Business Moves & Mergers News

Erie Insurance Group Enters Kentucky Market

Erie Insurance Group has begun to offer its products in the Kentucky market. The Erie, Pennsylvania-based insurer said its entry into Kentucky marks its first geographic expansion in more than 10 years. Erie Insurance said it now has operations in …

Marsh to Acquire Flood Insurance Technology Firm Torrent

Insurance broker Marsh has agreed to acquire Torrent Technologies Inc., which serves Write Your Own (WYO) insurers participating in the National Flood Insurance Program (NFIP). Torrent’s approximately 100 employees will combine with Marsh’s existing flood insurance specialists and remain headquartered …

Brokers Willis Group, Miller Talk Merger of Wholesale Brands

Willis Group Holdings and Miller Insurance Services LLP are engaged in talks to merge their wholesale insurance businesses. The resulting wholesale brokerage firm would trade under the Miller brand, governed and regulated as a standalone legal entity and separate Lloyd’s …

RSA Insurance Selling Italian Business to ITAS Mutua

RSA Insurance Group Plc agreed to sell its Italian business to ITAS Mutua, the country’s oldest customer-owned insurer. RSA will transfer 434 million pounds ($698 million) of liabilities to ITAS and receive a payment of 19 million pounds, the London-based …

Global Indemnity to Acquire American Reliable from Assurant Specialty

Assurant Specialty Property, a business segment of Assurant Inc., has agreed to sell its general agency business and associated insurance carrier, American Reliable Insurance Co., to Global Indemnity Group Inc., the U.S. subsidiary of Dublin-based Global Indemnity, for approximately $114 …

Pioneer Underwriters Launches Pioneer Special Risk of N.Y.

Pioneer Underwriters has launched a new division called Pioneer Special Risk of New York and hired Gary Dubois as division president. Based in New York, Dubois is joined by Steve Sitterly, chief operating officer, and Scott Misson and Brian Hickey, …

Texas-Based Premium Finance Group to Be Sold to South Dakota’s MetaBank

Cecil Y. Ray Jr., chairman of AFS/IBEX and former chairman of The Rigg Group, has announced the sale of substantially all of the loan portfolio and related assets of Dallas-based AFS/IBEX Financial Services Inc. – including AFS/IBEX Financial Services Inc. of California and …

Educator-Focused Meemic Insurance Expands into Illinois

Meemic Insurance Co., a Michigan-based insurance provider offering personal auto, homeowners, and umbrella coverages tailored exclusively to teachers and other educational employees, announced that the company will immediately begin offering insurance services to educational employees in Illinois. Meemic Insurance Company has been …

Lawley Insurance Acquires S. Turtletaub & Sons in New Jersey

Lawley Insurance, an independent agency based in Buffalo, New York, has acquired S. Turtletaub & Sons Inc., an agency in Bayonne, New Jersey. Terms of the transaction were not disclosed. The transaction is part of Lawley Insurance’s overall New York …

USI Insurance Services Acquires Wallace/Scott in Alaska

Valhalla, N.Y.-based USI Insurance Services announced the closing on the acquisition of Wallace Insurance Inc./Scott Insurance Services headquartered in Anchorage, Alaska. The employee benefits practice and all of its employees will join USI’s Anchorage office. By acquiring Wallace/Scott, USI’s footprint …