Business Moves – South Central
Caldwell and Partners, Midlands Holding Corp.
Oklahoma-based Caldwell and Partners Inc. (CAP) acquired Midlands Holding Corp. (MHC) from PMA Capital Corp. (PMA).
Midlands Management Corp. (Midlands) is a managing general agent and excess and surplus lines broker that also operates as a third party administrator with its subsidiary Midlands Claim Administrators Inc.
Midlands has offices in Oklahoma City; Addison, Texas; and Calabasas, Calif. It writes excess workers’ compensation, non-standard auto business, Texas non-subscription insurance, as well as special programs, on both an excess insurance and reinsurance basis.
CAP is an independently owned Oklahoma insurance holding company.
Higginbotham, Coastal Insurance Group
Fort Worth-based Higginbotham and Coastal Insurance Group LLC have merged operations in Friendswood, Texas.
Coastal Insurance Group is a personal and commercial insurance broker, established in 2001 by Clayton A. Johnson. The foundation of the business is personal home and auto insurance, bolstered by commercial insurance for small businesses concentrated in oil and gas and industrial services.
Higginbotham, established in 1948, provides comprehensive insurance and financial services to business and individual customers. The firm entered the Friendswood market in 2010 by merging with The Essential Insurance Group. Combined, Higginbotham employs more than 520 insurance and administrative professionals in 16 offices across Texas.
Marsh & McLennan Agency, Independent Insurance Group Benefits
Marsh & McLennan Agency LLC, a subsidiary of insurance broker Marsh Inc., acquired Independent Insurance Group Benefits Inc., the employee benefits division of Dallas, Texas-based Independent Insurance Group.
Independent Insurance Group Benefits will be folded into Prescott Pailet Benefits, which Marsh & McLennan Agency acquired in 2011.
Independent Insurance Group Benefits, which reports annual revenues of roughly $1.4 million, offers employee benefits products and services to midsize employers in the Dallas area. The group’s leadership and employees will join Prescott Pailet.
Marsh & McLennan Agency operates autonomously from Marsh to offer commercial property, casualty, personal lines and employee benefits products and services.
Hub International, CFR, Benefits Concepts
Hub International Limited (Hub) acquired CFR Inc. (CFR), a Tulsa, Okla.-based insurance brokerage firm.
The operations will form a new regional Hub called Hub International CFR. CFR Chairman Jack Allen, Jr., CEO Robert Gardner and President Trey Biggs will join Hub, reporting to Roy Taylor, president, Western Region, Hub International.
CFR is a full service firm offering property/casualty, employee benefits, surety and personal lines products and services.
The firm is the endorsed brokerage of The Oklahoma State Homebuilders Association, and works with businesses across many industries, including non-profit, healthcare, manufacturing, energy and real estate. The agency’s personal lines group arranges programs for high net worth individuals. CFR has two locations, in Tulsa and Oklahoma City.
Hub also acquired Benefit Concepts Inc. (BCI), a Shreveport, La.-based employee benefits brokerage firm.
BCI becomes part of the Texas operations of Hub International Insurance Services (Hub Texas). Troy Davis, principal, will join Hub, reporting to Jack McGrath, president and CEO of Hub Texas.
BCI specializes in employee benefits programs for middle market businesses, with expertise in many areas including voluntary and self-funded programs.
Houston International Insurance Group
Houston International Insurance Group (HIIG) has reorganized its domestic underwriting operations, which going forward will be re-branded under the symbol HIIG.
The following divisions have been created:
- HIIG Construction – Crane & Rigging; Underground Contractors; and Heavy Transport
- HIIG Energy – Mining; and Oil & Gas
- HIIG Professional – Community Banks; Allied Health; and in the future E&O and D&O
- HIIG Specialty – Hospitality; Security Guards; Texas Workers’ Compensation / Non-Subscription
These divisions will underwrite directly on behalf of HIIG subsidiary insurance companies, which are rated A- (Excellent) or better by A.M. Best:
- Houston Specialty Insurance Co. – Surplus Lines
- Oklahoma Specialty Insurance Co. – Surplus Lines (Texas only)
- Imperium Insurance Co. – Admitted
- Great Midwest Insurance Co. – Admitted
HIIG underwriting agency subsidiary Bunker Hill Underwriters has been renamed HIIG Underwriters and represents non-affiliated insurance companies and Lloyds Underwriters in certain classes of business.
HIIG is an insurance holding company based in Houston, Texas, with offices in Atlanta, Ga.; Birmingham, Ala.; Chicago, Ill.; and Dallas, Texas.