Business Moves
OnPoint Underwriting, Commercial Insurance Services
Atlanta-based OnPoint Underwriting acquired the assets of Commercial Insurance Services, based in Greenwood Village, Colo. Terms of the transaction were not disclosed.
Commercial Insurance Services is led by Bob Hallameck, president, who will retain a management role with the new operation. CIS operations will conduct business as OnPoint Underwriting and continue to operate from its existing offices in Greenwood Village and New Mexico.
The transaction builds upon CIS’ legacy in the tribal gaming and hospitality industry. The Program for Sovereign Indian Nations will remain branded under that name and continue to be offered to all current and prospective agents and brokers appointed by either firm.
Brown & Brown, Charter Insurance
Brown & Brown Inc. acquired the assets of Charter Insurance Services Inc. in Albuquerque, N.M.
Charter Insurance Services Inc., with annualized revenues of approximately $1.1 million, focuses on property and casualty insurance for individuals and businesses.
Helen Wertheim, Charter’s president, and her team will combine their agency operations with that of Brown & Brown’s Albuquerque office, under the leadership of Scott Jones.
American Pinnacle Partners, Consolidated Special Risk Managers
Seal Beach, Calif.-based American Pinnacle Partners Inc. acquired Consolidated Special Risk Managers Inc., a managing general underwriter founded in 1990. Focused on the A&H/Benefits sector, CSRM has a presence in the group business travel accident, accidental death and disability, tuition protection, workers’ compensation carve out and scheduled benefit health insurance sectors.
CSRM is headed up by Mary Ann Villarreal, who has been with the company since inception. Under the new ownership, she will continue as president/CEO.
Monarch Insurance, Bishop Insurance
Hawaii-based Monarch Insurance Services Inc. purchased Bishop Insurance Agency, a division of American Savings Bank. The purchase price was not disclosed.
Monarch will focus on providing excellent customer service to the existing Bishop customers. Positions will be offered to some Bishop employees; and branches will be assessed with the intent of maintaining those serving larger numbers of clientele, according to Monarch.
Monarch is a property and casualty broker. Bishop Insurance is the oldest insurance agency in Hawaii, founded in 1859.