Business Moves

December 7, 2020

National

Insurity, CodeObjects

Insurance systems and data analytics provider Insurity reported that it has completed the acquisition of California-based CodeObjects, which offers a management program for personal lines.

The deal expands Hartford-based Insurity’s portfolio of products that is focused on commercial lines.

The acquisition was completed on November 6, 2020.

CodeObjects’ flagship product is InsuranceEnterprise, an end-to-end policy, billing, and claims suite, featuring tools that simplify implementation and enable self-service. CodeObjects also offers an artificial intelligence-powered virtual assistant, InsurBot. Leveraging IBM Watson technology, InsurBot enables insurers to deliver improved and differentiated customer experiences.

This is the fifth acquisition announced in the last year for Insurity. The others have been SpatialKey, Epic-Premier and Virtual MGA, Bill It Now.


East

Worldwide Facilities, Hunt Jorgensen

Worldwide Facilities LLC, a national wholesale insurance broker, managing general agent and program underwriter, has acquired Hunt Jorgensen LLC, a managing general underwriter specializing in professional liability insurance and related risk management services.

Hunt Jorgensen LLC is headquartered in Maywood, N.J., and focuses on providing professional liability insurance products and services through its CPAGoldTM, LawGoldTM, AdvisersGoldTM and FiremarkTM programs to accountants, consultants, lawyers – including intellectual property lawyers – and registered investment advisors.

Following the transaction, Hunt Jorgensen’s Maywood, N.J. office will be led by Dave Collins, senior vice president for Worldwide Facilities. Collins is a professional liability underwriter and program manager, as well as a licensed attorney. He has spent the past 11 years focusing on all aspects of professional liability programs, including development, underwriting, management, claims and coverage.

Marsh, Berry & Company Inc. served as a financial advisor to Worldwide Facilities in this transaction.

World Insurance Associates, Paul Global Benefits

World Insurance Associates LLC has acquired Paul Global Benefits Inc. of Syosset, N.Y., on September 1, 2020.

PGB is an employee benefits consulting firm specializing in health/welfare and retirement services in the large group market in the U.S. and around the world. PGB’s client base consists of global multi-national companies in various industries such as technology, business services, engineering, mining, hospitality, banking, consumer products and more.

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 74 acquisitions.

Giordano, Halleran & Ciesla provided legal counsel to WIA, and Sica Fletcher advised WIA on the transaction. Helfer & Associates advised PGB, and Schwell Wimpfheimer & Associates provided legal counsel to PGB.

Hub International Limited, WFG Benefits

Global insurance brokerage Hub International Limited has acquired the assets of WFG Benefits Inc.

Located in McLean, Va., WFG Benefits Inc. is an insurance and employee benefit planning firm with more than 30 years of experience providing businesses, associations, professional firms and institutions in the Mid-Atlantic region with benefits solutions.

Headquartered in Chicago, Ill., Hub International Limited is a full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services.


Midwest

World Insurance Associates, Alliance Insurance Group

World Insurance Associates LLC has acquired LIA Great Bend Inc. (d/b/a Alliance Insurance Group) of Salina, Kan.

Led by CEO Cody Smith, Alliance is a full-service insurance agency that provides property/casualty insurance products including homeowners, personal automobile, workers’ compensation and commercial package. Alliance has grown organically and through acquisitions (17 total) over the past 10 years, currently operating out of 14 offices across Kansas and Oklahoma.

Giordano, Halleran & Ciesla provided legal counsel and Sica Fletcher advised WIA on the transaction. Clark, Mize & Linville provided legal counsel and INS Capital advised Alliance on the transaction.

World Insurance Associates LLC is headquartered in Tinton Falls, N.J.

Hub International, United Shortline Insurance Services

Hub International Limited, a Chicago-based global insurance brokerage, acquired the assets of United Shortline Insurance Services Inc. in Port Austin, Mich.

USIS specializes in the shortline and regional railroad insurance program and association market and has remained exclusively focused on the insurance needs of the shortline railroad industry for more than 30 years.

Hub said USIS will complement and strengthen its growing rail practice in Kansas City, Missouri.

Louis Schillinger, owner and CEO of USIS, will join Hub Mid-America and report to Paul Cohen, area president of Hub in Kansas City, Missouri.


South Central

Baldwin Krystyn Sherman Partners, Insgroup

BRP Group Inc. subsidiary, Baldwin Krystyn Sherman Partners LLC, has agreed to acquire all of the outstanding equity interests of Insgroup Inc. a Houston, Texas-based provider of commercial property/casualty insurance, employee benefits, private risk services and surety to middle-market companies and individuals.

With annual revenues of approximately $38.5 million, Insgroup represents the largest new partnership in BRP Group’s history. Insgroup President and Chief Executive Officer Brian Kapiloff will serve as a regional president within BRP Group’s middle market operating group.

Insgroup brings to BRP Group approximately 160 colleagues across four offices in Houston, Dallas, Addison and Austin. Insgroup provides risk solutions to clients across a broad range of industries, with particular strengths in real estate, manufacturing, financial services, construction and development and professional and industrial services.

MarshBerry acted as exclusive financial advisor to Insgroup in the transaction.

RSG Underwriting Managers, Trident Marine Managers, Global Special Risks

RSG Underwriting Managers LLC has consolidated two of its current managing underwriting manager businesses, Houston-based Trident Marine Managers and Global Special Risks, and created a new practice vertical, Marine and Traditional Energy.

Both managing general underwriting companies will keep their name brands and will fall under the newly created Marine and Traditional Energy Practice run by Jorge Pecci, RSG Underwriting Managers Marine and Traditional Energy head.

Trident and GSR combined are headquartered in Houston and have additional offices in New Orleans, La., Lodi, Calif., and Boston, Ma., with total annual premiums in excess of $75 million.

RSG Underwriting Managers LLC is a subsidiary of Chicago-based Ryan Specialty Group LLC (RSG).


Southeast

HUB, Leading Edge Benefit Advisors & Affiliates

HUB International Limited has acquired the assets of Leading Edge Benefit Advisors, LLC, Raimey, Corp., Leading Edge Human Resource Services, LLC, Leading Edge Companies, LLC, Leading Edge Financial Group, LLC, Leading Edge Retirement Plan Advisors, LLC and Leading Edge Wealth Advisors, LLC (collectively, Leading Edge).

Located in Fort Myers, Fla., Leading Edge specializes in employee benefits and retirement planning and wealth management solutions. Donald C. Raimey, Jr., founder and managing member of Leading Edge, and Kerri Sisson, Leading Edge’s Managing Partner, will continue to support the business and its clients and report to Scott Millson, President, Employee Benefits, HUB Florida.

Headquartered in Chicago, Ill., Hub is a full-service global insurance broker.

Hub, Larry Dean Massey, Jr.

Hub International Limited has acquired the insurance brokerage assets of Larry Dean Massey, Jr.

With legacy operations in Memphis, Tenn., and now in Oxford, Miss., Massey offers insurance and risk management services to clients with a focus on various industries, including construction, hospitality and oil & gas, which complements and strengthens Hub’s current specialty practice capabilities.

The move also adds to Hub’s North Mississippi presence.

Massey will join Hub Gulf South and report to Shaun Norris, president of the region.

Headquartered in Chicago, Hub provides risk management, insurance, employee benefits, retirement and wealth management products and services.


West

Hub, The Vitolo Company

Hub International Limited has acquired the assets of The Vitolo Co. in Seattle, Wash.

Mike Vitolo, founder and president of The Vitolo Co., as well as the Vitolo team, will be joining Hub Northwest.

The Vitolo Co. is an independent insurance agency that provides employee benefits, group benefit planning and compliance consulting.

Headquartered in Chicago, Hub provides risk management, insurance, employee benefits, retirement and wealth management products and services.

R.E. Chaix & Associates, Rancho Pacific

R.E. Chaix & Associates Insurance Brokers has acquired Rancho Pacific Insurance Services in California.

Founded by Tracy Prettyman, Rancho Pacific Insurance Services is a wholesale brokerage specializing in commercial general liability, property, inland marine, business owners policies, lessors risk, commercial auto, workers’ compensation and garage.

R.E. Chaix & Associates is headquartered in Orange County, Calif., and has multiple locations throughout California while licensed to do business in all 50 states.

R.E. Chaix & Associates offers products in property/casualty, professional liability, commercial auto, workers’ comp, environmental, inland marine/marine, garage, oil and gas, personal lines, cannabis and special programs.

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