Latest Agencies Headlines
All the headlines from our Agencies Topic Page, ordered by recency.
Former California Insurance Agent Sentenced for Theft
Dec 9 2022 // Francis Okyere, 70, a previously licensed insurance agent in Westlake Village, California, was sentenced this week after pleading no contest to 17 felony counts of identity theft and grand theft by false pretenses. A...
People Moves: SiriusPoint Appoints New International Leadership Team, Naming RSA’s Gibb as President; Hampden Agencies’ CEO Smith to Retire, Succeeded by Wood
Dec 8 2022 // SiriusPoint Appoints New International Leadership Team, Including RSA’s Gibb as President SiriusPoint Ltd., the Bermuda-based specialty insurer and reinsurer, has appointed Rob Gibbs as president of its international...
Hub Acquires Assets of Invensure Insurance Brokers in California
Dec 7 2022 // Hub International Limited acquired the assets of Invensure Insurance Brokers Inc. in Irvine, California. Robert Parent, CEO, and Charlene Richards, Executive Vice President, and the Invensure team will join Hub Los...
BMS Acquires Spanish Specialty Broker Eisenar
Dec 7 2022 // BMS, London-based independent specialty insurance and reinsurance broker, announced it has signed a deal to acquire Eisenar, the Spanish specialty insurance broker. The terms of the acquisition were not disclosed. Eisenar...
Xenia to Buy UK Trade Credit Insurance Broker Linda Scott Associates
Dec 6 2022 // Xenia Broking Group Ltd. (XBGL) announced it has agreed to acquire the trade credit insurance business of Linda Scott Associates Limited (LSA). The transaction is expected to complete on Dec. 22, subject to certain closing...
Ardonagh Advisory Acquires UK Broker The Professional Indemnity Co.
Dec 5 2022 // Ardonagh Advisory Holdings Ltd, a subsidiary of The Ardonagh Group, announced it has acquired The Professional Broking Group Ltd., which trades as The Professional Indemnity Co. Financial details of the deal were not...
Update: Pickleball Explosion in Florida Creating New Hits and Misses for Insurers, Agents
Dec 5 2022 // If the insurance industry hasn’t noticed, the sport known as pickleball is exploding across the country, especially in Florida, where more than 15 indoor clubs, replete with air conditioning, cafes, locker rooms,...
Why Boutique Agencies & Brokers Win
Dec 5 2022 // Professional boutique agencies are the solution, the only real solution, for all those producers who compete against big shops, insurtechs that use bots rather than humans, and those with low price/low quality commodity...
Insurance Agencies Share Recruiting Lessons From 2022
Dec 5 2022 // December is the perfect time to reflect on lessons learned over the last 12 months, and how to apply them in the new year. Hiring and recruiting is universal. We can learn a lot from one another. For this column, I posed a...
Massachusetts Insurance Agent Sentenced for Disability Fraud
Dec 2 2022 // The former owner and operator of an Arlington-based insurance agency was sentenced earlier this month for fraudulently receiving disability benefits from the Department of Veterans Affairs (VA) and the Social Security...
KKR Used Equity Rather Than Debt to Fund Acquisition of Broker April Group
Dec 2 2022 // KKR & Co.’s buyout of a French insurance broker is offering a window into the diminishing power of Wall Street’s vaunted leveraged finance machine. The buyout firm agreed to fund on its own the totality of...
Howden Acquires Australian Specialty Broker AlphaXO Risk Partners
Dec 1 2022 // Howden, the London-based insurance broker, announced it has increased its shareholding to 100% in AlphaXO Risk Partners, an Australian specialty insurance broker. Financial details of the deal were not...
Ex-Iowa Insurance Agent Charged With Forgery, Fraud Sales Theft
Nov 30 2022 // Joseph Drahozal, age 57, of Cedar Rapids was charged with one count of Forgery (Class D Felony), two counts of Fraudulent Sales Practice under $10,000 (Class D Felony), and one count of Theft in the third degree...
Insurance Broker BMS Group’s Owners Weigh Its Sale, With £600 Million Valuation
Nov 30 2022 // British Columbia Investment Management Corp. and Preservation Capital Partners are considering a sale of BMS Group that could value the insurance broker at more than £600 million ($720 million), people familiar with the...
Hilb Group Acquires Sharpline Brokerages of Pennsylvania
Nov 29 2022 // The Hilb Group announced that it has acquired Pennsylvania-based Sharpline Insurance Brokerages, expanding its property/casualty presence throughout the Mid-Atlantic. Based in King of Prussia, Pennsylvania, Sharpline...
Viewpoint: California Regulatory System Hurting Independent Agents and Their Clients
Nov 29 2022 // Millions of California insurance consumers are being adversely affected and incurring higher costs of insurance due to the malfunctioning insurance regulatory system in California. Moreover, the broken regulatory...
People Moves: Tysers Insurance Brokers Names Former Chubb Exec Kendrick as Chair; Tokio Marine HCC Int’l Promotes Herrero as CEO for European Operation
Nov 28 2022 // Tysers Insurance Brokers Names Former Chubb Exec Kendrick as Chair Tysers Insurance Brokers, the London-based broker, announced the appointment of Andrew Kendrick as non-executive chair. The appointment is effective Dec....
Private Equity Firm KKR Nears €2.3 Billion Deal for French Insurance Broker April Group
Nov 28 2022 // French insurance broker April Group said private equity firm KKR & Co. has become its new majority shareholder, according to a statement posted on its website. The statement, which confirmed a Bloomberg News report,...
California Department of Insurance Investigation Leads to Arraignment Bail Agents
Nov 22 2022 // Unlicensed bail agent Jimmy Mai, 35, of Irvine, and licensed bail agent Jonathan Lahmani, 42, of Orange, California, were each arraigned in Los Angeles Superior Court on one felony count of negotiating bail without a...
Special Report: America’s Best Independent Insurance Agencies to Work For
Nov 21 2022 // The votes are in for the 2022 Best Independent Insurance Agency to Work For survey by Insurance Journal. Employees in 2022 highlighted the importance of competitive salaries, employee benefits, training and education,...
