Business Moves
Regions, Holehouse Agency
Regions Insurance Inc., an affiliate of Regions Bank, has entered into an agreement with the Ronald F. Holehouse Agency to obtain the firm’s personnel and accounts. Agency founder Ron Holehouse, along with Jake Holehouse and the 11-person agency team, will join Regions Insurance.
The agency specializes in flood insurance, high-value homeowners, condo association master policies and restaurants. It is one of a few select providers of Lloyd’s private placement flood products in Florida.
Alliant, Garibaldi
Alliant Insurance Services has acquired Todd Garibaldi Insurance Agency Inc. in Lodi, Calif. Terms were not disclosed.
Garibaldi will join Alliant as senior vice president in agribusiness and food services.The agency will becme a division of Alliant Insurance Services Inc.
Todd Garibaldi Insurance Agency’s clientele include farmers, wineries, and restaurants, as well as fruit and vegetable growers, packagers and processors. TGI is the second agribusiness-focused agency Alliant has acquired this year.
OneBeacon, Amtrust
OneBeacon Insurance Group is exiting the crop insurance business. The Bermuda-domiciled insurance holding company made it official with the sale of its exclusive managing general agency – Climate Crop Insurance Agency – to AmTrust Financial Services. As part of that transaction, OneBeacon said it has transferred its existing crop insurance business to AmTrust, including policyholder servicing.
AmWINS Group, The III Group
Wholesale broker AmWINS Group Inc. has acquired The III Group, a managing general agent and wholesale broker based in Glenside, Pa.
The III Group’s divisions consist of Insurance Innovators Inc., III of Maryland, Inc., Insurance Innovators of New Jersey Inc., Innovators of New York Inc. and Insurance Innovators of New England Inc. The III Group specializes in general liability, professional lines, commercial auto, property, contractors and personal lines.
The III Group will become part of AmWINS Access, the small business unit.
NFP, BWD Group
NFP, a New York City-based provider of employee benefits, property/casualty insurance, retirement and wealth management services, has acquired BWD Group LLC in Plainview, N.Y.
BWD offers property/casualty insurance and employee proprietary programs and specialties in the sports, entertainment and publishing industries. BWD has approximately 200 employees.
BWD’s principals will join NFP’s leadership team as managing directors. Roger and Marc Blumencranz and Stuart Wilkins will each become managing director, NFP Property & Casualty, New York Metro. Eric Blumencranz will become managing director, NFP Corporate Services (New York).
BWD’s management will supervise NFP’s combined New York P&C presence, and the collective New York P&C operation will report to Terrence Scali, chief executive officer, NFP Property & Casualty. The combined New York benefits operation will report to William Austin, managing director, NFP Corporate Services (New York).
Confie; Schunke, Reynolds & Reynolds
National personal lines agency Confie Seguros has acquired Schunke Insurance Agency Inc. in West Seneca, N.Y., and Reynolds & Reynolds Agency Inc. in Bellport, N.Y. Terms were not disclosed.
The owner Richard P. Schunke and his son Rick Schunke, Jr. will continue with Confie to manage the operation.
Reynolds & Reynolds Agency represents Confie’s first agency in New York’s Long Island region.
Confie currently has 670 retail locations. Confie is a portfolio company of Boston-based private equity firm ABRY Partners.
Smith Brother; Carillo & Howland
Smith Brothers Insurance LLC, an independent agency based in Glastonbury, Conn., has acquired the assets of Carillo & Howland Inc., an agency with locations in Windsor Locks and Somers, Conn. Terms of the transaction were not disclosed.
Smith Brothers said Carillo & Howland will maintain its offices and staff at the Windsor Locks and Somers locations, and will operate as a branch of Smith Brothers.
Jared Carillo and Chris Howland, the two principals from Carillo & Howland, will become principals at Smith Brothers.
MMA, Cline Wood Agency
Marsh & McLennan Agency (MMA) has acquired Cline Wood Agency, a Kansas City-based independent specialty agency.
Founded in 1984, Cline Wood specializes in the commercial transportation and agribusiness industries. It generates $15 million in annual revenues and has 73 employees who operate out of three offices in Leawood, Kan.; Arlington, Texas; and St. Louis, Mo.
All of Cline Wood’s employees and leadership, including founders John Cline and Mike Wood and CEO Carol Barnett, are joining MMA’s upper Midwest region, which is under the leadership of regional CEO Bill Jeatran.