Business Moves – East

Allied World U.S.

Switzerland-headquartered Allied World Assurance Company Holdings AG has expanded its U.S. casualty operations with the launch of a new construction casualty division. The new division will be run from Allied’s New York office.

New lines of business being offered are: commercial general liability and commercial automobile as well as railroad protectives and owners and contractors protective. Product offerings for the new division will include: contractor practice programs, owner controlled insurance programs, contractor controlled insurance programs and project specific programs.

ProAssurance, Medmarc

ProAssurance Corporation, a Birmingham, Ala.-headquartered medical liability insurer, said it is acquiring Medmarc Insurance Group.

Medmarc, based in Chantilly, Va., specializes in products liability insurance for medical technology and life sciences companies. Medmarc will become part of ProAssurance through a proposed $153.7 million, all cash, sponsored demutualization that will provide Medmarc’s eligible members with cash payments of $146.2 million and future policy credits of $7.5 million.

ProAssurance said it will maintain Medmarc’s current operations in Chantilly, Va.

Arthur J. Gallagher, Triad USA

Itasca, Ill.-headquartered global insurance broker Arthur J. Gallagher & Co. has acquired Pittsburgh-based Triad USA. Terms of the deal were not disclosed. Formed in 1998, Triad USA offers employee benefits brokerage and consulting services for middle-market clients throughout the U.S.

Consolidated Insurance Agents

Consolidated Insurance Agents, an exclusive network of independently owned and operated insurance agencies in New Jersey, added two new member agencies to its network last month. The Michaels Agency Inc. of Sewell, Gloucester County, and The Bixler Group LLC of Kearny, Hudson County, joined the network in June.

The network now has 26 agencies with 28 locations in the Garden State.

Renaissance Alliance

Renaissance Alliance Insurance Services (RAIS), a New England-based network of specialty services for independent insurance agencies, recently added five new member agencies. The new member agencies are: MHA Insurance Agency of Burlington, Mass.; Southeast Agency of Jewett City, Conn.; W.J. Irish Insurance Agency of Manchester, Conn.; The Stone Agency of Guilford, Conn.; and Chittenden Group of Naugatuck, Conn.

Renaissance Alliance now encompasses over 100 agency locations in Connecticut, Massachusetts, Rhode Island and New Hampshire.

White Mountains, AIG

White Mountains Solutions Holding Co., a specialist runoff acquisition operation for White Mountains Insurance Group Ltd., said it has entered into an agreement to acquire two runoff subsidiaries — American General Indemnity Co. and American General Property Insurance Co. — from American General, part of N.Y.-headquartered American International Group.

Under the terms of the agreement, White Mountains Solutions will pay approximately $35 million.