Business Moves & Mergers News

Meeker Sharkey Merges With James F. Hurley Insurance Agency in N.J.

Meeker Sharkey Associates, an insurance agency in Cranford, New Jersey, and James F. Hurley Insurance Agency of Bedminster, New Jersey, have announced their merger. Terms of the transaction were not disclosed. The two agencies said that by combining their resources, …

USI Acquires Program Business From Askin, Weber & Reed in N.J.

USI Insurance Services in Valhalla, New York, announced its acquisition of an insurance program business from Askin, Weber & Reed (AWR) in Freehold, New Jersey. Terms of the transaction, which has been completed, were not disclosed. AWR has been involved …

BusinesFirst Enters Workers’ Compensation Market in Georgia

BusinessFirst Insurance Co., a monoline workers’ compensation company, is now offering coverage to employers in Georgia. BusinessFirst and affiliate RetailFirst Insurance Co. comprise the RetailFirst Insurance Group. During 2013, the companies reported more than $108 million in combined direct written …

Progressive Insurance Acquiring Homeowners Group ASI for $875M

Auto insurance giant Progressive Insurance is enhancing its homeowners insurance offerings by acquiring controlling interest in a Florida-based group of insurers now selling homeowners, renters, condo, umbrella, flood  and other property/casualty coverages in about half the states nationwide. The Progressive …

Insurance Tech Firms Majesco, Cover-All to Merge

Insurance tech-company Cover-All Technologies plans to merge with rival Majesco, a deal that will create an operation with $100 million in annual revenue and a global reach. Majesco (formerly MajescoMastek) founder and CEO Ketan Mehta will become president and CEO …

UPC Insurance to Acquire Family Security Holdings

United Insurance Holdings Corp. (UPC Insurance) said it plans to acquire Family Security Holdings LLC for $9 million. The transaction is expected to close by Jan. 31, 2015. FSH is an insurance holding company with two wholly owned subsidiaries, Family Security Insurance …

Arthur J. Gallagher Acquires O’Gorman & Young in New Jersey

Arthur J. Gallagher & Co. announced the acquisition of O’Gorman & Young Inc., headquartered in Chatham, New Jersey, including its affiliate G.R. Murray Insurance, in Princeton, New Jersey. Terms of the transaction were not disclosed. Founded in 1894, O’Gorman & …

Allianz Announces New Leadership Team for Combined Fireman’s Fund, AGCS NA

German insurance giant Allianz announced a new team that will lead the combined Fireman’s Fund and Allianz Global Corporate & Specialty North American business beginning in 2015. Andrew Torrance, current president and CEO of Fireman’s Fund Insurance Company (FFIC), will …

Farmers Insurance Set to Enter Connecticut in January

Farmers Insurance is set to begin providing insurance and financial services to Connecticut consumers Jan. 1, 2015, pending regulatory approvals, according to company executives who recently briefed local media representatives on the company’s plans. “Farmers is excited about its entry …

NFP Acquires Foran Insurance in Massachusetts

National Financial Partners Corp. (NFP), a New York-based provider of benefits, insurance and wealth management services, has acquired EBS/Foran Insurance and Advisory Services Inc. (Foran Insurance) in Massachusetts. Terms of the transaction were not disclosed. The Massachusetts-based Foran Insurance, with …