Insurance Journal » Business Moves & Mergers http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 22 Aug 2014 21:38:45 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.2 NFP Acquires Cincinnati, Ohio-Based Benefit Resources http://www.insurancejournal.com/news/midwest/2014/08/22/338426.htm Fri, 22 Aug 2014 16:38:29 +0000 http://www.insurancejournal.com/?p=338426 National Financial Partners Corp. (NFP), a provider of benefits, property/casualty and life insurance, and wealth management services, announced it has acquired Benefit Resources Inc., a Cincinnati-based insurance consulting and brokerage firm that has been a member of NFP’s Benefits Partners …

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Allied World to Acquire RSA’s Hong Kong, Singapore Operations http://www.insurancejournal.com/news/international/2014/08/22/338380.htm Fri, 22 Aug 2014 10:11:08 +0000 http://www.insurancejournal.com/?p=338380 Allied World Assurance Company Holdings, AG announced that one of its operating units, Allied World Assurance Company, Ltd. has reached definitive agreements to acquire the Hong Kong and Singapore operations of Royal & Sun Alliance Insurance plc (RSA) for approximately …

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A.P. Michaud Acquires Nancy Greenwood Agency in Massachusetts http://www.insurancejournal.com/news/east/2014/08/20/338215.htm Wed, 20 Aug 2014 16:26:51 +0000 http://www.insurancejournal.com/?p=338215 A.P. Michaud Insurance Agency Inc., an independent insurance agency in Methuen, Massachusetts, announced the acquisition of Nancy Greenwood Insurance Agency, also based in Methuen. Terms of the transaction were not disclosed. All current clients of Nancy Greenwood Insurance Agency will …

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NFP Acquires 2 Agencies in New England http://www.insurancejournal.com/news/east/2014/08/19/338141.htm Tue, 19 Aug 2014 20:37:39 +0000 http://www.insurancejournal.com/?p=338141 National Financial Partners Corp. (NFP) announced the acquisitions of two independent insurance agencies in New England: Poulos Insurance Inc. and Altus Specialty Group LLC. Terms were not disclosed. NFP said the acquisitions would help expand NFP’s property/casualty offerings. Poulos Insurance, …

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Fosun Said to Pursue Deal for Swiss Re’s Aurora in the U.S. http://www.insurancejournal.com/news/international/2014/08/19/338054.htm Tue, 19 Aug 2014 12:23:15 +0000 http://www.insurancejournal.com/?p=338054 Fosun International Ltd., the investment arm of China’s biggest closely held conglomerate, is in talks to acquire a U.S. life insurance arm of Swiss Re Ltd., people with knowledge of the matter said. Fosun is seeking to buy Aurora National …

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China Investment Firm Fosun Buying Stake In Ironshore http://www.insurancejournal.com/news/international/2014/08/18/337904.htm Mon, 18 Aug 2014 20:00:57 +0000 http://www.insurancejournal.com/?p=337904 An investment group from China will buy a big stake in in Ironshore Inc., a billion-dollar insurance holding company led by former AIG executives that filed plans for a $100 million IPO in June. Fosun International Ltd. has agreed to …

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USI to Acquire 7 Willis Retail Brokerage Locations Across U.S. http://www.insurancejournal.com/news/national/2014/08/18/337875.htm Mon, 18 Aug 2014 17:07:07 +0000 http://www.insurancejournal.com/?p=337875 USI Insurance Services announced it has entered into an agreement with certain subsidiaries of Willis North America Inc., part of Willis Group Holdings, to acquire seven of Willis’ retail insurance brokerage locations across the United States. Terms of the transaction …

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Select Guard in California Joins The Iroquois Group http://www.insurancejournal.com/news/west/2014/08/14/337548.htm Thu, 14 Aug 2014 16:13:47 +0000 http://www.insurancejournal.com/?p=337548 Los Angeles, Calif.-based Select Guard Insurance Services LLC has joined The Iroquois Group. Select Guard, division of Westwood Group LLC, offers a range of insurance products with a focus on power sports vehicle insurance. Iroquois is property/casualty insurance agency with …

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Ladenburg Thalmann to Acquire KMS Financial Services in Washington http://www.insurancejournal.com/news/west/2014/08/13/337479.htm Wed, 13 Aug 2014 17:32:03 +0000 http://www.insurancejournal.com/?p=337479 Ladenburg Thalmann Financial Services Inc. has signed a definitive agreement to acquire KMS Financial Services Inc., a Seattle, Wash.-based independent broker-dealer and investment advisor with a strong presence in the Pacific Northwest. Under the terms of the deal, Ladenburg will …

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AXA to Buy $450 Million Stake in U.K. Mall from Land Securities http://www.insurancejournal.com/news/international/2014/08/13/337427.htm Wed, 13 Aug 2014 10:11:46 +0000 http://www.insurancejournal.com/?p=337427 AXA SA’s property unit agreed to buy a 50 percent stake in a shopping mall and other assets in the English city of Bristol from Land Securities Group Plc for £267.8 million ($450 million). The purchase of Cabot Circus, about …

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Chicago-Based Linden Group Joins Digital Benefit Advisors http://www.insurancejournal.com/news/midwest/2014/08/12/337375.htm Tue, 12 Aug 2014 16:11:13 +0000 http://www.insurancejournal.com/?p=337375 Linden Group Health Services has joined Digital Benefit Advisors (DBA), a division of Digital Insurance. Digital acquired the Chicago firm, which specializes in group benefits solutions for small to mid-sized companies, and will open a second DBA office in Chicago, …

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Arthur J. Gallagher Acquires Cowles & Connell in N.Y. http://www.insurancejournal.com/news/east/2014/08/12/337332.htm Tue, 12 Aug 2014 15:50:32 +0000 http://www.insurancejournal.com/?p=337332 Arthur J. Gallagher & Co. announced the acquisition of Cowles & Connell based in Brewster, New York and Meriden, Connecticut. Terms of the transaction were not disclosed. Established in 1892, Cowles & Connell is a managing general agent and wholesale …

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Tiptree Financial to Acquire Insurance Services Firm Fortegra for $218M http://www.insurancejournal.com/news/national/2014/08/12/337334.htm Tue, 12 Aug 2014 13:03:36 +0000 http://www.insurancejournal.com/?p=337334 Holding company Tiptree Financial Inc. said it will acquire Fortegra Financial Corp., a Florida-based insurance services firm, in an all cash transaction valued at approximately $218 million. In the transaction, shareholders of Fortegra will receive $10.00 in cash for each …

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AJ Gallagher Acquires Assets of Caribbean Broker Minvielle & Chastanet http://www.insurancejournal.com/news/international/2014/08/12/337328.htm Tue, 12 Aug 2014 10:24:57 +0000 http://www.insurancejournal.com/?p=337328 Arthur J. Gallagher & Co. announced that it has acquired certain assets of Minvielle & Chastanet Insurance Brokers located in the eastern Caribbean. Terms of the transaction were not disclosed. The bulletin described Minvielle & Chastanet Insurance Brokers (MCIB) as …

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XL Group’s Trade Receivables Insurance Team Grows in US and UK http://www.insurancejournal.com/news/international/2014/08/12/337320.htm Tue, 12 Aug 2014 10:06:57 +0000 http://www.insurancejournal.com/?p=337320 XL Group announced that it is addressing “businesses’ growing interest in Trade Receivables Insurance (TRI),” with the addition of “underwriting resources with the appointments of Jennifer Papadimitriou in London; Paul C. Haigley III and Aaron Rutstein in Baltimore and Agatha …

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Coverys to Acquire ELM Exchange in Maryland http://www.insurancejournal.com/news/east/2014/08/11/337304.htm Mon, 11 Aug 2014 20:24:43 +0000 http://www.insurancejournal.com/?p=337304 Coverys, a Boston-based medical professional liability insurer, announced it has finalized an agreement to acquire ELM Exchange Inc. in Rockville, Maryland. ELM provides customized online educational programs that are designed to help healthcare providers minimize clinical risk and maximize patient …

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Arthur J. Gallagher Acquires Missouri-Based Travel Insurance Agency http://www.insurancejournal.com/news/midwest/2014/08/11/337267.htm Mon, 11 Aug 2014 16:23:36 +0000 http://www.insurancejournal.com/?p=337267 Arthur J. Gallagher & Co. has acquired Trip Mate Inc., based in Kansas City, Mo. Established in 1989, Trip Mate is a full service travel insurance agency that provides a wide variety of travel protection plans and services for their travel …

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Integro’s Entertainment Practice Acquires London Based Stonehouse Conseillers http://www.insurancejournal.com/news/international/2014/08/08/337104.htm Fri, 08 Aug 2014 10:48:37 +0000 http://www.insurancejournal.com/?p=337104 International insurance brokerage and risk management firm Integro has announced its acquisition of Stonehouse Conseillers Ltd., “a London based specialist insurance broker servicing the needs of commercial film production companies and international advertising agencies.” Financial details of the transaction were …

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Aon Acquires Peru-based Graña y Asociados to Bolster Latin American Presence http://www.insurancejournal.com/news/international/2014/08/07/336998.htm Thu, 07 Aug 2014 10:23:11 +0000 http://www.insurancejournal.com/?p=336998 Aon Risk Solutions, the global risk management business of Aon plc, announced the acquisition of Graña y Asociados, a Lima, Peru-based leader in risk and insurance solutions for individuals and businesses. Financial terms were not disclosed. Aon said: “Graña y …

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‘Robust’ Activity Ahead for Agency M&As, Says OPTIS http://www.insurancejournal.com/news/national/2014/08/06/336925.htm Wed, 06 Aug 2014 19:00:07 +0000 http://www.insurancejournal.com/?p=336925 There were 165 announced merger and acquisition transactions of insurance agencies in the U.S. and Canada in the first six months of 2014, a jump of nearly 40 percent over the same period in 2013. Also, according to an OPTIS …

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Norman-Spencer Acquires Northern Star Management in N.J. http://www.insurancejournal.com/news/east/2014/08/06/336973.htm Wed, 06 Aug 2014 17:29:50 +0000 http://www.insurancejournal.com/?p=336973 Norman-Spencer Agency Inc., a Dayton, Ohio-based national insurance provider and program administrator, has completed the acquisition of Northern Star Management Inc. Based out of New Jersey since 1997, Northern Star has been an underwriting management company and wholesale producer working …

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Florida’s Federated National Raises $40M in IPO http://www.insurancejournal.com/news/southeast/2014/08/06/336939.htm Wed, 06 Aug 2014 15:46:43 +0000 http://www.insurancejournal.com/?p=336939 Federated National Holding Co., a Florida-based property/casualty insurer, announced the closing of its public offering of 2,358,975 shares of its common stock, which includes 307,692 shares sold pursuant to the exercise of the 30-day option granted to the underwriters to …

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Confie Seguros Acquires Brokerages in New York, Texas, South Carolina http://www.insurancejournal.com/news/national/2014/08/06/336908.htm Wed, 06 Aug 2014 14:13:12 +0000 http://www.insurancejournal.com/?p=336908 Confie Seguros, a Huntington Beach, California-based national provider of personal lines insurance, has acquired three insurance brokerages. Among these additions is Bower Insurance, an agency in Lockport, New York, providing auto, homeowners and small commercial insurance to the western New …

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Hilb Group Acquires Martin Agency of Kentucky, Florida http://www.insurancejournal.com/news/southeast/2014/08/05/336770.htm Tue, 05 Aug 2014 12:57:38 +0000 http://www.insurancejournal.com/?p=336770 The Hilb Group  has acquired The Martin Agency Inc. (TMAI) with offices in Danville, Kentucky, and Celebration and Ormond Beach, Florida. TMAI will continue to operate at its current locations under the leadership of John Carrithers. TMAI represents THG’s continued …

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Hub International Acquires Florida’s Ballard Insurance http://www.insurancejournal.com/news/southeast/2014/08/05/336764.htm Tue, 05 Aug 2014 12:48:26 +0000 http://www.insurancejournal.com/?p=336764 Chicago-based global insurance broker Hub International Limited has acquired the assets of Ballard Insurance Agency, a Melbourne, Florida-based insurance brokerage with coastal personal lines experience. Terms of the acquisition were not disclosed. Ballard will become part of the Hub International …

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AssuredPartners Buys The Wright Group in Colorado http://www.insurancejournal.com/news/west/2014/08/04/336737.htm Mon, 04 Aug 2014 22:05:57 +0000 http://www.insurancejournal.com/?p=336737 AssuredPartners Inc. has acquired The Wright Group Services in Colorado. AssuredPartners made the acquisition through its subsidiary AssuredPartners of Colorado. The terms were not disclosed. Denver, Colo.-based The Wright Group specializes in employee benefits, property/casualty insurance and retirement services. The …

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CNA Completes Sale of Continental to Wilton Re http://www.insurancejournal.com/news/national/2014/08/04/336663.htm Mon, 04 Aug 2014 15:30:16 +0000 http://www.insurancejournal.com/?p=336663 CNA Financial Corp. announced it has completed completion the sale of Continental Assurance Co. (CAC) to a subsidiary of Wilton Re Holdings. Additionally, Wilton Re Bermuda Limited will reinsure all of the run-off structured settlement annuities reinsured by a Bermuda-based …

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New Force-Placed Insurance Rules Prompt $100 Million Agency Sale http://www.insurancejournal.com/news/national/2014/08/04/336633.htm Mon, 04 Aug 2014 14:27:51 +0000 http://www.insurancejournal.com/?p=336633 One of the country’s largest overseers of troubled home loans, Nationstar Mortgage Holdings Inc., is quietly trying to sell a $100 million insurance agency that doesn’t appear to exist. Harwood Service Co. has no website, no independent offices and only …

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ProMutual Completes Acquisition of Medical Malpractice Insurer PPIC http://www.insurancejournal.com/news/national/2014/08/04/336629.htm Mon, 04 Aug 2014 14:14:41 +0000 http://www.insurancejournal.com/?p=336629 Boston-based Medical Professional Mutual Insurance Co. (ProMutual), a Coverys company, said it has finalized the previously-announced acquisition of Preferred Professional Insurance Co. (PPIC), located in Omaha, Nebraska. PPIC was formerly owned by 18 Catholic healthcare systems, seven of which are …

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Guardian Life Acquires Dental Insurer Premier Access http://www.insurancejournal.com/news/national/2014/08/04/336627.htm Mon, 04 Aug 2014 13:21:06 +0000 http://www.insurancejournal.com/?p=336627 The Guardian Life Insurance Company of America said it has completed its previously announced acquisition of Sacramento, Calif.-based Premier Access Insurance Co., a provider of dental coverage serving more than 5,000 employers and 630,000 members. The addition of Premier Access …

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