Eastern Insurance Group, Westover Insurance
Eastern Insurance Group, an insurance agency and a subsidiary of Eastern Bank based in Natick, Mass., acquired Westover Insurance Agency in Lynnfield, Mass.
Eastern Insurance said the acquisition increases its customer base north of Boston, where it already has four locations. Westover Insurance customers will be served by Eastern Insurance’s office in Wakefield, Mass. Westover Insurance represents Eastern Insurance’s 16th acquisition since 2004.
Eastern Insurance has 18 locations with more than 300 employees. The agency serves more than 70,000 individuals and businesses with a range of personal and commercial insurance products, surety, and employee benefits services.
South & Western General Agency, Horner Insurance Services
Dallas-based South & Western General Agency Inc. merged with Horner Insurance Services Inc. of Memphis, Tenn. As an MGA specializing in commercial transportation, Horner Insurance Services brings additional markets and expertise to the commercial transportation facilities at South & Western.
Based in Memphis, Gene Horner Jr. will lead a combined unit as president of commercial transportation. Existing underwriting staff at Horner Insurance Services will continue to provide commercial transportation products to retail agents throughout the mid-South and Southwest.
South & Western offers specialty insurance products to independent agents throughout the mid-South and Southwest. In addition to commercial transportation, South & Western offers specialty personal lines, farm and ranch, and specialty commercial property/casualty products.
AssuredPartners of Missouri, AHM Financial Group
AssuredPartners of Missouri, an AssuredPartners Inc. platform operation, completed the asset acquisition of the AHM Financial Group LLC insurance business. The St. Louis, Mo.-based agency offers commercial, personal and employee benefits insurance for businesses and individuals.
AHM Financial Group reports revenues of about $17 million.
The AHM Financial Group acquisition marks the 16th deal for AssuredPartners in 2013. Under terms of the acquisition, the agency will continue to operate as AHM Financial Group. The transition will be seamless for existing AHM Financial Group clients.
As part of the acquisition, 100 AHM Financial Group employees will join AssuredPartners of Missouri. Operations are based out of St. Louis, and will continue under the leadership of Rich Harkwell and Chase Butler.
AssuredPartners of Minnesota, Lee F. Murphy Inc.
AssuredPartners Inc. through its subsidiary, AssuredPartners of Minnesota, acquired the Lee F. Murphy Inc. insurance firm based in St. Paul, Minn.
As part of the acquisition, 50 Lee F. Murphy employees will join AssuredPartners of Minnesota. Local operations will continue under the leadership of Bob Murphy.
Lee F. Murphy offers insurance and consulting services for businesses and individuals and reports revenues of roughly $8 million. The firm specializes in commercial insurance, including property/casualty, workers’ compensation, cyber liability, risk management, employee benefit programs and personal insurance.
Lake Mary, Fla.-based AssuredPartners Inc. is a portfolio company of Chicago-based private equity firm GTCR.
Sleeper Sewell Insurance Services, Planned Benefit Services
Sleeper Sewell Insurance Services Inc., a division of ANBTX Insurance Services, acquired Planned Benefit Services Inc., a Dallas-based employee benefits division of Foster Financial Group.
Established in 1988, Planned Benefits offers employee benefits programs and client resources including health insurance for corporate and consumer-driven plan designs, cost containment strategies, HR administration resources, wellness services and custom benefit communications.
Myles Mendenhall, managing partner, will join Sleeper Sewell as executive vice president. Mendenhall and the Planned Benefits agency associates will move to the Sleeper Sewell location in Dallas.
Founded in 1962 by Dwight Sleeper, Sleeper Sewell Insurance Services Inc. is a division of ANBTX Insurance Services, a wholly owned subsidiary of American National Bank of Texas.
The Carlyle Group, EPIC
Edgewood Partners Insurance Center announced that funds managed by global alternative asset manager The Carlyle Group have agreed to acquire a controlling equity stake in the company. The investment is subject to customary regulatory approvals and is expected to close at year-end. Terms of the deal were not disclosed.
Carlyle’s investment will enable EPIC to continue to execute its organic growth strategy and to support strategic acquisitions of complementary insurance distribution platforms throughout the country, the company said.
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