Business Moves & Mergers News

RMS Opens New Office in Tallahassee, Florida

RMS, a global catastrophe risk management firm, has opened a new office in Tallahassee, Florida after the acquisition of HWIND Scientific in October 2015. According to a statement from RMS, the new Florida office gives it better access to the …

Brightway Insurance Adds New Agency Owners in Florida, North Carolina

Brightway Insurance, a national property/casualty insurance retailer selling through a network of franchised independent agencies throughout the country, has added new agency owners in North Carolina and Florida. New owners have opened personal lines agencies in the following cities: Charlie …

KRA Insurance Agency, New Agency Partners Merge in New Jersey

KRA Insurance Agency, based in Springfield, New Jersey, and New Agency Partners in Parsippany, New Jersey, have announced that the two firms have merged, resulting in a newly-formed agency, KRA Agency Partners. Terms of the transaction were not disclosed. KRA …

Economical to Buy Largest Canada Pet Insurer, Western Financial Insurance Co.

Economical Mutual Insurance Co., the Waterloo, Ontario-based property and casualty insurance company, announced plans to acquire Desjardins Group’s pet insurance business, Western Financial Insurance Co. (WFIC) and its flagship brand Petsecure. WFIC is Canada’s largest pet insurance company with net …

Salem Five Acquires Otis Brown Insurance Agency in Massachusetts

Salem Five, a banking and financial services company based in Salem, Massachusetts, announced that it has acquired Otis Brown Insurance Agency Inc. of Lexington, Massachusetts. Terms of the transaction were not disclosed. Otis Brown Insurance Agency is an independent agency …

Arthur J. Gallagher Acquires Hogan Insurance Services

Arthur J. Gallagher & Co. has acquired Hogan Insurance Services Inc., located in Westlake Village, Calif. Terms of the deal were not disclosed. Robert Hogan and his team will continue to operate in their current Westlake Village location under the …

Watsa’s Fairfax Plans to Buy Control of Indonesia Insurer’s Non-Life Unit: Sources

Fairfax Financial Holdings Ltd., the Canadian investment firm led by Prem Watsa, is in advanced talks to buy control of Indonesian financial group PT Paninvest’s non-life insurance unit, people with knowledge of the matter said. The transaction would value the …

Brown & Brown to Acquire Morstan General Agency in New York

Brown & Brown Inc. announced Monday that it has agreed to acquire substantially all of the operating assets of Morstan General Agency Inc. and related companies based in Manhasset, New York. The transaction is expected to close in June 2016, …

Run-off Specialist Compre Completes Restructuring to Reduce Cost Base

Compre, the London-based independent insurance and reinsurance legacy specialist, announced the completion of a group-wide restructure, designed to reduce its cost base in preparation for further acquisitions. The run-off consolidator has so far undertaken three acquisitions in 2016 and will …

Beazley Expands Marine Business by Buying Subsea Specialist Leviathan Facility

Beazley, a provider of specialist marine insurance, is expanding its marine offerings with the acquisition of London-based subsea specialist The Leviathan Facility. Beazley will acquire the majority of their existing book and renewal rights. In addition, principal Leviathan underwriters, Simon …