Business Moves
AutoOne, Interboro
OneBeacon Insurance Group completed the sale of its AutoOne business to Interboro Holdings Inc. of New York. The transaction, which was announced on Aug. 31, 2011, included AutoOne Insurance Co. and AutoOne Select Insurance Co., along with the assets, liabilities and the capital of the business, as well as substantially all of the AutoOne infrastructure including systems and office space, as well as certain staff.
AutoOne, with offices in Melville and Syracuse in New York State, is a high-risk personal auto insurance provider.
Interboro was formerly Interboro Mutual, which was placed in rehabilitation by state regulators in 2004. It emerged from insolvency in 2007.
Neace Lukens, Jenkins Insurance
Kentucky-headquartered Neace Lukens, an AssuredPartners Inc. company, has acquired Jenkins Insurance Services, a Sellersburg, Ind.-based employee benefits insurance firm.
Mike Jenkins will join Neace Lukens’ New Albany office and will focus in two areas, managing his current employee benefits clients and expanding Neace Lukens’ service and product platform in the less than 100 life employee benefit arena.
Harbor Insurance, Fidelity Insurance Associates
Harbor Insurance Agency has purchased Fidelity Insurance Association.
Both agencies are located in Naples, Fla., and service the surrounding areas of Bonita Springs, Marco Island, Fort Myers, and other areas which are among Florida’s fastest growing communities.
Scott Leamon, president of Fidelity, will become vice president of Harbor Insurance. Will Kastroll, owner of Harbor Insurance will retain his current management position. The two men say they have plans to purchase at least two more agencies this year.
The agencies are licensed in 25 additional states.
A.M. Best, Dubai
A.M. Best’s London office said it has obtained the necessary approvals to establish a branch operation in the Dubai International Financial Center in Dubai, UAE. The new office will serve Middle East-North Africa, South and Central Asia. Rating analytics will continue to be performed by teams based in London and Hong Kong.
Vasilis Katsipis has been appointed general manager — market development, and will be responsible for the office in Dubai reporting to Nick Charteris-Black, managing director, market development A.M. Best — EMEA.
ISU, North Carolina
Calif.-based ISU Network announced expansions in the three states of North Carolina, Maryland and North Dakota.
ISU’s North Carolina additions are: H. B. Cantrell & Co., O’Connor Insurance Agency, Wes Connor Agency, Twin City Insurance Agency and Lipstone Insurance Group. The agencies have long histories with founding dates ranging from 1946 to 2002.
Henry Cantrell, and his son, John Cantrell are the principals of ISU H. B. Cantrell & Co. in Charlotte.
The principals of ISU O’Connor Insurance Associates of Charlotte are Terrence O’Connor, and Michelle O’Connor.
Wes Connor is the principal of ISU Wes Connor Agency in Charlotte.
Lesa Williams is the principal of SU Twin City Insurance Agency in Newton.
Steven Lipstone and Deborah Lipstone are the principals of ISU Lipstone Insurance Group in Cary.
In Maryland, ISU added LB Insurance Services in Prince Frederick while in North Dakota, ISU added ISU Papineau Insurance of Tioga.