Business Moves

November 18, 2013

R-T Specialty, Westrope

Chicago-based national wholesale insurance broker R-T Specialty said it has agreed to merge with another wholesale broker Westrope, based in Kansas City, Mo. Terms of the transaction were not disclosed.

Westrope has a national presence with concentrations in the Midwest, Southeast and Southwest. Westrope generates premiums of more than $430 million, according to its website. In addition to its Kansas City headquarters, it operates offices in Overland Park, Atlanta, Dallas, Bedminster, N.J. and Jacksonville, Orlando and Brandon, Fla.

R-T Specialty has offices in about 17 states, with multiple offices in California, New York and Texas.

In addition to offering property/casualty, Westrope has workers’ compensation, professional liability, transportation, agri-business and life science markets as well. Kevin Westrope, president and CEO who founded the brokerage in 1992, is the current president of the National Association of Surplus Lines Offices (NAPSLO).

AssuredPartners

AssuredPartners Inc., through its subsidiary AssuredPartners of New Jersey, acquired Eastern Insurance Acquisition Agency (D/B/A Eastern Insurance Group) in Pennsylvania. Eastern Insurance specializes in commercial insurance, personal insurance and life, health and employee benefit programs. The agency, with offices in Wilkes Barre and Hazleton, Penn., reports revenues of $4.3 million. As part of the acquisition, more than 45 Eastern Insurance employees will join AssuredPartners of New Jersey.

AssuredPartners also recently completed its acquisition of the Preferred Advantage branch located in Hartford, Conn. Preferred Advantage specializes in providing property/casualty insurance services to small and medium businesses, and is a division of Preferred Concepts LLC. The acquired business will operate as AP Advantage. AssuredPartners said 12 Preferred Advantage employees are joining the newly formed AP Advantage.

Confie Seguros

Confie Seguros, a national group of personal lines insurance brokers, announced the acquisition of two additional insurance brokerages: DeFranco Insurance Agency of Niagara Falls, N.Y., and Insurance Group of American (d/b/a City Insurance) of Palm Springs, Fla. Confie has completed 23 acquisitions in the last 12 months.

DeFranco Insurance Agency specializes in the delivery and service of personal lines insurance products to the Niagara Falls, N.Y., region. City Insurance specializes in non-standard auto insurance for clients in Palm Springs and West Palm Beach, Fla.

NSM, ELM

NSM Insurance Group has acquired Executive Liability Managers Insurance Brokers in California.

ELM is a 25-year-old professional liability wholesale insurance brokerage with three offices in California.

The acquisition diversifies NSM’s national market for admitted and non-admitted business, according to a statement from NSM.

NSM is a national commercial property/casualty insurance program administrator specializing in the development and implementation of industry-specific insurance programs.

Frost Insurance, Kolkhorst

Frost Insurance has acquired Kolkhorst Insurance Agency, an independent Houston-based insurance agency that offers a full range of property/casualty, personal lines and surety products.

Kolkhorst Insurance has been serving clients in the Houston area since 2009. The agency’s team of nine employees became part of Frost Insurance with the acquisition and will remain at the agency’s existing location on W. Sam Houston Parkway.

Frost Insurance, the insurance subsidiary of Frost, provides a full range of property and casualty, group employee benefits, estate planning and business succession, personal insurance, HR consulting and outsourcing needs throughout Texas.

Founded in 1868, Frost has helped clients with their financial needs during three centuries.

AutoTown, Fling

AutoTown Insurance, an independent agency based in Norcross, Ga., acquired Fling Insurance Agency in Lagrange, Ga.

AutoTown said the acquisition highlights the firm’s expansion plans outside of the metro Atlanta market.

Founded in 1970, AutoTown Insurance offers a wide range of personal and business insurance. It operates retail stores in Georgia and South Carolina under the AutoTown Insurance brand name.

Travelers, Dominion of Canada

The Travelers Companies Inc. completed its previously announced acquisition of The Dominion of Canada General Insurance Company from E-L Financial Corporation Limited. The combined organization, which will be referred to as Travelers Canada, will remain headquartered in Toronto.

Travelers earlier announced it is paying approximately $1.1 billion for the acquisition. The Dominion is one of Canada’s largest auto, home and business insurers.

Was this article valuable?

Here are more articles you may enjoy.

From This Issue

Insurance Journal West November 18, 2013
November 18, 2013
Insurance Journal West Magazine

Top Personal Lines Retail Agencies; Assisted Living / Long Term Care; Contractors & Builders; Regional Wall Calendar – Sponsor a Month