Business Moves

AmWINS Brokerage of Texas

The Texas operations of Colemont Insurance Brokers was officially renamed AmWINS Brokerage of Texas effective Dec. 1, 2010. AmWINS and Colemont announced a planned merger in April 2010. Combined, the two companies expect to place more than $4.8 billion in annual premiums with over 1,800 employees in 16 countries.

Colemont was founded in 1992 and has been active in the international insurance marketplace.

The AmWINS and Colemont offices in Dallas have already physically combined at the site of Colemont’s Dallas office.

Early in 2011, the Houston offices of both AmWINS and Colemont will be relocated in a new physical location. Until then, the contact information for both existing offices will remain unchanged.

As a result of the integration, AmWINS Brokerage of Texas will have more than 125 staff members and is projected to place nearly $400 million in premium in 2011. Todd Teitell will continue to be responsible for the AmWINS Brokerage of Texas operations.

Retailers Casualty Insurance

Baton Rouge, La.-based workers’ compensation insurer Retailers Casualty Insurance Co. is offering workers’ compensation coverage in Texas. Retailers Casualty, which is managed by Summit Consulting Inc., said it has received all regulatory approvals from the Texas Department of Insurance. Agents may quote Texas business with Retailers Casualty for policies with effective dates of Jan. 1, 2011.

Retailers Casualty currently insures more than 2,000 businesses throughout Arkansas, Louisiana and Mississippi and is rated A- (Excellent) by A.M. Best.

Summit has more than 30 years of experience in workers’ compensation and provides underwriting, policy administration, claims management and loss control services to Retailers Casualty policyholders.

IMA Benefits

Retail insurance broker IMA Inc. has created a benefits practice, IMA Benefits. IMA Benefits will be the new home of the benefits practice groups in IMA of Kansas, IMA of North East Kansas, IMA of Texas and IMA of Colorado.

The small group benefits practice from Signature Select, an IMA subsidiary focused on small commercial and personal lines insurance, has also joined IMA Benefits. The retirement and executive benefits specialists from TrueNorth, IMA’s asset management subsidiary, will also work closely with IMA Benefits.

The change will be seamless for IMA’s existing clients. Current and future clients can expect a new array of consulting services and innovative products that will help them in a new benefits paradigm.

Marcia Benshoof has been named president of IMA Benefits. As Benshoof transitions into the new role of president of IMA Benefits, Bob Reiter will step back into the role of president of IMA of Colorado while retaining his current role of president of IMA Inc.

IMA Inc., part of The IMA Financial Group Inc., is a diversified financial services company specializing in insurance, asset and risk management with 450 employees and offices throughout the United States.

The Hartford, Sedgwick Claims Management

The Hartford announced it has inked a $278 million deal to sell its third-party claims administration business, Specialty Risk Services (SRS), to Sedgwick Claims Management Services Inc. The Hartford said the deal is expected to close in the first quarter, and will give the insurer capital gains of approximately $150 million, after taxes.

SRS handles claims services for self-insured, insured and alternative market clients. The Hartford said Sedgwick plans to extend comparable employment offers to all direct Specialty Risk Services employees.

Sedgwick, based in Tennessee, provides claims and productivity management services. It has about 7,000 employees and 130 offices in North America. The company specializes in workers’ compensation, disability, FMLA and other employee absence, general, automobile and professional liability and warranty and credit card claims services.

Topics Texas