Business Moves

June 15, 2020

East

Alera Group, Georgetown Insurance Services

Alera Group, a national employee benefits, property/casualty, retirement services and wealth management firm, has acquired Georgetown Insurance Service Inc.

The Georgetown Insurance team will continue serving clients in their current roles following the acquisition.

Headquartered in Silver Spring, Md., Georgetown Insurance has served clients throughout the state and the surrounding region for decades. Georgetown Insurance works closely with the construction, manufacturing, real estate and transportation industries, in addition to providing clients with specialty offerings and enhanced services.

With more than 80 firms across the country and nearly 2,000 teammates, Alera Group works together to deliver solutions in employee benefits, property/casualty, retirement services and wealth management.

World Insurance Associates, Martin & Rowland Insurance

World Insurance Associates LLC has acquired Martin & Rowland Insurance Inc. of Prospect, Conn., on April 1.

Established in 1845, Martin & Rowland Insurance Inc. is a full-service, independent insurance agency.

WIA is headquartered in Tinton Falls, N.J., and is a full-service insurance brokerage providing asset and lifestyle protection with risk management, insurance and benefit consulting services for individuals and businesses. Since its founding in 2012, WIA has completed 57 acquisitions and serves its customers from 40 offices in 10 states and Washington, D.C.

SecureRisk Insurance Agency, Satellite Agency Network Group

SecureRisk Insurance Agency has recently joined Satellite Agency Network Group Inc., an alliance of independent insurance agencies in the Northeast.

The Burlington, Mass., agency will specialize in small business and offer personal insurance such as home, auto, flood, business, general liability, workers’ compensation and life policies.

Jenish Thakkar, owner, is licensed in property and casualty insurance in Massachusetts. She started in 2014 as a producer with Allstate, running the agency and managing its four staff before joining her husband at NY Life Insurance, working as a producer and selling personal and commercial insurance with him for four years.

Jenish’ brother-in-law Ajay Thakkar has recently joined the business, moving from Australia with a real estate management and sales background. He is now licensed to sell property and casualty insurance in Massachusetts.

SAN Group Inc. has more than 380 members across eight states. It is the founding master agency of SIAA, a national alliance of independent insurance agencies.

IMA Financial Group, ESS NexTier Insurance Group

IMA Financial Group, a national insurance brokerage firm specializing in property and casualty insurance, employee benefits and surety bonds, has completed its acquisition of ESS NexTier Insurance Group, a similarly structured practice with four offices throughout Pennsylvania.

The acquisition expands IMA’s energy practice. ESS NexTier adds natural gas capabilities to IMA’s existing expertise, including onshore and offshore operations and international exploration. It also establishes a Northeastern presence for IMA, which has its main offices in Colorado, Kansas, Texas and Michigan.

ESS NexTier’s 35 current employees and its four locations across Pennsylvania – in Butler, Pittsburgh, and two in Kittanning – will continue operations as IMA | ESS. In the new organization, Charles “Chip” Echnoz will serve as president of IMA | ESS – Pittsburgh, Rick Putnam as senior executive vice president of IMA | ESS and Watson Barker as executive vice president of IMA | ESS.


Midwest

High Street Insurance Partners, Trust Shield Insurance Group, Ken Bleeker Insurance Agency, Gates-Cole Associates

Traverse City, Michigan-based High Street Insurance Partners, has acquired three additional agencies — two in Michigan and one in New York.

These new agency partners are: Trust Shield Insurance Group in Schoolcraft, Michigan; Ken Bleeker Insurance Agency in Martin, Michigan; and Gates-Cole Associates in New Hartford, New York.

Founded in 1993, TSIG operates three offices in West Michigan. In addition to individual customers, TSIG has a client base that includes Michigan-based companies in the energy, landscaping, and agriculture industries.

Bleeker Insurance provides services to clients statewide and specializes in personal and commercial lines of property and casualty insurance, group and individual health coverages, and individual life insurance. Brian Bleeker, president, will remain in his current role and active in the business.

Gates-Cole Associates is a central New York-based insurance agency with nine offices in the greater Syracuse area. The agency sells property/casualty insurance plans to employers and individuals in New York state. President Bill Cole and Vice President Tom Cole will remain active in the business in their current roles.

High Street, one of 15 Huron Capital ExecFactor initiatives, was created to pursue growth through add-on acquisitions in the insurance agency market.

M3 Insurance, TechAssure

TechAssure, an international nonprofit association of insurance and risk management experts for technology-related risks, has added Madison, Wisconsin-based M3 Insurance as a new member.

M3 employs more than 300 people from seven locations throughout Wisconsin and the Midwest.

TechAssure is a consortium of risk management experts serving innovative industries, such as technology, telecommunications, life sciences, clean tech, as well as the venture capital and private equity firms that fund them. Comprised of over 30 specialist firms located in strategic locations across the world, TechAssure members collectively serve over 5,000 tech-industry clients and represent over $10 billion in premium volume.

Midwest Insurance Agency Alliance, Skyline Risk Management

Midwest Insurance Agency Alliance Inc., a network of independent insurance agencies across seven states, has added Skyline Risk Management of Independence, Missouri, as a member of the agency group.

Skyline Risk Management was founded by President Daniel Cooper and specializes in educating clients on their insurance needs and finding the best coverage for them. The insurance agency offers personal and commercial insurance, including home and auto, recreational, renters and business insurance.

Founded in 2001, Midwest Insurance Agency Alliance Inc. has more than 200 independent agency members located in Nebraska, Kansas, Missouri, Iowa, North Dakota, South Dakota and Minnesota. MIAA is a wholly owned subsidiary of SIAA and one of its 48 regional master agencies.


South Central

Service American Indemnity, Tangram Insurance Services

Service American Indemnity Co., a national workers’ compensation carrier, is partnering with Tangram Insurance Services Inc., a managing general underwriter and program manager, to enhance Tangram’s Social Service Workers’ Compensation Program. SAIC is a subsidiary of Texas-based Service Insurance Holdings Inc.

A national carrier, SAIC offers California-based Tangram the opportunity to provide competitive workers’ compensation insurance to thousands of social service organizations across the country, the companies said.

SAIC has specialized in workers’ compensation for close to 40 years and operating with a strong infrastructure to add bench strength to Tangram’s already well established, flagship program.

In 2018, SIHI, parent of Texas-based workers’ compensation insurer Service Lloyds Insurance Co., acquired American Healthcare Indemnity Co. (AHIC), an Oklahoma-based insurer, which was rebranded as Service American Indemnity Co. Service Insurance Holdings is wholly owned by the Gray Family. Service American Indemnity Co. and Service Lloyds are rated A-VIII (Excellent) by A.M. Best.

Sleeper Sewell Insurance, Insurors Group

Dallas-based independent insurance agency, Sleeper Sewell Insurance, has joined Insurors Group LLC, an alliance of independent insurance agents in Texas.

Sleeper Sewell Insurance was originally founded as Dwight Sleeper & Company in 1962 by Dwight W. Sleeper, Jr. In 2006, the agency became a wholly owned subsidiary of The American National Bank of Texas and operated as Sleeper Sewell Insurance Services Inc. (a division of ANBTX Insurance Services).

Since 2009, Sleeper Sewell has been operated by Von E. Breaux, president, and Jeri Payne, chief operating officer. In 2018, the agency partnered with industry veteran D. Michael Sherman, owner of DMS Insurance Holdings LLC to complete an asset purchase of ANBTX Insurance Services.

The privately held, independent insurance agency now operates as an LLC under its former name, Sleeper Sewell Insurance.

The Insurors Group based in Austin, Texas, has 12 other member agencies located around the state.


Southeast

AssuredPartners, Cypress Insurance Group

AssuredPartners, Inc. has acquired Cypress Insurance Group, Inc. of Fort Lauderdale, Fla.

The team of 20 will remain under the operational leadership of Terry Bond and Debbie Arciola. The agency currently reports $3 million in annualized revenues.

AssuredPartners Regional President Jack Suber, said the move will allow the company to expand further in the Florida marketplace.

Headquartered in Lake Mary, Fla., and led by Jim Henderson and Tom Riley, AssuredPartners, Inc. acquires and invests in insurance brokerage businesses (property and casualty, employee benefits, surety and MGU’s) across the United States and in England.

From its founding in March of 2011, AssuredPartners has grown to over $1.5 billion in annualized revenue with over 180 offices in 30 states and England.

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Insurance Journal West June 15, 2020
June 15, 2020
Insurance Journal West Magazine

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