Business Moves

Brooke Corp., Oakmont

Brooke Corporation entered into a definitive agreement by which Brooke Credit Corporation, its finance company subsidiary, will merge with Oakmont Acquisition Corporation. The planned merger will result in Brooke Credit becoming a public company with Brooke Corp. as its largest shareholder.

Under the terms of the agreement, Brooke Credit will merge with and into Oakmont, with the surviving company operating under the name of Brooke Credit Corp. At closing, Brooke Corp. and warrant holders will receive merger consideration of approximately 17.5 million shares of Oakmont common stock with a current value of approximately $105.0 million. Brooke Corp. and warrant holders will receive an additional 4.0 million shares of Oakmont common stock should Brooke Credit achieve adjusted earnings (as defined in the definitive Agreement and Plan of Merger) of $15.0 million in 2007, and an additional 1.0 million shares should Brooke Credit achieve adjusted earnings of $19.0 million based on the same computation in 2008. The contingent consideration has a current value of approximately $30.0 million.

Immediately prior to the merger, Oakmont will effect a reincorporation merger in order to become a Kansas corporation. At the closing of the transaction, Brooke Corp. will own approximately 58.2 percent of the outstanding shares of common stock of Oakmont. Giving effect to the increased shares in the event the financial goals are achieved during 2007 and 2008, Brooke Corp. would own approximately 63.6 percent of the outstanding shares of common stock of Oakmont.

Source: Brooke Corp.

Arthur J. Gallagher & Co., InterNational Insurance Group

Arthur J. Gallagher and Co. acquired InterNational Insurance Group Ltd. of Boston, Mass. Terms of the transaction were not disclosed.

InterNational Insurance Group Ltd. offers risk management and property and casualty insurance services for commercial clients in the Northeast. They also specialize in life sciences, hospitality and environmental products and services. Jeremy Alderman, Michael Neville and their staff will continue to operate in their Boston location under the direction of Douglas B. Brown, Northeast Regional manager of Gallagher’s Brokerage Service Retail Division. the company release said.

Arthur J. Gallagher and Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Ill., has operations in seven countries and does business in 120 countries.

Source: Arthur J. Gallagher and Co.

BISYS, Truckwriters, Zurich

BISYS Commercial Insurance Services acquired Truckwriters Inc., an Atlanta-based managing general agency owned by and writing business with Zurich Programs, a business unit of Zurich North America Commercial.

Source: BISYS.