Business Moves & Mergers News

Cigna Eyes Sale of Group Life, Disability Business to Concentrate on Health: Reuters

U.S. health insurer Cigna Corp is exploring a sale of its group benefits insurance business, which could be valued at as much as $6 billion, four people familiar with the matter said on Tuesday. The unit for sale offers disability …

The Hilb Group Acquires Tennessee’s Mackie Financial Group

The Hilb Group LLC (THG) has acquired Tennessee-based Mackie Financial Group LLC (MFG). The transaction became effective August 1, 2019. MFG is a full-service agency primarily providing insurance for employee benefits, Medicare Supplemental/Advantage, individual life and annuities. As part of …

Abry Partners Agrees to Acquire Portfolio in California from Capital Z

Abry Partners has agreed to acquire Lake Forest, Calif.-based Portfolio Holding Inc. from Capital Z Partners LP. The deal is subject to normal and customary closing conditions. Terms were not disclosed. All of Portfolio’s current management team will remain in …

Arch Insurance to Buy Coastal Commercial Property MGU Ventus Risk Management

Arch Insurance North America has agreed to acquire Ventus Risk Management, a technology and analytics-driven managing general underwriter that specializes in providing coastal commercial property insurance solutions to small and mid-sized enterprises. Ventis, founded in 2016, has 30 employees and …

Hub International Hires New Jersey’s Allain, Acquires His Book of Business

Hub International Limited, a global insurance brokerage, has hired disability insurance specialist Brian Allain and acquired his book of business. Based in Paramus, N.J., Allain provides group and executive disability product solutions to healthcare professionals. Further strengthening Hub’s Healthcare specialty …

In Texas, Higginbotham and Exploration Insurance Group Merge

Fort Worth, Texas-based Higginbotham and Exploration Insurance Group (EIG) have merged their operations in Tyler, Texas. EIG opened in 2013 in Tyler to meet the east Texas region’s growing need for industry specific insurance. The independent seven-person agency brokers commercial …

Brightway Insurance to Open Four Stores in Florida, South Carolina, Colorado

Brightway Insurance will open four new stores in Florida, South Carolina and Colorado on Monday, August 19. Alex McGregor opened Brightway, The McGregor Agency in Deerfield Beach, Fla., Lisa Jewell opened Brightway, The Lisa Jewell Agency in St. Petersburg, Fla., …

Two Florida Independent Agencies Join Renaissance Alliance Insurance Services

Renaissance Alliance Insurance Services, a membership alliance for independent insurance agencies, has announced that two Miami, Fla.-based independent insurance agencies have recently joined the Alliance. Gil & Associates Insurance Consultants Inc., a family-owned and operated independent agency established in 2004, …

Brown & Brown of Massachusetts Acquires Assets of Yozell

Brown & Brown of Massachusetts LLC has acquired substantially all of the assets of Yozell. Founded in 1960 by Peter Yozell, Yozell Associates strives to provide its customers with value in group employee and executive benefits products and services. Following …

Hub International Limited Acquires Assets of Insurance Center of New England

Hub International Limited (Hub), a global insurance brokerage, has acquired the assets of Insurance Center of New England Inc. (ICNE). Terms of the transaction were not disclosed. With locations in Agawam and Gardner, Mass., ICNE is a locally owned, independent …