Business Moves & Mergers News

Markel to Set Up Munich-Based Subsidiary in Preparation for Brexit

Markel Corp. announced it plans to apply for regulatory approval to establish an insurance company in Germany to ensure that whatever the outcome of the Brexit negotiations it will be able to meet the insurance needs of clients in the …

Arthur J. Gallagher Acquires Nebraska’s Strong Financial Resources

Arthur J. Gallagher & Co. has acquired Strong Financial Resources Inc., with offices in Aurora and Lincoln, Nebraska. Terms of the transaction were not disclosed. Founded in 1996 by Calvin Strong, Aurora-headquartered Strong Financial offers a broad variety of group …

AXA Launches Unit Focusing on Innovation, New Business Models with Phillips as CEO

AXA has appointed Joyce Phillips as chief executive officer of a new business unit dedicated to customer innovation and new business models. Phillips becomes a member of the management committee of AXA Group and reports directly to Thomas Buberl, CEO …

New CEO Duperreault Interested in Growing AIG, Not Splitting It

American International Group’s President and CEO Brian Duperreault began his first full day in his new job repudiating the idea of splitting the insurer into pieces and simply returning money back to shareholders. “I recognize the value of the company’s …

Huffman Insurance Joins Valley Insurance Agency Alliance

Huffman Insurance Group in Moberly, Mo., has joined Valley Insurance Agency Alliance (VIAA), a network of over 100 independent insurance agencies in Missouri and Illinois. Huffman Insurance Group is a full-service insurance agency founded in 2015 that specializes in auto, …

Chicago’s Promont Advisors, ProPoint Claims Join Doxa Insurance Holdings

Doxa Insurance Holdings LLC, an Indiana-based private equity fund focused on purchasing managing general agents nationwide, has acquired Chicago-based Promont Advisors and ProPoint Claims Services. Promont and Propoint specialize in providing insurance and claims administration for difficult classifications of business …

AIG Agrees to Acquire Hamilton USA, Partner with Two Sigma, Grow Insurtech Attune

American International Group Inc. will acquire Hamilton USA as part of  a memorandum of understanding  with Hamilton Insurance Group and Two Sigma Insurance Quantified that is designed to further their investment in the technology platform Attune and to advance data-driven underwriting. …

Gen Re Receives License to Open Reinsurance Branch in India

Gen Re has received approval from the Insurance Regulation and Development Authority of India (IRDAI) to open a branch in Mumbai ( known as R3 authorization). The branch structure will now allow Gen Re to deliver underwriting and risk management …

Brightway Adds 5 Women-Owned Insurance Agencies

Insurance agency franchise operator Brightway is opening five new personal lines insurance agencies that are owned by women, two of which are the first Brightway agencies to open in California. In addition to California, Oklahoma, South Carolina and Florida are getting agencies, …

Higginbotham Acquires Part of Hilb Group of Texas

Fort Worth, Texas-based insurance agency, Higginbotham, has purchased a portion of the Hilb Group of Texas LLC’s operations in San Antonio. The transaction adds eight insurance and customer service professionals with a book of commercial and personal property/casualty insurance and …