Business Moves

PMA Companies

PMA Companies, a Pennsylvania-based provider of commercial insurance risk management solutions and TPA claims and risk services, opened an office in Schaumburg, Ill., and is offering property and casualty insurance and TPA services to employers throughout the state. The Illinois expansion is part of PMA’s strategic growth strategy, which included expansion into five new states in 2010. PMA will be expanding its broker/agency distribution network in Illinois. Jeff Swaney, senior vice president, Central Region, leads the company’s Illinois operations.

Strategic Insurance Agency Alliance

Strategic Insurance Agency Alliance (SIAA) announced that six new independent agencies in the Midwest joined the alliance. They are among 21 new members that SIAA added in April 2011.

Of the new members, 18 are liberated “captive agents” new to the independent agency system – bringing new premium dollars and new people into the system. The new SIAA agencies from the Midwest are: Viking Insurance Agency Inc. of Edina, Minn.; Champion Insurance Inc. of Grand Island, Neb.; Stephen Kesner Insurance Inc. of Lima, Ohio; Commercial Solutions Insurance LLC of Bellevue, Neb.; Breakwater Group LLC of Byron Center, Mich.; and Michael Koch Insurance Agency Inc. of Libertyville, Ill.

State Farm

State Farm plans to close two dozen field offices in Illinois, Indiana and Michigan, where 1,300 people work, to save $8 million over the next five years.

The Pantagraph newspaper in Bloomington, Ill., reported that the insurance company said some of those employees will work from home as mobile employees while others will be offered jobs in one of six remaining field offices. There are two each in Illinois, Indiana and Michigan.

The Bloomington-based insurance company said it hopes to retain all the affected employees.

The Illinois offices that will close are in Marion, Collinsville, Springfield, Champaign, Peoria, Moline, Rockford, Elmhurst, Tinley Park and Arlington Heights. Locations in other states were not immediately available.

American Westbrook, American Worker Plans Inc.

Westchester, Ill.-based American Westbrook Insurance Services LLC, a subsidiary of Hendricks Holding Co. Inc., announced it acquired The American Worker Plans Inc.

The American Worker Plans, established in 1992, is a national developer and marketer of affordable health insurance programs. The American Worker partners with various “A” rated insurance companies to provide specialty insurance products for employers of all sizes.

Neace Lukens, Ecotech Renewable Engineering, Eagle Energy

Neace Lukens launched a new energy consulting service as part of its risk management division, CORE Solutions Property Services (CSPS). This energy service program was established as part of new business relationships forged with Ecotech Renewable Engineering, a Cincinnati, Ohio-based renewable energy developer and consultant and Eagle Energy LLC, a Cincinnati-based alternative electricity supplier and energy consultant.

Ryan Specialty, Jubilee Group

Chicago-based insurance holding company Ryan Specialty Group LLC (RSG) agreed to acquire specialist Lloyd’s insurer Jubilee Group Holdings Ltd.

Jubilee Group Holdings owns Jubilee Managing Agency Ltd. and the distribution and administration businesses Lutine Assurance Services Ltd., Jubilee Service Solutions Ltd. and Amsterdam-based Jubilee Europe BV.

RSG does not intend to acquire the existing corporate members for the Jubilee Syndicates 779, 5820 and 1231. The sale is subject to Lloyd’s and FSA approval.

National Interstate, McNeil & Company

Transportation insurance provider National Interstate Insurance Co. entered the ambulance insurance market through a relationship with McNeil & Co. Inc. The Ambulance Services Insurance Program (ASIP) was created specifically for emergency and non-emergency medical transportation operators.

ASIP is administered by McNeil, with insurance coverages and claims services being offered jointly by National Interstate and McNeil. McNeil also provides loss control and risk management services.

The program was designed for best-in-class for-profit emergency and non-emergency medical transportation companies with a commitment to safety excellence. The ASIP program provides a coverage package, claims management and loss control services.

Arthur J. Gallagher, ITI Solutions

Illinois-based Arthur J. Gallagher & Co. acquired specialty insurance broker ITI Solutions Pte Ltd. located in Singapore. ITI Solution Pte’s specialties include marine cargo, political risk, trade credit risk, and specialty lines. In addition, ITI Solutions Pte Ltd. is licensed to place business in the regional Asian reinsurance markets. ITI Specialties will trade internationally as Gallagher Singapore.

Topics Illinois