Business Moves

State Auto, NuGrowth

Columbus, Ohio-based super regional insurer, State Auto Financial Corporation, is selling its Strategic Insurance Software (SIS) subsidiary to NuGrowth Solutions, a software sales and development company also headquartered in Columbus.

SIS was founded in 1995 with the purpose of designing and selling agency management systems that allow independent agents to enter and process business directly with their company partners. NuGrowth has provided business development, sales and e-communications services to SIS since 2008.

NuGrowth CEO Greg Tillar said the decision to purchase SIS was grounded in their day-to-day work with the SIS product and people.

State Auto Chairman and CEO Bob Restrepo said the inclusion of the SIS staff was an important requirement of the sale for both parties.

NuGrowth, which was founded in 2000, partners with companies to accelerate sales performance, implement growth strategies and build equity.

Swett & Crawford

Atlanta, Ga.-based wholesale insurance broker Swett & Crawford, has formed a Midwest transportation team to be integrated into the firm’s national Transportation Practice Group. The team will be led by Doug Falls, sales leader and branch manager of S&C’s Minneapolis office, and will include transportation specialists in Minneapolis, Detroit, Chicago and Little Rock.

UMB, Chapman-Sandler

UMB Financial Corporation affiliate UMB Scout Insurance Services Inc. is acquiring Chapman-Sander, an independently-owned insurance agency in St. Louis, Mo.

The agency will operate as an office of UMB Scout Insurance Services and will keep the Chapman-Sander name. Ron Burlison will remain as president of Chapman-Sander, reporting to Roger Forystek, president of UMB Scout Insurance. The agency’s 20 associates are expected to be retained.

While UMB has offered insurance products for some time the transaction represents its first acquisition of an independent insurance agency, Forystek said.

Grain Dealers, Main Street

Grain Dealers Mutual Insurance Co., an Indiana-domiciled regional property/casualty insurance company, will become an affiliate of Main Street America. The agreement, which has been approved by the boards of directors of both companies, is subject to regulatory approval from the Indiana Department of Insurance, which is projected for early fourth quarter 2009.

Grain Dealers Mutual, based in Indianapolis, Ind., is a 107-year-old multiline carrier that currently provides coverage in nine states, with its largest volume of business in North Carolina, Oklahoma, Mississippi and Indiana.

In 2008, Grain Dealers Mutual generated nearly $33 million in direct written premium. Its product mix is 65 percent commercial, 35 percent personal. The company’s predominant line of business is commercial multi-peril, followed by homeowners and private passenger auto.

With the affiliation, Main Street America will be entering some new states, as well as increasing its presence in several existing states. Main Street America expanded its operations to the Midwest last year when it acquired Michigan-based Great Lakes Casualty Insurance Co.

Grain Dealers Mutual president and chief executive officer Don Malcom will continue to oversee the company’s daily operations out of its Indianapolis headquarters. Grain Dealers Mutual will also maintain its regional service office in Greensboro, N.C.

Wolters Kluwer, Stormwater

Wolters Kluwer Financial Services, headquartered in Minneapolis, Minn., has acquired Austin, Texas-based Stormwater Research Group.

Stormwater provides flood compliance solutions to the banking and mortgage industries, real estate development companies, insurance agencies and other entities. Its products include basic and life of loan flood determination services.

Stormwater also offers regulatory consulting services to provide clients with a comprehensive solution to their flood risk mitigation efforts.