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MAINsheet Mergers and Acquisitions in Insurance News

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					MAINsheet Mergers and Acquisitions in Insurance News
42 MAIN events: Advisen’s new MAINsheet details Mergers &
Acquisitions in Insurance News including transactions and “book of
business” purchases. This debut edition contains details from ACE;
AIG; Alliant; Ansay; Arthur J. Gallagher; Austin Mutual; Bollinger;
Brightstone; Brown & Brown; Brown & Riding / Alexander Morford &
Woo; Confie Seguros; Enstar; GCP Capital Partners; Greyling; Hub
International; Hylant; Integro; Marsh & McLennan Agency; People’s
United; Risk Strategies; RLI; RSA; R-T Specialty; Sedgwick CMS;
Tower Group; USI; Wells Fargo and Wright Risk.

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42 MAIN events

ACE Completed Acquisition of Rain and Hail Insurance Services
(December 28, 2010): This transaction was completed for
approximately $1.1 billion in cash. The purchase price reportedly
reflects a dollar-for-dollar adjustment as required under the merger
agreement to account for an increase to Rain and Hail’s book value
that occurred between December 31, 2009 and the closing of the
transaction.

AIG Will Sell Nan Shan to Consortium led by Reuntex Group
(January 12, 2011): AIG announced an agreement to sell its 97.57%
interest in Nan Shan Life Insurance Company to Ruen Chen
Investment Holding Co., a company owned 80% by the Ruentex
Group, the Taiwan-based conglomerate, and 20% by Pou Chen
Corporation, the Taiwan Stock Exchange-listed footwear
manufacturer, for $2.16 billion in cash. “The participants in the
consortium enjoy an excellent reputation in Taiwan. Ruen Chen offers
strong operational and funding capabilities and possesses a clear
ability to satisfy the strict criteria that governed AIG’s bid review
process,” said Robert Benmosche, AIG President and Chief Executive
Officer. “Consistent with these criteria, Ruen Chen has demonstrated
that it is able and willing to invest in Nan Shan’s future, and that it
will protect and serve the best interests of Nan Shan’s policyholders,
employees and agents.” The purchase agreement includes a number
of commitments that offer important protections for employees and
agents, including an agreement to maintain the existing compensation
and benefits package for employees and the existing agency
organizational and commission structure following the closing of the
transaction. Ruen Chen has also expressed its intention to retain the
current Nan Shan management team, as well as its long-term
commitment to maintain both its majority ownership in Nan Shan and
the Nan Shan brand. Established in 1963, Nan Shan is the largest life
insurer in Taiwan by total book value and the third largest by total
premiums, serving four million policyholders via an extensive network
of 24 branches, 500 agency offices, approximately 4,100 employees,
and more than 33,000 agents.

Alliant Acquires T&H Group (January 10, 2011): Alliant Insurance
Services has acquired New York City-based T&H Group, which
operated as Tanenbaum-Harber Co. until changing its name in 2010.
T&H was established in 1860 and primarily targets upper middle
market clients throughout the eastern region of the country. T&H
Group delivers full-service insurance capabilities to a diverse set of
clients through its operating subsidiaries that include T&H Brokers,
T&H Benefits, RFF & Associates, and Construction Insurance
Corporation and Surety Associates, Inc. T&H Group has 242
employees in offices in nine states: NY, NJ, CT, MA, PA, MD, IL, FL,
and CA. T&H Group is headed by CEO Walter Harris, who will serve
as Vice Chairman of Alliant and become a member of Alliant’s senior
management team. “The acquisition of such a well-established and
highly respected insurance brokerage company as T&H Group
represents tremendous opportunity for Alliant Insurance Services,”
stated Alliant CEO Tom Corbett. “T&H and Alliant are great strategic,
operational, and philosophical matches for each other on nearly every
level of business, from diversity of services to the specialized
industries we serve, to the size and type of clients we target, to our
respective commitments to providing highly responsive, personalized
service.” Contact Alliant SVP Lynda Lane at 949.260.5050 or
llane@alliantinsurance.com
Ansay & Associates Merges with Babbitt-Sholund (January 5,
2011): Ansay & Associates, a Port Washington, WI-based insurance
and benefit solutions agency, has merged with Babbitt-Sholund of
Neenah. The combined entity has nearly 200 employees, more than
$20 million in annual revenue and seven Wisconsin offices including
Port Washington, West Bend, Manitowoc, Little Chute, Green Bay and
Mosinee. “This strategic merger continues Ansay & Associate’s vision
of being a statewide insurance and benefits advisor giving peace-of-
mind to each of our customers by providing the best insurance and
benefit solutions to protect their futures,” said Mike Ansay, CEO of
Ansay & Associates.

Arthur J. Gallagher & Co. Acquires Aviation Insurance Holdings
(December 20, 2010): Established in 1977, Aviation Insurance
Services (AIS) is a retail insurance broker offering aviation and
aerospace insurance and related risk management services for their
clients around the world. They also specialize in insurance for aviation
parts and accessories manufacturers, aircraft management and
charter organizations and fixed-base operators. Ronald Hill and his
staff will continue to operate in their Nevada, Florida and Illinois
locations under the direction of James McFarlane, Western Regional
Manager of Gallagher's retail property/casualty brokerage operation.

Arthur J. Gallagher & Co. Acquires The Gleason Agency (January
10, 2011): This acquisition does not include Gleason Technology, Inc.,
which will continue to run independently. With roots dating back to
1910 in Johnstown, PA, the Gleason Companies are retail insurance
brokers providing commercial property/casualty, employee benefits
and risk management consulting services to their clients throughout
the United States. They specialize in insurance services for the food,
retail, education, public entity, defense and real estate industries.
Robert A. Gleason, Jr., Christopher K. Gleason and their associates
will continue to operate in their Johnstown, Pittsburgh and
Philadelphia locations under the direction of Douglas B. Brown,
Northeast Regional Manager of Gallagher's retail property/casualty
brokerage operation.

Austin Mutual Merges with Cooperative Mutual Insurance Co.
of Omaha (January 8, 2011): Austin Mutual Insurance Co. has
completed its merger with Cooperative Mutual Insurance Co. of
Omaha. The two companies announced the merger plan in October,
but had previously entered into an affiliation agreement last January.
Under that agreement, Austin provided Cooperative with capital and
took over management of the Omaha firm. During that time Austin
also decided to sell off Cooperative's high-hazard workers'
compensation business. That sale, to Amerisafe Inc., was completed
earlier this week, said Austin CEO Jeffrey Kusch. Austin continues to
offer low-hazard workers compensation insurance, he said. The
merger results in a single company with projected combined assets
under management of $178 million and direct written premiums of
$254 million. The Cooperative name is being phased out. Austin will
retain Cooperative's management, national distribution system,
workforce and its Omaha office. With this merger, Austin expands
Austin Mutual's geographic reach into Nebraska and Iowa and gets
the company into the commercial-agricultural insurance market.

Bollinger Adds The Woodland Group (January 10, 2011): The
Woodland Group, located in Sparta, NJ, has merged with Bollinger,
Inc. and will become Bollinger’s 6th NJ location. Woodland ranks in
the top 10% of independent insurance agencies in New Jersey and
employs 14 insurance professionals who have all joined Bollinger. The
firm’s healthcare division, headed by Tim Hoover, is a leading player
in the NJ medical malpractice arena. The Woodland Group’s Brian
Chrobock will be a Senior Vice President with Bollinger and will
manage the Sparta, NJ office. “We are excited to welcome The
Woodland Group to our organization,” said Bollinger CEO Jack
Windolf. “Their reputation and expertise in insuring healthcare
professionals and organizations will help solidify Bollinger’s growing
presence in this specialty area.” Contact Deb Meslar at 973.921.8071
or deb.meslar@bollingerinsurance.com

Brightstone Insurance Formed by KBS International
Corporation merger with Ice Group (December 1, 2010): Howard
and Peter Schlactus and their team at KBS International Corp., along
with Jeff Ice and his team, formerly with Oswald Logistics Insurance,
have joined together to form Brightstone Insurance Services, LLC and
the KBS-Ice Group. Brightstone has offices in New York, Cleveland,
Los Angeles and Seattle. "Our goal is to focus on the professionally-
minded firms in the industry and give them what we like to call an
'unfair advantage,'" stated Managing Director Peter Schlactus. "The
ability to control major cost items, like insurance, even as you are able
to offer your customers superior confidence and security, translates
into a competitive edge."

Brown & Brown Acquires Comcover Insurance Group (December
28, 2010): Brown & Brown and Comcover have entered into an
agreement for Brown & Brown of Florida to acquire substantially all
of Comcover's assets. Finalization of the transaction is subject to the
satisfaction of certain customary conditions. The transaction is
expected to close in early January 2011. With annualized revenues of
approximately $1.6 million, Comcover has provided property and
casualty and risk management products and services to business
owners since 2003. The firm specializes in products and services
tailored to clients in the wholesale, distribution, manufacturing,
lumber and building materials, transportation, and commercial
property ownership and development industries, among other
industries. After the closing, Anthony Johnson and his staff will join
Brown & Brown of Florida's existing Fort Lauderdale and Miami
Lakes, Florida profit centers, under the leadership of Michael Keeby
and Colin Lowe, respectively.

Brown & Brown Acquires Nies Insurance Agency (January 13,
2011): With annual revenues of approximately $2.7 million, Nies
Insurance Agency has served the personal, commercial, and employee
benefits insurance needs of clients in the greater Portland
Oregon/Vancouver, Washington area for 39 years. Jerry Nies and his
team will continue to serve their clients from their Camas and Battle
Ground, Washington locations, under the leadership of Tim Nielsen,
Vice President of Fullerton & Company. The transaction does not
include the joint venture between Nies Insurance Agency and iQ
Credit Union, which will continue to operate separately.

Brown & Riding and Alexander Morford & Woo Will Merge: Two
privately-owned wholesale insurance firms, Brown & Riding of Los
Angeles, CA and Alexander, Morford & Woo of Seattle, WA announce
that they will merge their operations. The combined entity will serve
retail brokerage clients throughout the US. Jeffrey Rodriguez will
serve as President and CEO of the combined entity, which will be
headquartered in Los Angeles, CA. Sam Alexander and Chris Brown
will be Co-Chairmen of the Board, and Peggy Stromme will serve as
COO. “By blending our organizations we can deliver more product
lines to more customers in a broader geographic area, and provide
our clients access to a deeper network of relationships,” explained
CEO Jeffrey Rodriguez. “We also believe this merger will allow us to
better serve clients on a national level and expand our business
organically and through a limited number of strategic transactions.”
Brown & Riding has deep expertise in the construction, healthcare,
and real estate markets, and Alexander, Morford & Woo (AMW) is a
market leader in management liability, professional lines,
underwriting, and property/casualty. AMW has offices in Seattle, WA;
Portland, OR; and Larkspur, CA; and Brown & Riding has offices in
Los Angeles and San Francisco, CA and Atlanta, GA. The new
company will operate in the Pacific Northwest as Alexander Morford
& Woo (yet-to be formalized, subject to DOI approval), representing
the AMW and Brown & Riding brands. In California and in parts of the
country where AMW does not have a major presence, the company
will operate under the Brown & Riding name.
Confie Seguros Acquirers Seguros Sin Barreras (January 12,
2011): Confie Seguros, a provider of auto insurance with an emphasis
on serving Hispanic consumers, has acquired Seguros Sin Barreras,
an insurance broker that serves Hispanic customers in 49 states.
Confie Seguros CEO John Addeo said, "Seguros Sin Barreras has a
great brand name and strong reputation among Hispanic consumers
and the combination of the company's assets with Confie Seguros'
extensive locations will create a powerful market leader that will
further expand our reach and enhance our ability to generate new
customers."

Enstar Announces Reinsurance Transaction and Acquisition
Closing (December 31, 2010): Enstar, a Bermuda company, acquires
and manages insurance and reinsurance companies in run-off and is
an insurance / reinsurance management & consulting firm. Enstar has
entered into a 100% reinsurance agreement, administrative services
agreement, and related transaction documents with three affiliates of
CIGNA Corporation pursuant to which the Enstar subsidiary has
reinsured all of the run-off workers compensation and personal
accident reinsurance business of those CIGNA affiliates. Pursuant to
the transaction documents, the CIGNA affiliates have transferred
assets into three reinsurance collateral trusts securing the obligations
of Enstar's subsidiary under the reinsurance agreement and
administrative services agreement. Enstar's subsidiary has
transferred approximately $50 million of additional funds to the trusts
to further support these obligations. Enstar funded the contribution to
the trusts through a draw on a new $115 million credit facility entered
into with Barclays Bank PLC on December 29, 2010. In addition to the
trusts, Enstar has provided a limited parent guarantee supporting
certain obligations of its subsidiary. The amount of the guarantee will
increase or decrease over time under certain circumstances, but will
always be subject to an overall maximum cap with respect to
reinsurance liabilities. Enstar also announced today that in a separate
transaction it has acquired Claremont Liability Insurance Company, a
California insurance company in run-off, for approximately $14
million. This transaction was completed on December 31, 2010.

GCP Capital Partners Has Purchased Southwest Risk (December
27, 2010): Houston International Insurance Group (HIIG) announces
the sale of its wholesale insurance broker subsidiary, Southwest Risk,
LP (SWR), to New York-based, private equity firm GCP Capital
Partners LLC (GCP). SWR is a wholesale broker in Dallas, TX
specializing in transactional placements of commercial property and
casualty insurance coverages using traditional and alternative risk
transfer strategies. HIIG will retain an equity interest in the new
company and Stephen Way will be Chairman of the Board. "The
liquidity that results from this transaction will be used for future
acquisitions of underwriting agencies and general corporate
purposes," said Stephen Way. CEO Bryan Wilburn and his
management team will continue to lead the company. GCP currently
manages five private equity funds totaling $1.9 billion in committed
capital.

Greyling Insurance Formed from Two Former Ames & Gough
Offices: Ames & Gough’s Atlanta and St. Louis Offices have become
Greyling Insurance Brokerage and Risk Consulting, Inc. Ames &
Gough is headquartered in Washington, DC with offices in Boston, and
Philadelphia.

Hub International has acquired Leeds Insurance Brokers Inc.
(December 20, 2010): Leeds is a full-service insurance brokerage in
Toronto, ON with over 30 years of niche expertise in several
industries, including hospitality and entertainment. Other key
industries and products available through Leeds include: commercial,
residential, condominiums, industrial, golf, sport, technology,
valuables, vehicles, watercraft, aircraft, bonds and surety, and health.
The Leeds operations will become part of HKMB Hub International
Limited (HKMB Hub). The Leeds management team of Ron Fritz,
President, and Peter Bekelis, Vice President, will join HKMB Hub,
reporting to Neil Morrison, President and Chief Executive Officer,
HKMB Hub.

Hub International Acquires Sander A. Kessler & Associates
(January 4, 2011): Hub International has acquired the shares of
Sander A. Kessler & Associates, Inc. (Kessler), a Santa Monica, CA-
based insurance brokerage firm. Kessler will become part of the Los
Angeles, CA operations of Hub. Steve Kessler, Ken Kessler, Joel
Davidowski and Lucille Shalometh, all principals at Kessler, will join
Hub California and report to William Roeder, Sr., EVP of Hub
California. Founded in 1956, Kessler is one of the largest, independent
full-service insurance agencies in California. Kessler currently
arranges insurance programs for a wide range of industries, including
manufacturing, seafood, meat processing, security guards, recycling,
and the solar industry. They are well-known for placing workers’
compensation risks, among other lines of coverage, for these
industries.

Hub International Acquires Hall-Conway-Jackson and Cascade
Insurance Group (January 4, 2011): Hub International has acquired
the shares of Hall-Conway- Jackson and the assets of Cascade
Insurance Group. Both are based in Bothell, WA. HCJ and Cascade,
who share a joint partnership, will become part of Hub International
Northwest Limited (Hub Northwest). The firms’ two key principals,
Thomas F. Jackson and Bob Schmidt, will join Hub Northwest as part
of this transaction, reporting to Andy Prill, President and CEO, Hub
Northwest. HCJ was founded in 1935 and offers middle market
property and casualty, employee benefits and personal lines products
and services to a broad customer base. In 1989, HCJ formed a joint
venture with Cascade to manage and develop both companies’ group
insurance business. Jointly, they are a full-service brokerage with
specialty program expertise in professional liability, restaurants,
product recall, and taverns. Their broad capabilities extend to large
commercial property developers, shopping centers, manufacturing,
and habitational real estate accounts. The acquisition of HCJ and
Cascade will continue to diversify Hub Northwest’s current customer
base, which includes numerous construction companies throughout
the Pacific Northwest and Alaska, given the firm’s deep expertise in
construction insurance and surety products.

Hub International Acquires Davis & Graeber Insurance Services
(January 4, 2011): Hub International has acquired the assets of Davis
& Graeber Insurance Services in Redlands, CA. The D&G team will
become part of the California operations of Hub International
Insurance Services (Hub California), and will remain in its existing
office. Peter Davis, Marty Davis and Beth Kolpien, the principals of
D&G, will join Hub California as part of this transaction. Established
in 1923, D&G is a full service agency, offering commercial lines,
employee benefits, and personal lines products and services to a
broad array of businesses and families in Redlands, Pomona, and
throughout the Southern California region.

Hub International Acquires Benefit Resources (January 4, 2011):
Hub International has acquired the assets of Benefit Resources in
Colorado Springs, CO. The BRI operations will become a part of the
Colorado operations of Hub International Insurance Services Inc.
(Hub Colorado). George Martin and Jeff Ahrendsen, the principals of
BRI, will join Hub Colorado, reporting to Matt Coleman, Chief Sales
Officer of Hub Colorado. The BRI team will remain in their existing
office in Colorado Springs.

Hub International Acquires Phoenix Insurance Group’s Grande
Prairie (January 5, 2011): Hub International acquired the assets of
Phoenix Insurance Group’s Grande Prairie Inc. in Grande Prairie,
Alberta in Canada. Grande Prairie is one of several Alberta-based
firms that make up the Phoenix Insurance Group (Phoenix). Grande
Prairie will become part of Hub International Barton (Hub Barton)
within the Hub International Canada West region. The three partners
of Grande Prairie, Bruce George, Mark Marcotte and Elizabeth
Fiegehen, will join Hub Barton as part of this acquisition, reporting to
Richard Burley, Vice President of Hub Barton. On December 21, 2010,
Hub announced that they have signed letters of intent to acquire
other operations within Phoenix, including Edmonton, Red Deer,
Hinton and Drayton Valley, in the first quarter of 2011. Established 12
years ago, Grande Prairie arranges commercial and personal lines
programs for a wide array of customers, with a niche in oil and gas
production, an area of targeted expansion for Hub Barton.

Hub International Acquires Farr Insurance Group (January 5,
2011): Hub International Limited has acquired the assets of Farr
Insurance Group (Farr) in Venice, FL. The Farr operations will become
a part of Hub International Northeast Limited and principals Latimer
and Cindy Farr will join Hub. The Farr team will continue to operate
out of their existing locations in Venice and Sarasota, Florida.
Founded in 1978, Farr works with approximately 10,000 clients
throughout the state of Florida, with a large concentration in Sarasota
County. Throughout the history of the firm, the agency has grown both
organically and through acquisitions including the purchase of the
Barre J. Yeager Agency in 2003, located in Venice, Florida, and
Sarasota-based Tartikoff Insurance Agency in 2007. Farr places
homeowners’, automobile and flood insurance for personal lines
customers in the region, as well as commercial insurance programs.
Farr works with top-rated insurance carriers and consistently
maintains high client retention.

Hylant Group Has Merged with Swartzel Affiliated Insurance
Agency (January 13, 2011): Hylant Group and Swartzel Affiliated
Insurance Agency, a privately-owned firm offering P&C insurance
services, have merged. Swartzel was founded in 1932 with the goal of
helping clients control their property and casualty costs while
providing the best insurance and risk management advice for their
clients. Founded in 1935, Hylant Group is a full-service insurance
brokerage with 12 offices in OH, MI, IL, IN and TN, and employs more
than 600 employees. Hylant offers complete risk management
services, employee benefits consultation, loss control, healthcare
management and insurance solutions for businesses and individuals.

Integro’s ReSource Intermediaries Acquires Reinsurance
Advisory Services (December 2, 2010): ReSource Intermediaries,
Inc., the reinsurance advisory and brokerage operation of Integro,
acquired Reinsurance Advisory Services, Inc. (RAS), a risk advisor and
reinsurance intermediary focused on healthcare. San Francisco-based
RAS was launched in 2003 and continues to be led by founder Peter
Robinson, who will report to ReSource Intermediaries President Bob
Kennedy. RAS, with deep expertise in managed healthcare, health,
accident, property catastrophe and casualty reinsurance markets,
works extensively with health plans and insurance companies owned
by multi-hospital systems and other provider groups. The firm’s client
base includes national, regional and purpose-built insurance
companies; federal and state governmental entities; alternative risk
entities such as captives and risk retention groups; and managing
general underwriters. Contact Integro’s Betsy Van Alstyne at
212.295.5445 or betsy.vanalstyne@integrogroup.com

Marsh & McLennan Agency Acquires Trion Group (December 22,
2010): MMA has acquired Trion Group Inc., the largest privately held
employee benefits specialist in the United States with $74 million in
annual revenues. Established in 1999, Trion is the 30th largest
insurance consultant and broker in the United States. Based outside
Philadelphia in Conshohocken, PA, Trion offers a diversified mix of
consulting, brokerage, group disability and life, absence management,
voluntary benefits, and benefit administration services to a wide
range of clients across the country. Trion's four principals, Ed Garno,
Jr., Ed Garno III, Dave Oberkircher, and Chris Veno will continue to
lead Trion as part of MMA. All of Trion's employees are expected to
join MMA.

Marsh & McLennan Agency Acquires Strategic Benefit
Solutions (January 4, 2011): Launched in 1998, SBS offers a wide-
range of employee benefit services to middle market clients, with an
emphasis on helping clients effectively manage their health care costs
through health improvement and productivity initiatives. SBS will
operate within the Rutherfoord division of MMA, expanding
Rutherfoord's Atlanta market position and adding to its employee
benefit capabilities. All of SBS’s leadership and employees will join
MMA. The transaction marks the first in a series of planned "spoke"
acquisitions that MMA will make to enhance the resources and
capabilities of its regional hub operations. "The addition of Strategic
Benefit Solutions is part of MMA's strategy to add high-quality local
talent and expertise to complement and expand the resources
available to our clients," said MMA CEO David Eslick. "These spoke
acquisitions are an essential component of our strategy to become one
of our industry’s preeminent national businesses, and we are thrilled
that Guy Morrison and the rest of the SBS team are joining MMA."

Marsh & McLennan Agency Acquires RJF Agencies (January 5,
2011): Marsh & McLennan Agency LLC (MMA) has purchased RJF
Agencies Inc., one of the largest independent insurance agencies in
the upper Midwest US. Founded in 1986, RJF has annual revenue of
approximately $25 million and roughly 150 employees.
Headquartered in Minneapolis, RJF provides property and casualty
insurance and employee benefits to middle market companies in a
wide range of industries. The firm has specialty practices in
manufacturing, condominium and townhome associations,
management liability, and contractors, among others. All of RJF’s
employees and leadership team, including CEO Bill Jeatran and
President Tim Fleming will join MMA. RJF will serve as MMA's upper
Midwest hub and is the latest in a number of acquisitions MMA has
made since embarking on its quest to build a national platform
primarily to serve the property and casualty insurance and employee
benefits needs of the middle market. "RJF’s strong regional presence,
top-notch leadership, sales-oriented culture and blend of property and
casualty and employee benefits business were very attractive as we
looked for a quality partner to join MMA in the upper Midwest," said
MMA CEO David Eslick.

People’s United Puts All Insurance Agencies Under One
Corporate Entity (January 1, 2011): People’s United Bank is aligning
all of its insurance agencies under one corporate entity: People’s
United Insurance Agency. As a result, R.C. Knox; Beardsley Brown
and Bassett; Chittenden Insurance Group; and Bank of Smithtown
Insurance Agents and Brokers, Inc. will become units within the
People’s United Insurance Agency and will be led by a single
management team. Daniel F. Casey, former President and CEO of
Chittenden Insurance Group, will become President and CEO of
People’s United Insurance Agency. Dan Casey joined Chittenden in
1982, and is now responsible for all aspects of the People’s United
Insurance Agency’s eight offices throughout New England and New
York. With 30 years of experience in the insurance business, he has
served at both the regional and national level on executive advisory
boards for many of the nation’s top insurers. Brian Loveless will be
the CFO of People’s United Insurance Agency. He was formerly Bank
Finance Officer for Chittenden Bank, which was acquired by People’s
United in 2008. Prior to joining People’s United, Loveless was a
Senior Vice President at National City Corporation in that bank’s
Institutional Asset Management area. Mike Collier, formerly Vice
President for Commercial Insurance with R.C. Knox, will become COO
for Southern New England for the People’s United Insurance Agency.
Brian Courcy, currently Senior Vice President and Programs Manager
for the Chittenden Insurance Group, will become COO for Northern
New England.

Risk Strategies Company Merges with Cohn-Reid-O’Neill
Insurance Services (December 6, 2010): RSC has merged Cohn-
Reid-O'Neill Insurance Services, Inc. (CRO) in Burlingame, CA with its
West Coast operations. Focused on providing insurance brokerage and
employee benefits services to the technology, agriculture and real
estate sectors, CRO has built its private client personal lines
insurance group, which serves high net worth individuals and
families, into one of the largest in California. As part of the merger,
CRO's three founding principals, Joe Cohn, Andy Reid and John
O'Neill, will continue to lead CRO's business with all of CRO's
employees joining the newly combined RSC-CRO organization.

RLI Will Acquire Contractors Bonding Insurance Company
(December 22, 2010): RLI Corp. announced today that it will acquire
Contractors Bonding Insurance Company through an acquisition of its
holding company, Data and Staff Service Co. (DSS) for approximately
$137 million. CBIC is a privately held, Seattle-based insurance
company specializing in surety bonds and related niche property and
casualty insurance products. The company serves over 30,000
contractors and over 4,000 insurance agents and brokers nationwide.
CBIC operates 13 regional branch offices and is considered a leading
writer of contractor license bonds in the Northwest.

RSA Canada finalizes acquisition of GCAN Insurance (January
10, 2011): RSA Canada has received the final regulatory approval to
complete its acquisition of GCAN Insurance, the second-biggest
insurance transaction of the past decade in Canada. "We are delighted
to enter the New Year having completed this key strategic move," RSA
CEO Rowan Saunders said. "This acquisition instantly positions us as
Canada's fourth-biggest general insurer and one of Canada's leading
Commercial insurance providers." RSA purchased GCAN Insurance
Company and its parent company, Glenstone Capital Incorporated, for
$420 million from the Ontario Teachers' Pension Plan Board. As GCAN
has an estimated surplus capital of about $110 million, the deal is
immediately accretive. "This is an exciting time for us," Mr. Saunders
said, "because it represents the union of two key players in Canadian
insurance with a combined skill set and distribution reach that creates
a formidable presence in the Canadian insurance marketplace. And it
comes at a time when these internal strengths will be necessary to
compete and thrive in Canada's changing insurance landscape."

R-T Specialty Acquires Oakbridge Insurance Services (December
9, 2010): R-T Specialty, the wholesale brokerage unit of Ryan
Specialty Group, announced the acquisition of Oakbridge Insurance
Services, LLC. Oakbridge is one of the nation’s leading specialty
insurance intermediaries with extensive experience and exclusive
focus on executive and professional liability exposures and insurance
solutions. The company was organized in 2005 as the successor to
Carpenter Moore Insurance Services’ Eastern U.S. operations.
Oakbridge’s main office in Bloomfield, CT is strategically located
within a 15 mile radius of many of the underwriting facilities with
whom the company transacts business. In addition, the company
maintains offices in CA, MN, NJ and OH. Tim Turner, President and
CEO of RT Specialty, says of the acquisition, “At R-T Specialty, our
mission is to assemble the best and the brightest wholesale brokers in
the country; brokers committed to providing our clients with the best
resources available. The R-T Specialty team, retail agents and
brokers, and specialty insurance markets have long recognized
Oakbridge’s reputation as an outstanding organization whose brokers
are widely regarded as among the very best nationwide in the
executive and professional liability arena. By combining our teams in
these segments, we will solidify our position as the preeminent
executive and professional liability wholesaler in the minds of retail
brokerage firms, their clients, and the specialty markets that
underwrite this insurance.” Contact Chelsey Krull of Ryan Specialty
Group at 312.784.6043 or ckrull@ryansg.com

Sedgwick CMS Buys Specialty Risk Services (December 20,
2010): The Hartford and Sedgwick Claims Management Services
announce a definitive agreement to sell Specialty Risk Services, LLC
(SRS) to Sedgwick CMS. SRS, a wholly-owned subsidiary of The
Hartford, is one of the nation’s leading third-party claims
administrators providing self-insured, insured, and alternative market
clients with customized claims services. "The sale of SRS is consistent
with our strategy to focus The Hartford on core protection and wealth
management businesses,” said The Hartford’s CEO Liam McGee.
"This transaction accomplishes the goal of creating shareholder value
without impacting the earnings power of the company. “These are two
outstanding organizations that will build on strong traditions of client-
focused service. As we work with Sedgwick to close the transaction,
we will continue to provide high quality products and services to our
customers.” Sedgwick CMS is a leader in innovative claims and
productivity management solutions to major employers. The company
provides claims administration, managed care, program management
and related services. The transaction is expected to close during the
first quarter of 2011, subject to regulatory approval and other
required consents. Sedgwick CMS plans to extend comparable
employment offers to all direct SRS employees, as of closing. Contact
Sedgwick CMS SVP Frank Huffman at 901.415.7548 or
frank.huffman@sedgwickcms.com

Tower Group Acquires Renewal Rights from Navigators Division
(January 14, 2011): Tower Group has acquired the renewal rights to
the middle market commercial package and commercial automobile
business underwritten through the NAV PAC division of Navigators
Group. The transaction, which does not include the NAV PAC Global
or Life Sciences products, is expected to contribute $25 million in
gross premiums written on an annualized basis. Tower Group CEO
Michael Lee stated, "The acquisition of this business will allow us to
continue to expand our middle market commercial product offering
into certain niche classes of business. The underwriting personnel
from Navigators whom we will hire in connection with this transaction
will become part of our recently formed Customized Solutions
business unit focused on developing customized products for our key
partner agents." Contact Tower Group CFO Bill Hitselberger at
212.655.2110 or bhitselberger@twrgrp.com

USI Holdings Corp Buys Kinloch’s New Jersey operation
(November 23, 2010): New York-based Kinloch Holdings, Inc.,
insurance brokerage holding company focusing on middle market
clients, announced the closing of the sale of Kinloch’s New Jersey
operation to USI Holdings Corporation. Richard Brown, Kinloch’s
Chairman, said, “The sale of our New Jersey operation is mutually
beneficial to Kinloch and USI as both were operating below scale in
that market. It provides Kinloch with a fair price and allows us to
focus on our core property and casualty franchise (Genatt Associates,
Inc.) headquartered on Long Island and our core employee benefits
business (Kinloch Consulting Group, Inc.) with operations on Long
Island and Boston.” Contact Richard Brown of Northaven
Management at 212.798.0303 or richard.brown@northavenmgt.com

USI Acquires Commercial Marine Business Operation from
Venbrook Group (January 12, 2011): USI has acquired the
commercial marine business operation from Venbrook Group, a Los
Angeles, CA-based property and casualty company. The acquired
business will be combined with USI's existing marine industry
practice group in its Seattle office. The acquired business is expected
to contribute approximately $1.0 million in revenues to USI on an
annual basis.

USI Acquires Mastors & Servant Risk Services (December 23,
2010): Mastors & Servant, based in East Greenwich, RI, specializes in
commercial property & casualty, bonds, and employee benefits
insurance for middle-market businesses and is expected to contribute
approximately $5.6 million in revenues to USI on an annual basis.

Wells Fargo Insurance Services Acquires JFK Consulting Group
(January 14, 2011): Serving customers primarily in Kansas and
Missouri, JFK Consulting Group provides employee benefit brokerage
and consulting services to a wide variety of customers, including small
and mid-market fully-insured plans, large self-funded corporate plans,
public sector employers, and association plans.
Wells Fargo Insurance Services Acquires Hucik & Company
(January 14, 2011): Serving customers in California since 1982, Hucik
& Company provides customers commercial surety, focusing on bid,
performance, and payment bonds for the construction trade.

Wells Fargo Insurance Services Acquires Presitge Professional
Plans (January 14, 2011): Serving customers in Ohio since 1985,
Prestige Professional Plans provides business and individual
customers with employee benefits consulting and brokerage services
including, medical, dental, life, vision, disability, and various other
health insurance plans. Prestige Professional Plans has experience in
all plan types, including fully-insured plans, self-funded plans, high
deductible health plans, and health savings accounts (HSAs).

Wright Risk Has Merged With RMI Consulting (January 20,
2011): Wright Risk, consisting of The Wright Risk Management
Company, LLC and WRM America Indemnity Company, Inc., has
merged the assets of RMI Consulting into two new subsidiaries of
Wright Risk. These two entities are Wright Risk, which underwrites
educational institutions and municipalities, and RMI, which provides
insurance consulting and Risk Purchasing group programs for food
service and real estate companies. Founded in 1980 by James Barker,
RMI will continue to operate in Port Washington, NY. James Barber,
Joseph Peiser, Maryann Sackman and Warren Sackman lead RMI’s
30+ person consulting and management team. William Fishlinger,
Chairman of the Board of Wright Risk, commented, “Wright Risk
specializes in the creation and management of risk financing
programs for property, general and professional liability, worker’s
comp, health and employee benefits, making this a sound investment
for us and a natural fit for both sides. RMI will continue its operations
parallel to Wright Risk, while integrating select functions as we
architect mutual growth.”


MAINsheet’s NEXT DEADLINE
Advisen’s MAINsheet for Mergers and Acquisitions in Insurance News
details Mergers & Acquisitions in Insurance News including
transactions and “book of business” purchases. Send material to
editors@advisen.com and note that the next MAINsheet deadline is
day 14 of the month. There is no charge to submit MAINsheet
content. MAINsheet content is global.

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