Business Moves

Integro, Windward

New York-based Integro has acquired Windward International Inc., a marine insurance broker based in New Jersey.

Terms of the deal were not disclosed.

Windward International Inc. has developed a significant subspecialty in brown water coverage, the industry term for inland and coastal marine operations, chiefly tug and barge, ship repair, marine construction and related coverage.

The deal allows Integro to expand its marine practice, one of its key specialty groups, said Integro Marine practice leader Gary Moore.

Windward International’s Joseph Cacici and Jenna Brown will join Integro’s marine practice in New York City.

Keystone, CSE

Pennsylvania-based Keystone Insurers Group said it has added CSE Agency Inc. and CSE Financial Services Inc., of Virginia, as a franchise partner. CSE Agency and CSE Financial Services were established in 1994 following the merger of insurance agencies in the Abingdon area.

S.H. Smith

Connecticut-based S.H. Smith & Co. Inc., a wholesaler and managing general agent, announced it is expanding its market presence into the West by opening an office in the Northwest some time in early spring.

S.H. Smith & Co. has been a general agent for Zurich’s Programs business since 2007 and underwrites Zurich’s charter bus program.

United Fire, Mercer

Cedar Rapids, Iowa-based United Fire & Casualty Co. said it has the necessary approvals from state regulators and company shareholders to complete its acquisition of Mercer Insurance Group Inc.

United Fire announced in November plans to buy Pennington, N.J.-based Mercer for $191 million cash.

United Fire said approvals have come from the California Department of Insurance, the New Jersey Department of Banking and Insurance and the Pennsylvania Department of Insurance.

In addition, Mercer’s stockholders voted to approve the deal, which was expected to close by March 31.

United Fire said it wants to buy Mercer because the companies’ agent networks are concentrated in different parts of the country, the company said.

It would also spread the company’s risk by making company less vulnerable to catastrophes in areas where it has written a lot of policies.

The post-merger United Fire will market through 1,400 agents, up from 800 in its existing agent network. That will boost its sales. The company expects the deal to increase its net income by 2012.