Business Moves

February 19, 2018

Allianz, Liberty International

Allianz Global Corporate & Specialty (AGCS) is acquiring the renewal portfolio of Liberty Mutual Insurance’s U.S. product recall and special contingency business. The effective date is Jan.30, 2018.

The business being acquired was written through Liberty International Underwriters (LIU) U.S., which is exiting the field.

AmWINS, Seacoast Brokers, Trident Claims Management

AmWINS Group Inc. has completed the previously announced acquisition of Seacoast Brokers, LLC, and Trident Claims Management, LLC.

Seacoast is a South Carolina-based personal lines specialty MGA that designs, distributes and services surplus lines homeowners’ business throughout the United States. Trident is a licensed third-party claims administrator which manages claims on all Seacoast-issued policies.

Seacoast and Trident will become part of AmWINS’ Access division, a nationwide delegated authority business focused on small commercial property and casualty and personal lines.

Terms of the transaction were not disclosed.

Kaplansky Insurance, Malcolm Insurance Agency

Kaplansky Insurance has acquired Anthony and Malcolm Insurance Agency in Bradford, Mass.

Founded in 1919, Anthony and Malcolm Insurance provides a range of insurance services to both personal and commercial clientele.

Founded in 1974 and head

quartered in Needham, Mass., Kaplansky Insurance provides a full range of personal and commercial insurance products.

The addition of Anthony & Malcolm marks the 28th acquisition for Kaplansky.

Risk Strategies Co., Benefits Network Insurance Agency

Risk Strategies Co., a privately held national insurance brokerage and risk management firm, has acquired Benefits Network Insurance Agency (BNIA), a specialist brokerage focused on the development of employee benefits plans. Terms of the deal were not disclosed.

Headquartered in Cincinnati, Ohio, with additional offices in Dayton, BNIA was founded in 1989 by Phil DiCiero as a wholesale broker providing services to the small group business of Blue Cross Blue Shield’s independent agents. BNIA added its own retail service capability in 1993 and its business today is almost equally balanced between retail group insurance sales and wholesale brokerage.

In building out its wholesale business, the company expanded its footprint to represent Anthem Blue Cross Blue Shield, Humana, Medical Mutual of Ohio, United Healthcare, Principal Financial and Aetna.

Risk Strategies has offices in more than 45 locations nationwide.

Universal Insurance Agency, Ledbetter Insurance Agency

Universal Insurance Agency, a First United company, has merged with Ledbetter Insurance Agency LLC. Both companies are located in Oklahoma City.

According to announcement, the merger creates one of the largest independent insurance agencies in Oklahoma City.

Universal Insurance has been a wholly owned subsidiary of First United Bank since 2014, and offers commercial insurance, personal insurance and employee benefits in communities throughout Oklahoma and Texas.

Ledbetter was founded in Oklahoma City in 1918.

Seeman Holtz Property & Casualty, Fifth Avenue Healthcare Services

Seeman Holtz Property & Casualty Inc. has acquired Fifth Avenue Healthcare Services, headquartered in Tulsa, Oklahoma.

For over 20 years, Fifth Avenue has curated relationships with various networks, health plans, hospitals, surgery centers, state/federal agencies, and medical malpractice insurance carriers to get the lowest rates and best plans to their clients.

The acquisition is part of Seeman Holtz’s expansion strategy of acquiring specialty commercial and professional liability agencies with specific expertise to enhance their portfolio of companies.

Seeman Holtz Property & Casualty is headquartered in Boca Raton, Florida.

Eastern Insurance Group, Southeastern Insurance Agency

Eastern Insurance Group LLC, a Natick, Mass.-headquartered, wholly-owned subsidiary of Eastern Bank, has acquired the assets of the Southeastern Insurance Agency Inc., a full-service insurance agency with locations in North Dartmouth and Hyannis, Mass.

The transaction was effective January 1, 2018, when all of Southeastern’s staff became Eastern employees.

Eastern will rebrand Southeastern’s offices over the next six-to-12 months and has plans for the acquired operation to continue to expand.

The deal marks the 41st acquisition for Eastern Insurance.

Was this article valuable?

Here are more articles you may enjoy.

From This Issue

Insurance Journal West February 19, 2018
February 19, 2018
Insurance Journal West Magazine

Agency Salary Survey Results; Markets: Marinas & Boat, Agribusiness / Farm & Ranch