Business Moves

AXIS Capital, Media/Pro

AXIS Capital, a global specialty commercial property and casualty insurer and reinsurer, has agreed to acquire the assets and operations of Media/Professional Insurance (Media/Pro), a managing general underwriter specializing in professional liability lines of business, from Aon Underwriting Managers.

Headquartered in Kansas City, Media/Pro is a managing general underwriter with operations in the U.S., Canada and the U.K. Professional liability lines written by Media/Pro include media liability insurance, cyber-technology insurance and miscellaneous professional liability insurance.

Media/Pro will become part of the newly established AXIS Select Markets division of AXIS Insurance upon the close of this transaction, which is expected to occur during the second quarter of 2007 pending the satisfaction of closing conditions.

AXIS has served as the exclusive carrier for several Media/Pro errors and omissions liability programs. AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance.

Brown & Brown, United Employers

Brown & Brown Insurance Services of Texas Inc., a subsidiary of Fla.-based Brown & Brown Inc., acquired the assets of Houston-based United Employers Insurance Agency Inc.

United Employers Insurance Agency, is a retail insurance agency which sells commercial property and casualty insurance and employee benefits throughout Texas.

Partners General Agency

Partners General Insurance Agency, a California based managing general underwriter, said it will soon open an office in New York to serve its wholesale producers on the East Coast. PGIA currently has offices in Los Angeles and Chicago.

Sean McPhillips has joined Partners General as a vice president and a branch manager to run the New York office. McPhillips will be responsible for staffing the New York office as well as appointing a limited number of wholesalers on the East Coast.

Calera, TPG, Direct General

Calera Capital, formerly Fremont Partners, and TPG Capital, formerly Texas Pacific Group, announced the completion of the acquisition of Direct General Corp. by an affiliate of Calera and TPG.

Prior to the acquisition, Direct was a publicly traded company. The transaction was originally announced on Dec. 5, 2006. Under the terms of the transaction, Direct stockholders are entitled to receive $21.25 in cash for each share.

Headquartered in Nashville, the Direct group sells non-standard personal automobile insurance, term life insurance, premium finance and other consumer finance products. Direct’s subsidiaries distribute their products through over 500 company stores in 13 states, primarily in the Southeast.

In conjunction with this acquisition, Direct appointed Daniel Tarantin as chief executive officer and a member of its board of directors. William Adair, the company’s current chairman and CEO, has retired but will continue to serve on the board of directors.