Business Moves

Endurance, W. Brown Associates

Endurance Specialty Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has entered into an exclusive joint underwriting agreement with W. Brown Associates to provide general liability and property coverages for a wide range of general aviation risks across the U.S. market.

W. Brown Associates, founded in 1987, is one of the 10 largest underwriters serving the general aviation market. Products offered include hull and liability coverage as well as general liability coverage for ground-based risks such as fixed base operators, airport owners and aircraft manufacturers and distributors.

Endurance Specialty Holdings Ltd. is a global specialty provider of property and casualty insurance and reinsurance. Through its operating subsidiaries, Endurance writes agriculture, professional lines, property, and casualty and other specialty lines of insurance and catastrophe, property, casualty, professional lines and specialty lines of reinsurance.

Allianz

Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) is launching a dedicated transportation and logistics unit in North America to be led by Helen Leonard, Inland Marine Global Product leader. The new division will offer rail, motor truck cargo, warehouse and related property coverage options.

Building on its current transportation claims division and Specialty Logistics Package (covering contingent cargo, warehouse legal liability and other specialty transportation and motor truck cargo needs), this department will be expanded by a team of newly hired professionals located throughout the region, and together, will become part of the Inland Marine division.

The AGCS Inland Marine group services clients ranging from local haulers and warehouse operations to logistics firms and large international carriers.

Samuel (Sam) Rizzitelli joins AGCS as Transportation Product lead. Rizzitelli was previously VP/director of Inland Marine Transportation for The Travelers Cos. Inc. Prior to this, he held several senior positions with The Hartford, Property and Casualty based in Connecticut.

Allianz Global Corporate & Specialty (AGCS) is the Allianz Group’s dedicated carrier for corporate and specialty insurance business.

AGCS provides insurance and risk consultancy across the whole spectrum of specialty, alternative risk transfer and corporate business: Marine, Aviation (incl. Space), Energy, Engineering, Entertainment, Financial Lines (incl. D&O), Liability, Mid-Corporate and Property insurance (incl. International Insurance Programs).

Worldwide, AGCS operates in 28 countries with own units and in more than 160 countries through the Allianz Group network and partners.

KeyCorp, First Niagara

Financial services company KeyCorp, which recently announced its plan to acquire First Niagara Financial Group in Buffalo, N.Y., said the company would leverage and grow First Niagara’s insurance brokerage business across KeyCorp’s customer base.

KeyCorp, a bank-based financial services company headquartered in Cleveland, announced on Oct. 30 that it entered into a definitive agreement to acquire First Niagara Financial Group in a cash and stock deal valued at approximately $4.1 billion.

KeyCorp’s Chief Financial Officer Don Kimble said during a call with analysts on Oct. 30 about the deal that “the potential to leverage to combine product offerings is one of the more exciting aspects of this transaction.”

KeyCorp provides deposit, lending, cash management and investment services to individuals and businesses through more than 990 branches and 13,590 employees in 12 states under the name KeyBank National Association. KeyCorp’s insurance offerings are currently provided through third parties.

First Niagara Financial Group, through its subsidiary, First Niagara Bank, N.A., is a community-oriented bank with some 390 branches and 5,400 employees providing financial services to individuals and businesses across New York, Pennsylvania, Connecticut and Massachusetts.

First Niagara Financial Group had $71.13 million in insurance brokerage fee income in 2014 according to Michael White’s Bank Insurance Fee Income Report – 2015 Edition, and was ranked 10th-largest bank holding company in terms of insurance brokerage fee income by Insurance Journal this year.

First Niagara said it currently employs 346 staff members in its risk management business.

Marsh & McLennan, Dawson Insurance

Marsh & McLennan Agency LLC (MMA) has acquired Dawson Insurance Agency, a 98-year-old family-owned agency in Fargo, N.D. Terms of the transaction were not disclosed.

Established in 1917, Dawson Insurance provides commercial and personal insurance, surety bonds, safety and loss control programs, and employee benefits services to clients throughout North Dakota and Minnesota. It has a particular focus on the construction and real estate industries.

Dawson Insurance generates $10 million in revenue and has 58 employees, all of whom are joining MMA’s upper Midwest region. It will continue to operate out of its two existing offices in Fargo as Dawson Insurance, a Marsh & McLennan Agency LLC company, under the existing leadership of Tom Dawson and Dan Armbrust.

Marsh & McLennan Agency LLC is a subsidiary of Marsh established in 2008 to primarily serve the needs of the middle market.

Risk Strategies, M.G. Welbel & Associates

Risk Strategies Co. has acquired M.G. Welbel & Associates (MGW), a Northbrook, Ill.-based professional liability insurance specialty broker. Terms of the deal were not made public.

MGW’S focus is on lawyers and design professionals, including architects, engineers and surveyors. The firm’s focus is a natural fit for Risk Strategies’ brokerage practice for architects, engineers and other design professionals, the announcement said.

In May 2015, Risk Strategies acquired Chicago-based Northwest Comprehensive, bolstering its employee benefits and higher education practices. Risk Strategies established its Midwest presence in 2007 with a start-up office in Northfield, just north of Chicago, and has since more than tripled its head count and business in the region. Risk Strategies operates from more than 18 offices across the country.

All Web Leads, insuranceQuotes.com

Austin, Texas-based All Web Leads (AWL), a Genstar Capital portfolio company, announced an agreement to acquire insuranceQuotes.com, Bankrate Inc.’s insurance division. The total transaction purchase price is $165 million and the transaction is expected to close by the end of the year. insuranceQuotes.com, formerly known as Bankrate Insurance, allows a consumer to request and compare unique insurance quotes from multiple companies.

After this acquisition is completed, AWL’s clients will include the top 20 U.S. property and casualty insurance carriers, most of the largest U.S. health insurers, and over 30,000 individual insurance agents and agencies in all 50 U.S. states, according to the company’s announcement.

All Web Leads was founded in 2005.Genstar Capital is based in San Francisco.

Hub, RFO Enterprises

Hub International Ltd. has acquired the assets of RFO Enterprises Inc. (RFO), based in Marietta, Ga. Terms of the deal were not disclosed.

RFO specializes in commercial lines insurance solutions for the trucking and logistics industry. RFO’s Randy O’Neil, principal, will join Hub Transportation, and report to Dennis Templeton, Central Regional executive vice president, Hub Transportation.

Headquartered in Chicago, Ill., Hub provides property/casualty, life and health, employee benefits, investment and risk management products and services from offices located throughout North America.

Brightway

The newest Brightway Insurance Agency, The Patrick James Agency, has opened in Miami Lakes, Fla., by agency owner, Patrick James. Brightway is a national property/casualty insurance retailer selling through a network of franchised independent agencies throughout the country.

James has worked in the industry for years, formerly owning his own Allstate Insurance agency in North Miami Beach.The new Patrick James Agency will be located at 5911 NW 173rd Drive, Unit 7, in Miami Lakes.

Brightway provides its independent agents access to insurance companies and handles service, carrier relationships and technology centrally.

Brightway Insurance is a privately held personal lines independent insurance agency headquartered in Florida. The company began franchising operations in 2008 and operates more than 115 franchise locations in about 10 states.

Confie, California Insurance Specialists

Confie has acquired California Insurance Specialists. Terms of the deal were not disclosed.

Wayne Pratt, who joined CIS in 1976, and Randy Parker, who joined in 1993, will continue as president and senior vice president of the company. All of the company’s other 33 employees will remain with CIS.

Santa Ana, Calif.-based CIS was founded in 1972 and is an independent personal lines insurance agency whose current primary focus is providing homeowners and auto policies. With three locations – Santa Ana, Bakersfield and Dallas, Texas (Statewide Insurance Specialists) – CIS reports more than 40,000 policy holders with combined annual premiums of more than $31 million.

Huntington Beach-based Confie is a national insurance distribution company primarily focused on personal lines and small commercial insurance.