H.W. Kaufman Group has acquired Dallas-based premium financing firm, Stonemark Inc., with plans to merge it into Kaufman subsidiary, Royal Premium.
The merger will create a new organization under the Stonemark brand. Stonemark recorded more than $125 million in annual loan volume in 2017, according to Kaufman’s announcement.
Elizabeth Davies, who serves as Stonemark’s CEO and whose family founded the company more than 30 years ago, will lead the combined organization as president. Laura Tate, who served as COO, will assume the role of chief administrative officer.
Stonemark will maintain the group’s associates at its current location in Dallas, Texas. The Royal Premium Detroit/Farmington Hills, Mich., office will operate under the Stonemark name.
The new Stonemark organization expects to offer superior insurance premium financing services for the property and casualty (P&C) broker or agent in commercial, professional, and personal lines. As part of the acquisition, Stonemark will also deploy premium financing specialists throughout more than 60 Kaufman and Burns & Wilcox offices.
This marks the 18th acquisition by H.W. Kaufman Group since 2010.
Founded in 1969 and headquartered in Metro Detroit, H.W. Kaufman Group also includes: Burns & Wilcox, Burns & Wilcox Brokerage, Burns & Wilcox Canada, Burns & Wilcox Re, Atain Insurance Companies, Afirm, Global Excess Partners, R.B. Jones, Stonemark, Minuteman Adjusters, and London-based, Chesterfield Insurance Brokers, Lochain Patrick, and Cranbrook Underwriting.
Source: H.W. Kaufman Group
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