Business Moves
Hanover Insurance Group, RSA Group
The Hanover Insurance Group, Inc. has a new agreement with the multinational insurer RSA Group to join its global network as a U.S. strategic network partner. This relationship expands The Hanover’s international specialty capabilities for domestic businesses with overseas risks.
Through the company’s partnership with London-based RSA Group, The Hanover gains access to a global network of local insurers in more than 180 countries. This offers The Hanover’s agents admitted products that are compliant with local laws and legislation for foreign operations in countries where coverage must be written by local, licensed insurers.
Relation Insurance, J. Deutsch Associates
Relation Insurance Services, an insurance brokerage that offers risk management benefits and third party administrator (TPA) consulting services through its family of brands across the U.S., has entered into a definitive agreement acquiring J. Deutsch Associates Inc., a New York City-based, privately owned and operated insurance agency.
The transaction is expected to bring together complementary portfolios and deepen Relation’s Education Solutions student health insurance offerings. The purchase is Relation’s first in New York.
Founded in 1998, J. Deutsch Associates provides insurance to international students and scholars in the U.S. through its International Student Protection (ISP) offering, but has also evolved into a full-service brokerage offering business travel accident insurance, group life insurance, basic and voluntary accidental death and dismemberment insurance, statutory disability insurance, short-term disability insurance and long-term disability insurance.
Relation Insurance Services is a privately held corporation with private equity partners Parthenon Capital and Century Equity Partners.
Hub International Limited, The Rubin Group Inc.
Hub International Limited, a global insurance brokerage, has acquired the assets of The Rubin Group.
The Rubin Group President Michael Rubin, along with his team, will join Hub International Northeast following the transaction.
Headquartered in New York, N.Y., The Rubin Group has provided insurance and risk management to businesses and individuals throughout the country for nearly 30 years. The firm specializes in commercial and personal insurance, providing a portfolio of business and industry-specific insurance products and risk mitigation strategies in industries such as real estate, retail, construction and transportation.
Headquartered in Chicago, Ill., Hub is a global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services.
The Hilb Group LLC, Aloisio Insurance Associates Inc.
The Hilb Group LLC has acquired Rhode Island-based Aloisio Insurance Associates Inc.
AIA, a full-service insurance agency, primarily provides property and casualty insurance to individuals and businesses in the Rhode Island area. Located in North Providence, R.I., AIA and its associates will join THG’s regional operations in New England following the acquisition.
The Hilb Group is a middle market insurance agency headquartered in Richmond, Va., and is a portfolio company of Boston-based private equity firm, Abry Partners.
Following the acquisition, The Hilb Group aims to continue growing through targeted acquisitions in the middle market insurance brokerage space. The company now has 67 offices in 17 states.
The Hilb Group LLC, D’Camera Group
The Hilb Group LLC has acquired D’Camera Group. The transaction became effective Jan. 1, 2019.
Located in Annapolis, Md., DG is a full-service insurance agency founded in 2006. It primarily provides property and casualty insurance in the Mid-Atlantic region.
DG Agency President Dean D’Camera and his associates will join THG’s Mid-Atlantic operations following the acquisition.
The Hilb Group is a middle market insurance agency headquartered in Richmond, Va., and is a portfolio company of Boston-based private equity firm, Abry Partners.
Kaplansky Insurance, KW Insurance
Kaplansky Insurance, an independent locally owned agency in the Northeastern U.S., has acquired KW Insurance, a full-service agency with locations in Dedham and Cambridge, Mass.
Following the acquisition, the KW Dedham location will be merging with Kaplanky’s corporate headquarters in Needham, Mass.
The KW Cambridge location will continue to operate at its present location under the Kaplansky name.
Kaplansky Insurance currently operates 13 locations throughout Massachusetts.
U.S. Risk Insurance Group, USI Insurance Services
Dallas-based property and casualty program and specialty brokerage firm, U.S. Risk Insurance Group (U.S. Risk), announced it has agreed to be acquired by USI Insurance Services. The transaction is expected to close in the second quarter of 2019, subject to customary conditions and regulatory requirements.
U.S. Risk will maintain its Dallas headquarters and continue to operate independently under the company’s various existing brands, U.S. Risk, Oxford, MGB, James Hampden International, Antarah and UNIS. U.S. Risk Chief Executive Officer Randall G. Goss and his current leadership team will remain and continue to lead these businesses.
Headquartered in Valhalla, New York, USI Insurance Services delivers property and casualty, employee benefits, personal risk and retirement products and services to large risk management clients, middle market companies, smaller firms and individuals.
Ryan Specialty Group, Myron F. Steves & Co.
Chicago-based Ryan Specialty Group is acquiring the assets and operations of Myron F. Steves & Co., an independently owned wholesale insurance brokerage founded in 1955 and headquartered in Houston, Texas, with additional offices in Austin, Dallas and San Antonio.
The Myron Steves team will become part of R-T Specialty, the wholesale brokerage unit of Ryan Specialty Group, strengthening RT’s presence in Dallas and Houston and establishing offices in Austin and San Antonio.
Myron Steves’ areas of expertise include commercial property and casualty, professional liability, healthcare, transportation and personal lines. Myron Steves is known for its advanced technology, service to retail clients and ease of doing business.
Ryan Specialty Group, Westphalen Insurance Services
Chicago-based Ryan Specialty Group has reached a definitive agreement to acquire the assets and operations of Westphalen Insurance Services, an independently owned wholesale insurance brokerage located in Edmond, Oklahoma.
The Westphalen team will become part of R-T Specialty, the wholesale brokerage unit of Ryan Specialty Group. Founded in 1987, Westphalen is a family run business that focuses on property and casualty, personal lines and transportation. Led by Jeff Westphalen, the firm has binding authority commitments within each segment with ‘A’ rated XV carriers.
Ryan Specialty, International Specialty Insurance Services
Ryan Specialty Group, LLC has reached a definitive agreement to acquire the assets and operations of International Specialty Insurance Services, an independently owned managing general underwriter with offices in Winston-Salem, North Carolina.
ISI’s team will become part of RSG Underwriting Managers, LLC, the managing general underwriting unit of Ryan Specialty Group.
ISI offers disability and other related insurance products to athletes, entertainers, physicians and other high-earning professionals.
The business is privately owned and led by Matthew Ferraro, Joseph Ferraro and Christopher Larcheveque. All of these individuals, along with the whole team at ISI, will remain with the business under the new RSG ownership.
Sherman & Company LLC acted as financial advisor to ISI.
Ryan Specialty Group includes a wholesale brokerage firm and managing general underwriting companies designed for brokers, agents and insurers.
Wilkinson Insurance, Commercial Insurance Services
Wilkinson Insurance Services Inc., an insurance premium audit services company based in Huntsville, Ala., is expanding to Virginia with its acquisition of Commercial Insurance Services of Virginia.
The acquisition is expected to increase the company’s footprint in the Southeast and Mid-Atlantic region, according to a company press release.
Wilkinson Insurance Services Inc. was incorporated in 1993 with the goal of providing premium audit services to the insurance industry in the Southeast. CIS has been in business for thirty years, servicing both the Commonwealth of Virginia and North Carolina.
Auto-Owners, Capital Insurance Group
Auto-Owners Insurance has entered into a definitive agreement to acquire Monterey, Calif.-based Capital Insurance Group.
Philo Smith & Co. was the exclusive financial advisor to Auto-Owners.
Auto-Owners Insurance Group is headquartered in Lansing, Mich. Auto-Owners is a multiline property and casualty insurer operating through independent agencies in 26 states.
Capital Insurance Group insures
personal lines and a wide range of commercial and agricultural businesses in California, Washington, Oregon, Nevada and Arizona.
Arthur J. Gallagher, Surety Solutions, Agency Multiplied
Arthur J. Gallagher & Co. has acquired Salem, Ore.-based Surety Solutions LLC and Agency Multiplied Inc.
Surety Solutions is a surety focused agency that specializes in offering surety bonds for mortgage brokers, artisan contractors and other industries.
Arthur J. Gallagher is an insurance brokerage, risk management and consulting services firm headquartered in Rolling Meadows, Ill.