Business Moves & Mergers News

Liberty Mutual Insurance Raises Shareholding in India’s Liberty Videocon to 49%

Liberty Mutual Insurance Group is increasing its overall interest in its non-life insurance joint venture company, Liberty Videocon General Insurance Co. Ltd., from 26 percent to 49 percent. The increase was enabled as a result of changes in local regulations …

ArgoGlobal Buys Renewal Rights to Allied World’s Marine Hull Business in Asia

ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced it has acquired the renewal rights for Allied World’s marine hull business in Asia. The transaction completed on August 5. “I am very pleased that we have reached an agreement …

U.S. Risk Acquires Continental Marine in California

U.S. Risk L.L.C. has acquired Continental Risk Insurance Services. Continental Risk is a Lodi, Calif.-based wholesale insurance broker. Continental places marine insurance for both commercial and personal marine-related risks, such as marinas, boat dealers, boat manufacturers, boat repairers and yacht …

DSP Insurance Makes Acquisitions, Names Sulkowski President

Schaumburg, Ill.-based DSP Insurance Services has added employee benefits specialist, Nancy Vatch, along with her team of professionals, and acquired Cormac Benefits Group, led by Bill Storie. DSP also announced that Jim Sulkowski has been promoted to the position of …

Global Risk Partners Acquires UK-Based BB Insure

Global Risk Partners Ltd. (GRP) has acquired the commercial and personal insurance broker BB Insure, which has offices in the UK cities of Boston and Skegness. BB Insure’s management team will continue to lead the business and Rob Brooks, managing …

Gateway-Acentria Merges with Insurance Center of South Florida

Gateway-Acentria Insurance has formed a merged partnership with Insurance Center of South Florida, an established agency based out of Coral Springs, Fla. Insurance Center of Florida specializes in working with employers to design and service group benefit programs. Additionally, they …

NSM Forms Joint Venture with Massachussetts-Based ABRY Partners, AIG

NSM Insurance Group, an insurance program administrator based in Pa., has agreed to enter into a joint venture with Massachussetts-based private equity investment firm, ABRY Partners, and AIG. Through this partnership, NSM Insurance Group aims to quickly grow and diversify in …

U.S. Risk Acquires Continental Marine in California

U.S. Risk L.L.C. has acquired Continental Marine Insurance Services. Continental is a Lodi, Calif.-based wholesale insurance broker. Continental has specialized in placing marine insurance for both commercial and personal marine-related risks such as marinas, boat dealers, boat manufacturers, boat repairers …

Arthur J. Gallagher & Co. Acquires Miami-Based Gabor Insurance Services, Inc.

Arthur J. Gallagher & Co. has acquired Gabor Insurance Services, Inc., including its subsidiary, American Professional Liability Underwriters, headquartered in Miami, Florida. Terms of the transaction were not disclosed. Founded in 1992, Gabor Insurance Services, Inc. (Gabor) is a managing …

Sandy Spring Insurance Acquires The Advantage Group in Maryland

Sandy Spring Insurance Corp., a subsidiary of Md. headquartered Sandy Spring Bancorp Inc., has acquired The Advantage Group Inc. Following the acquisition, The Advantage Group will continue to operate under its current name. It will ultimately rebrand to Sandy Spring …