va., has sold its insurance operations, CityInsurance, to Richmond, Va.-based The Hilb Group. City National’s parent, City Holding Co., said the sale was effective Jan. 1. Under the agreement, James Myers will remain …

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ICA Bank to Write Non-Life Business in Sweden via New Subsidiary http://www.insurancejournal.com/news/international/2015/01/15/354121.htm Thu, 15 Jan 2015 10:37:44 +0000 http://www.insurancejournal.com/?p=354121 ICA Bank has received permission to conduct insurance business from the Swedish Financial Supervisory Authority. ICA Försäkring AB, a newly formed subsidiary with its own management and board, will offer non-life insurance to its customers at the end of 2015. …

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Kaufman Financial Acquires Canadian MGA Avec Insurance Managers http://www.insurancejournal.com/news/international/2015/01/13/353919.htm Tue, 13 Jan 2015 17:29:01 +0000 http://www.insurancejournal.com/?p=353919 Burns & Wilcox Canada, a subsidiary of Kaufman Financial Group, announced it has acquired Avec Insurance Managers, a Toronto-based managing general agent with expertise in marine, inland marine and other specialty commercial lines. Avec will become part of Burns & …

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Northwest Savings Bank Acquires B.J. Petruso Agency in Penn. http://www.insurancejournal.com/news/east/2015/01/13/353918.htm Tue, 13 Jan 2015 17:23:49 +0000 http://www.insurancejournal.com/?p=353918 Northwest Savings Bank in Warren, Pennsylvania, announced the acquisition of B.J. Petruso Agency, a property/casualty and life insurance agency located in Meadville, Pennsylvania. Terms of the transaction were not disclosed. B.J. Petruso Agency offers personal and business insurance services for …

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Arnold K. Davis Insurance Merges With Eifert, French & Ketchum in New York http://www.insurancejournal.com/news/east/2015/01/12/353779.htm Tue, 13 Jan 2015 00:18:25 +0000 http://www.insurancejournal.com/?p=353779 Arnold K. Davis Insurance, an independent agency in Purchase, New York, has recently merged with Eifert, French & Ketchum, an independent insurance and risk management agency based in Pelham, New York. Arnold K. Davis Insurance will continue to operate as …

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