Business Moves
MarshBerry, Gill & Roeser
MarshBerry has acquired the assets of Gill & Roeser Inc., a New York City-based boutique investment banking and reinsurance intermediary firm. Terms of the transaction were not disclosed.
Gill & Roeser is an independently owned capital management advisor to the insurance industry. The firm offers capital management strategies and reinsurance services such as reinsurance brokering, program structures, alternative markets, risk pooling, valuations, capital raising, and merger and acquisition consulting services.
As part of the acquisition, MarshBerry is hiring the staff of Gill & Roeser including Dale A. Myer, chairman, and Steven K. Bolland, president and CEO.
The deal will allow MarshBerry to expand its knowledge in the insurance carrier and managing general agent marketplace, and offer a broader portfolio of services to the insurance industry.
B&H Risk Services
Dallas-based CPro Associates has spun off its binding authority and programs unit as a new company, B&H Risk Services Inc.
The new company is headed by William E. Buckley, who joined CPro in late 2013 to form and develop the new business unit.
The company now writes in Texas, Oklahoma, Louisiana and Arkansas, with plans to expand its footprint nationally.
Buckley brings more than 25 years of insurance experience including surplus lines, specialized programs, primary and reinsurance. Prior to the founding of B&H Risk Services, Buckley served as president and CEO of G.J. Sullivan Co., an excess and surplus lines brokerage in Orange County, Calif.
B&H Risk Services offers all forms of property, casualty, workers’ compensation, umbrella, professional and risk management products and services.
Insurance Network of Texas, The Nitsche Group
Insurance Network of Texas, an independent insurance agency based in Giddings, Texas, is operating under a new name: The Nitsche Group. It has a redesigned web site, www.TheNitscheGroup.com. Today, The Nitsche Group has more than 125 employees at nine locations across Texas.
Safety National Casualty Corp.
Safety National Casualty Corp., a provider of excess workers’ compensation insurance and large casualty multi-line offerings, has opened a regional office in Dallas. The Dallas office is the sixth regional office opened by Safety National in the past five years.
Safety National’s other regional offices are located in New York, Atlanta, Chicago, San Francisco and Los Angeles, with corporate headquarters located in St. Louis, Mo.
Arthur J. Gallagher, Insurance Point
Itasca, Ill.-based Arthur J. Gallagher & Co. has acquired Insurance Point LLC in St. Charles, Ill., and Salt Lake City. Terms of the transaction were not disclosed.
Insurance Point offers employee benefit consultation and insurance brokerage services for healthcare systems and hospitals throughout the United States. Along with traditional life and disability insurance programs, the company also specializes in voluntary benefits, medical stop-loss insurance, leave and sick plan programs, benefit administration systems and executive benefit programs.
Led by Michael Greco in St. Charles, Insurance Point will continue to operate in its current locations and will be under the direction of William Ziebell, head of Gallagher’s North Central employee benefit consulting and brokerage operations.
Hilb Group, Martin Agency
The Hilb Group has acquired The Martin Agency Inc. with offices in Danville, Ky., and Celebration and Ormond Beach, Fla.TMAI will continue to operate at its current locations under the leadership of John Carrithers.
TMAI represents Hilb Group’s continued expansion in Florida and its initial expansion into Kentucky.
Founded in 1989, TMAI serves both commercial and personal lines clients.
The Hilb Group was founded in 2009 by Robert H. Hilb, the former founder and CEO of Hilb, Rogal and Hobbs, and Robert J. Hilb, a former corporate vice president of HRH. The Hilb Group makes targeted acquisitions in the middle market insurance brokerage space. It is headquartered in Richmond, Va., with offices in Virginia, Georgia, Florida, North Carolina, Tennessee, Maryland, Kentucky and New York.
Hub International, Ballard Insurance
Chicago-based global insurance broker Hub International Ltd. has acquired the assets of Ballard Insurance Agency, a Melbourne, Fla.-based insurance brokerage with coastal personal lines experience. Terms of the acquisition were not disclosed.
Ballard will become part of the Hub International Florida operations (Hub Florida). Hub Florida will relocate its Melbourne office to Ballard’s existing Melbourne location.
The Melbourne office will report into Latimer Farr, president of Hub Florida’s current locations, and roll into the larger Hub Southeast operations under CEO Mike Chapman.