Business Moves
Distinguished, Fulcrum
Distinguished Programs Holdings LLC announced the pending acquisition of Bellevue, Wash.-based Fulcrum Insurance Programs.
The businesses will be combined and rebranded as Distinguished Specialty. Fulcrum principals Dusty Rowland and Eric Arthur will be joining Distinguished Specialty as senior executives and Rowland will join Distinguished’s board of advisors when the deal is concluded.
Brooks Chase will become president of Distinguished Specialty.
The deal is expected to close at the end of October.
New York-based Distinguished is a portfolio of businesses serving the insurance industry.
Fulcrum is a program administrator focused on real estate and hospitality.
Hub International, DISNE, Triangle Insurance
Hub International Limited acquired the assets of Doctors Insurance Services of New England (DISNE). Terms of the acquisition were not disclosed.
Based in the Boston suburb of Holliston, Mass., DISNE specializes in providing personal and professional liability, including medical malpractice insurance services, to healthcare organizations and providers.
Dan Nissi, DISNE’s president, will join Hub as president of Healthcare Solutions for Hub New England, a Hub International subsidiary, and report to Charles Brophy, CEO of Hub New England.
In a separate deal, Hub also acquired the assets of Triangle Insurance Services Inc., an independent insurance agency based in Raleigh, N.C. Terms of the acquisition were not disclosed.
Triangle Insurance specializes in providing property/casualty insurance services to clients in the Cary/Raleigh area. Cleve and Linda Folger, the founders and owners of Triangle Insurance, are joining the Hub Carolinas division of Hub International Southeast.
Hub International is an insurance brokerage that provides property/casualty, life and health, employee benefits, investment and risk management products and services.
Beneficial Insurance, PKA
Beneficial Insurance Services, a subsidiary of Beneficial Bank in Philadelphia, acquired Pye Karr Ambler & Co. Inc. (PKA), an independent insurance agency in Jenkintown, Pa. Terms of the transaction were not disclosed.
Under the transaction, PKA President and CEO Lou Karr and the agency’s two staff members will join Beneficial Insurance. PKA’s Jenkintown office will continue to be used for the immediate future, Beneficial Insurance said.
Beneficial Insurance is an insurance brokerage offering commercial, personal, and benefit products.
Union Insurance, McLaughlin Co.
Union Insurance Group, a Chicago-based commercial insurance agency specializing in property/casualty and professional liability products for labor organizations, acquired The McLaughlin Co., an insurance agency in Rockville, Md. Terms of the transaction were not disclosed.
Union Insurance Group provides commercial insurance including property/casualty and professional liability coverage to labor organizations of various sizes.
AAdvantage Insurance Group, Premier Insurance Associates
AAdvantage Insurance Group in Glen Carbon, Ill., led by founder Dave Viox, recently announced a merger with Premier Insurance Associates located in Edwardsville, Ill.
Vince and Deb Valesano, former owners of Premier Insurance Associates, will also join AAdvantage Insurance Group.
AAdvantage specializes in farm, commercial, home, auto and life insurance and serves clients in the Metro-East/St. Louis area, as well as throughout Illinois and Missouri.
Meadowbrook Insurance, Mackinaw Administrators
Meadowbrook Insurance Group Inc., based in Southfield, Mich., has acquired Mackinaw Administrators LLC (Mackinaw).
Mackinaw is a Michigan-based program and claims administrator that provides tailored insurance and risk management programs and other related services for both group and individual clients.
Under the terms of the transaction, Mackinaw will operate as an independent subsidiary within Meadowbrook. Mackinaw will maintain its present headquarters in Brighton, Mich., and continue to be led by its current management team, including the company’s president, Stephen Flechsig.
Higginbotham, Commercial Global Insurance
Higginbotham, based in Fort Worth, and Commercial Global Insurance (CGI), based in Deer Park, Texas, are merging their operations in Friendswood, Texas.
Higginbotham’s union with CGI is its second merger in the Friendswood area and brings its total number of employees to 660 in 22 offices.
Higginbotham provides property, liability, life and health insurance, risk management and employee benefit services to businesses and individuals.
CGI is a boutique agency that provides commercial insurance and bonds to businesses and investors primarily in the industrial, environmental and construction industries.
CGI founder Blake Barnes will serve as a managing director of the combined firm.
TIA-TCOR
TCOR Management, based in New Braunfels, Texas, has formed a new insurance agency, TIA-TCOR LLC, dba Texas Insurance Agency.
With Ben Reedy as principal, San Antonio-based TIA-TCOR provides insurance, risk management, surety and employee benefits to organizations across Texas and the nation.
The firm maintains a focus on the energy, construction, manufacturing, healthcare, life sciences, non-profit, real estate, retail and wholesale trade, and technology industries.
Marsh & McLennan, Tequesta Insurance Advisors
Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, has acquired Tequesta Insurance Advisors, a personal, commercial, and employee benefits insurance provider in Florida. Terms of the transaction were not disclosed.
With approximately $10 million in annual revenues and 50 employees, Tequesta adds additional property/casualty capabilities and personal lines expertise to MMA’ s Florida region. All of Tequesta’s employees are joining MMA and will continue to operate out of the agency’s Tequesta, Fla. office.
According to Shannon Alfonso, president of MMA’s Florida region, MMA now has more than 220 colleagues in eight offices throughout Florida.
Marsh, Dovetail Insurance
Marsh has signed a definitive agreement to acquire Dovetail Insurance, a provider of insurance technology services tailored to the U.S. small commercial market. Terms of the transaction, which is expected to close in the third quarter, were not disclosed.
Based in Columbia, S.C., Dovetail has developed a cloud-based technology platform that enables independent insurance agents, on behalf of their small business clients, to obtain online quotes from multiple insurance providers and bind insurance policies in real-time.
Upon closing, Steve Francis, CEO of Dovetail, and the entire Dovetail team, will join Marsh. Dovetail will be part of Marsh’s Global Risk & Specialties segment.
Johnson & Johnson, John Handel & Associates
Managing general agency Johnson & Johnson Inc. (J&J) has acquired John Handel & Associates Inc. (JHA), located in St. Petersburg, Fla.
John Handel & Associates was established in 1983 as a full service multi-line E&S brokerage agency serving Florida. The company will continue to serve its agents and insureds from JHA’s office in St. Petersburg and from the current J&J office in Melbourne, Fla. The entire JHA team will join the organization.
Based in Charleston, S.C., J&J is a full-service MGA offering E&S markets, standard markets, and premium financing to independent insurance agents.
Patriot National, RCA
Patriot National Inc., a workers’ compensation outsourcing services firm based in Fort Lauderdale, Fla., acquired R.C.A. Insurance Group (RCA), a Clifton, N.J.-based property and liability program administrator to the hospitality industry. Terms of the transaction were not disclosed.
RCA provides preferred insurance programs designed for restaurants, bars and taverns nationwide. RCA will become part of Trigen Insurance Solutions, Patriot National’s operating subsidiary focused on expansion into broader commercial insurance lines.