Business Moves

Arthur J. Gallagher, Capital Bauer

Arthur J. Gallagher & Co. acquired Capital Bauer Insurance Agency in Albany, N.Y. Founded in 1957, Capital Bauer is a retail insurance broker providing P/C, employee benefits and risk management insurance services for commercial and personal lines clients. The agency’s premium volume is $145 million annually. Capital Bauer’s owner David Bauer will continue to operate in their current location under the direction of Douglas Brown, Northeast regional manager of Gallagher’s retail P/C operation. Arthur J. Gallagher acquired some 20 firms in 2011.

Bollinger, Argent Professional

Short Hills, N.J.-based insurance broker Bollinger acquired Argent Professional Insurance Agency in Warren, N.J. Bollinger said the deal would help bolster its professional liability insurance brokerage business. Bollinger has also formed a new professional liability division within its agency. In addition to acquiring Argent, Bollinger has also recently acquired other agencies with professional liability expertise, including The Woodland Group and Allied Insurance Services.

Bollinger, Absolute Resource

Bollinger also acquired Absolute Resource Solutions of Flanders and Kenilworth, N.J. Principals John Kirkpatrick and Eric Thieringer will join Bollinger as senior vice presidents. ARS provides employee benefit programs and consulting services.

MedPro, Princeton Insurance

Medical Protective Co. (MedPro), a medical professional liability insurance unit of Berkshire Hathaway, announced the completion of its acquisition of Princeton Insurance Co. Princeton Insurance is a New Jersey-based professional liability insurer for healthcare providers. It employs over 100 people and serves 16,000 healthcare providers. Princeton Insurance has annualized gross written premiums of $140 million. Princeton’s operations will remain in Princeton, N.J., and Charles Lefevre will remain as president. The deal was first announced last September. Princeton Insurance was previously owned by Medical Liability Mutual Insurance, a New York-based professional liability insurance provider.

Glatfelter, Bunker Hill

Glatfelter Program Managers, a program business unit of Glatfelter Insurance Group in York, Penn., acquired senior living and religious organizations programs from Bunker Hill Underwriters Agency in Houston. The senior living book consists of all lines (except workers’ comp) for skilled care, assisted living, independent living, continuing care retirement communities and personal care homes. The religious organization program writes churches and synagogues. Current underwriters and claims managers handling this business will join Glatfelter. Underwriting and claims will be executed from Glatfelter’s new Houston office.

First Savings, J. Halstead

First Savings Insurance, a unit of Perkasie, Penn.-based First Savings Bank, acquired J. Halstead Assoc., a multi-line insurance agency in Ottsville, Penn. Jack Halstead, who founded his agency in 1982, will join First Savings as vice president. First Savings Insurance also has offices in Perkasie, Quakertown and New Britain, Penn.

PSA, EPIC

PSA Insurance & Financial Services acquired the Baltimore office of San Mateo, Calif.-based Edgewood Partners Insurance Center (EPIC), a provider of risk management and insurance. Craig Routson and Brian Marx, who have been working at the EPIC’s Baltimore office, will now be members of PSA. Routson and Marx both have over 25 years of experience managing risk for large companies with unique and sizable risk exposure. They will spearhead PSA’s new Risk Solutions Group, overseeing PSA’s largest risk management accounts. The EPIC team brings a big client portfolio to PSA, with expertise in alternative energy, healthcare, aviation, and satellite technology. Clients include major metropolitan transit authorities, national associations and solar industry providers.

NSM Insurance, ABRY Partners

NSM Insurance Group, an insurance program administrator in Conshohocken, Penn., said it received a capital investment from ABRY Partners, a private equity investment firm. The capital infusion will help enhance the firm’s ongoing growth and acquisition strategy. The firm has completed eight acquisitions and launched another six insurance programs in past seven years.

Digital Insurance, SEBS

Digital Insurance, an employee benefits agency in Atlanta, acquired Strategic Employee Benefits Services (SEBS) of Virginia. SEBS, which has offices in Richmond, Charlottesville and Roanoke, will now operate under the banner of Digital Benefit Advisors (DBA). SEBS President Nancy Grasso and her staff joined the new organization and will continue to provide service to clients.