Business Moves

Ascension, Falcone Williams

Ascension Insurance is expanding in North Carolina with its third agency acquisition in the state in the past three years. Ascension’s most recent acquisition is Falcone Williams Insurance, located in Huntersville, North Carolina. Falcone Williams provides business and personal lines insurance from national and regional insurance carriers. Falcone plans to provide local services through 65 professionals in Charlotte, Shelby, Greensboro, and Raleigh, N.C.

Kansas City, Mo.-based Ascension Insurance Inc. has 440 employees in 35 locations nationwide. Previously, Ascension acquired Providence Insurance Agency of Charlotte and Raleigh in 2010 and Commercial Insurance Group of Charlotte in 2009. In 2008, the insurer made its first acquisition, First Charter Insurance Services.

Texas Medical Liability, Physicians Insurance

The Texas Medical Liability Trust has acquired the Florida-based Physicians Insurance Co. The Deerfield Beach, Florida-based Physicians Insurance has been operating in the state since 2003. It has $8 million in annual premiums, representing 1.4 percent of the state’s market.

In addition to Physicians Insurance, TMLT has acquired several related businesses, including Managed Insurance Services, the National Institute of Quality Assurance, the Insurance Software Design, and Insurance Innovations.

TMLT is the largest medical liability insurance provider in Texas, providing insurance to 15,000 members of the Texas Medical Association.

Neace Lukens, Berryman

Louisville-based insurance agency Neace Lukens is expanding its presence in Kentucky by buying the Berryman Insurance Agency. The Hartford, Kentucky-based Berryman Agency was founded in 1937 and its current owners date back to 1967. The agency specializes in auto, home, property, workers’ compensation, and life and health products. In addition to its Hartford office, the agency has offices in Owensboro and Hardinsburg.

Neace Lukens is a wholly-owned subsidiary of AssuredPartners Inc., a portfolio company of GTCR, a private equity firm. Neace Lukens has 22 offices located in Kentucky, Ohio, Illinois, Michigan, Tennessee, Arizona, Georgia, Arkansas, Florida and South Carolina.

The acquisition of the Berryman Agency is the first since AssuredPartners bought Neace Lukens in September, 2011

R-T Specialty; Maclean, Oddy

R-T Specialty LLC, the wholesale broker of Ryan Specialty Group LLC, has acquired Texas-based insurance wholesale firm Maclean, Oddy & Associates Inc. (MOA). MOA is a specialist broker for unusual property and casualty risks with a focus on environmental coverages. It has offices in Dallas and Houston. R-T Specialty is a subsidiary of Chicago-based Ryan Specialty Group LLC.

Glatfelter, Bunker Hill Underwriters

Glatfelter Program Managers, a program business division of Glatfelter Insurance Group in York, Penn., acquired senior living and religious organizations programs from Bunker Hill Underwriters Agency in Houston.

The senior living book consists of all lines (except workers’ compensation) for skilled care, assisted living, independent living, continuing care retirement communities and group and personal care homes. Senior living will be grouped with a program under a new brand and division known as Glatfelter healthcare practice.

The religious organization program writes churches, synagogues and temples and is now branded as Glatfelter religious practice, writing all lines except workers’ compensation.

Both Glatfelter healthcare practice and Glatfelter religious practice are written on a national basis with minor exceptions. They are distributed on an open brokerage basis largely through brokers specializing in these market segments. They use a combination of admitted and non-admitted markets. The senior living book is underwritten by QBE and Beazley and the religious organizations book is underwritten by Chartis.

The current team of underwriters and claims managers handling this business will join Glatfelter Insurance Group as new associates. Underwriting and claims will be executed from Glatfelter’s new Houston office.

Swett & Crawford, ABC Program

Wholesale insurance intermediary, Swett & Crawford, announced it has acquired The ABC Program, an underwriting facility based in St. Louis, Mo., from AHM Financial Group LLC. The ABC (Aviation Based Coverage) Program delivers property/casualty insurance including airport property, automobile, inland marine and other related coverages geared to retail brokers specializing in aviation. The transaction was completed on Jan. 4, 2012. The ABC Program will operate as The ABC Program, a division of Swett & Crawford. Beckie Rodriguez will continue as program manager for The ABC Program.

Topics Florida Texas Kentucky