Business Moves

June 4, 2018

Ascot US, Greyhawk Insurance

Ascot US Holding Corp. has acquired Greyhawk Insurance Co. and its subsidiary, Grey-hawk Specialty Insurance Co.

Greyhawk is a Colorado domiciled admitted lines insurer that has been in runoff since 2006. Greyhawk Specialty is a dormant Rhode Island domiciled excess and surplus lines insurer. The acquisitions are subject to regulatory approvals.

The Greyhawk companies will expand Ascot’s U.S. platform and increase access to the U.S. insurance markets.

Ascot Group Ltd. is a Bermuda domiciled global specialist in insurance and reinsurance. The group compromises three divisions: Ascot Underwriting, a managing agent for Syndicate 1414 at Lloyd’s; Ascot Reinsurance Co., a Bermuda based specialty reinsurer; and Ethos Specialty Insurance Services, a New York based managing general agent.

Mark Edward Partners, Kaplow Insurance Agency

Mark Edward Partners, an independent, full-service, international insurance brokerage firm, has acquired the Kaplow Insurance Agency, a Chappaqua, N.Y.-based firm.

The Kaplow team brings understanding of the equine industry to Mark Edward Partners as its newest specialty unit, Mark Edward Equine. Evan Kaplow will lead the unit.

Mark Edward Equine’s expertise includes the risk management issues associated with performance, racing and breeding horses, the management of farms, ranches and other sport horse and bloodstock training facilities. It also extends to the rodeo and bucking sports industry, providing coverage on both equine and bovine athletes.

USI, Key Insurance & Benefits Services, CHS Insurance

USI Insurance Services has closed its acquisition of Key Insurance & Benefits Services Inc., formerly part of KeyBank. Terms of the transaction were not disclosed.

USI is a Valhalla, N.Y.-based insurance brokerage and consulting firm delivering property and casualty, employee benefits, personal risk, program and retirement solutions to large risk management clients, middle market companies, smaller firms and individuals.

Headquartered in Buffalo, N.Y., Key Insurance & Benefits Services Inc. is a regional provider of risk management and employee benefit solutions with 350 teammates working in eight offices in upstate New York, Pennsylvania and Connecticut.

Together, USI and Key Insurance & Benefits Services are investing and expanding in communities including Buffalo, Rochester, Pittsburgh, Norwalk and cities across New York, Connecticut, Pennsylvania and across the country.

USI also has closed the acquisition of CHS Insurance, formerly part of Minnesota-based CHS Inc.

CHS Insurance is one of the nation’s largest agribusiness insurance brokers and a nationwide insurance provider. It has provided insurance and risk management solutions to agribusiness, food processing, petroleum and agricultural cooperatives for 80 years.

Terms of the transaction were not disclosed.

Prime Risk Partners, Roblin Insurance

Prime Risk Partners Inc. has finalized its acquisition of Roblin Insurance, an independent insurance agency in the Boston area providing commercial, personal, and employee benefits risk management.

Roblin Insurance will maintain its name and will continue operating at its existing location in Needham, Mass. The Roblin leadership team and employees will remain in their current roles.

The partnership with Roblin signifies PRP’s entrance into the New England market, with Roblin serving as PRP’s regional platform. PRP and Roblin will work to grow Roblin’s operation through investing in insurance professionals and finding complementary agency acquisitions.

Prime Risk Partners, headquartered in Atlanta, is building a national platform founded with regional agencies.

Roblin Insurance offers business and personal insurance such as property and casualty, as well as employee benefit programs, including review, design, and administration of programs and workers’ compensation.

G.M. Abodeely Insurance Agency, Smith Brothers

G.M. Abodeely Insurance Agency has merged its business with Smith Brothers Insurance of Glastonbury, Conn.

This combination allows the Abodeely Agency to maintain its presence as an independent local agent and use the resources of Smith Brothers, a national Top 100 independent broker.

Bill Abodeely and Elaine Saliba, principals of Abodeely Agency, and Shelley Zicolella, director of operations, together with the account management team, will operate out of the agency’s Massachusetts locations in Milford, Westborough, Webster, West Springfield and Fitchburg under the name G.M. Abodeely Insurance Agency, an affiliate of Smith Brothers Insurance.

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Insurance Journal West June 4, 2018
June 4, 2018
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