Business Moves

October 5, 2015

Vanner Insurance, Edmund D. Stevens

Vanner Insurance Agency, an independent agency based in Amherst, N.Y., recently acquired Buffalo, N.Y.-based agency Edmund D. Stevens Inc. and its marine division, Stevens Marine Insurance Agency. Terms of the transaction were not disclosed.

Under the deal, Edmund D. Stevens Inc. and Stevens Marine Insurance Agency will become a division of Vanner Insurance Agency.

Brit, Ambridge Partners

Brit Limited, a global specialty insurer and reinsurer based in London, has made a significant investment in Ambridge Partners LLC, a New York-based managing general underwriter of transactional insurance products and a key trading partner of Brit for the past nine years. The amount of the investment was not disclosed.

Ambridge will retain its independence, continuing to underwrite as a managing general underwriter on behalf of its existing broad consortium of Lloyd’s syndicates and international insurers. The transaction is subject to regulatory approvals and expected to close in the fourth quarter.

Ambridge specializes in transactional insurance products with a team of 29 employees based in New York and London. Vista Equity, Solera

Solera, based in Westlake, Texas, is being acquired by an affiliate of private equity firm Vista Equity Partners for about $3.74 billion in cash.

The company, which makes insurance claims software, said in August that it was exploring a sale. The companies put the deal’s value at about $6.5 billion, including debt. Solera’s board unanimously approved the acquisition.

The transaction is targeted to close no later than 2016’s first quarter. It still needs approval from Solera shareholders.

Hilb Group, JWB Insurance

The Hilb Group LLC acquired JWB Insurance Group, an independent agency in Wilmington, N.C. The transaction became effective Aug. 1. The terms of the deal were not disclosed.

JWB Insurance Group is The Hilb Group’s seventh acquisition in 2015 and will continue operating under its current leadership.

JWB Insurance has 22 employees and all employees will stay on after the transaction.

The Hilb Group is a middle market insurance agency headquartered in Richmond, Va., and is a portfolio company of Boston-based private equity firm, ABRY Partners.

USG, US Assure

Allied American Underwriters, a subsidiary of USG Insurance Services Inc., acquired the renewal rights on several books of business from Jacksonville, Fla.-based US Assure.

The terms of the acquisition were not disclosed.

With this acquisition, Allied American Underwriters is opening a new office in Jacksonville. Leading the new office is Michelle Huitt, production manager, who comes to Allied American Underwriters from US Assure where she was underwriting manager. Marie Maxwell and Tiffany Batten, producer/brokers, will also be joining Allied American Underwriters from US Assure where they served as underwriters.

Allied American Underwriters is a specialty product provider and commercial lines program manager.

Auto-Owners, Atlantic Casualty

Strickland Insurance Group Inc. has reached a definitive agreement for Atlantic Casualty Insurance Co., based in Goldsboro, N.C., to be acquired by Auto-Owners Insurance Group of Lansing, Mich.

The acquisition is subject to customary closing conditions, including receipt of regulatory approvals, and is expected to close in the fourth quarter of 2015.

Strickland Insurance Group formed Atlantic Casualty in 1983 and currently has offices in Goldsboro; Scottsdale, Ariz.; Hartford, Conn.; and Philadelphia, Pa.

Auto-Owners Insurance has been providing auto, home, life and business insurance since 1916 and operates in 26 states.

U.S. Risk, Strategic Program Managers

U.S. Risk Insurance Group Inc. has entered into an agreement involving the acquisition by U.S. Risk of an undisclosed ownership interest in Florida-based Strategic Program Managers, a specialist trucking MGA and broker. The combined premium volume in this class will exceed $60 million.

U.S. Risk Insurance Group Inc. is a specialty lines underwriting manager and wholesale broker headquartered in Dallas.

Strategic Program Managers d.b.a. Strategic Insurance Underwriters specializes in underwriting, marketing, and administering commercial transportation insurance programs in the Midwest and Southeast.

Hub, Howitt Benefit Services

Hub International Ltd. has acquired the assets of Howitt Benefit Services in San Jose, Calif.

Nancy Howitt, Howitt’s president and client service supervisor, will join Hub California and report to Darren Caesar, senior executive vice president of Hub California.

Howitt provides employee benefits solutions. Hub is a global insurance brokerage.

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Insurance Journal West October 5, 2015
October 5, 2015
Insurance Journal West Magazine

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