Business Moves
MetLife, PetFirst
MetLife has agreed to acquire PetFirst Healthcare, a pet insurance program administrator that distributes its products through animal welfare agencies, direct-to-consumer channels and employers.
Indiana-based PetFirst underwrites and administers pet health insurance policies and claims on behalf of New Hampshire Insurance Co., The Insurance Company of the State of Pennsylvania, and Independence American Insurance Co. in approved states.
Following the acquisition, PetFirst will continue to market pet insurance through animal welfare societies and its direct-to-consumer channel. Beginning in the summer of 2020, MetLife will offer this pet insurance to employers through its group benefits distribution channel.
AssuredPartners, Alton E. Woodford Insurance Agency
AssuredPartners Inc. has acquired Alton E. Woodford Insurance Agency Inc., located in West Hartford, Conn.
The team of nine will remain under the leadership of Tallison Noble and Nerissa Smith following the acquisition.
Headquartered in Lake Mary, Fla., and led by Jim Henderson and Tom Riley, AssuredPartners Inc. acquires and invests in insurance brokerage businesses in the property/casualty, employee benefits, surety and managing general underwriting space across the U.S. and in London.
Hub International Limited, StoneStreet Pearl River
Hub International Ltd. has acquired the assets of StoneStreet Pearl River LLC.
Based in Pearl River, N.Y., and led by Barbara Delaney, StoneStreet is an independent firm providing retirement plan consulting services to defined benefit, defined contribution and non-qualified plans.
Delaney will join Hub Northeast and will work with David Reich, national president of Hub Retirement and Private Wealth, and collaborate with Paul Collins, president and CEO of Hub Northeast.
World Insurance Associates, Bucci Insurance Group
World Insurance Associates LLC acquired Bucci Insurance Group of West Warwick, R.I.
Founded in 1981, Bucci Insurance Group serves the New England community with personal, commercial and benefit insurance services.
Bucci Insurance Group Broker Tony Bucci, COO Mary Pellegrino and their associates will continue to operate from their current location in West Warwick, R.I.
Headquartered in Tinton Falls, N.J., WIA is an insurance brokerage.
JGS Insurance, John Manougian Insurance Agency
Jacobson, Goldfarb & Scott Inc. has acquired the John Manougian Insurance Agency in Silver Spring, Md.
Following the acquisition, JMI Founder John Manougian will remain as a consultant, while Chris Manougian and Robin Manougian will serve as vice presidents.
They along with the rest of the staff will continue to operate from the agency’s Silver Spring office.
JMI will continue to operate as a wholly-owned subsidiary of JGS Insurance with Chris and Robin Manougian as the practice leaders.
JMI is as an independent agency. JGS Insurance is as an independent insurance agency that is privately owned.
Risk Strategies, Thomas McGee Group
Risk Strategies, a privately held, national insurance brokerage and risk management firm, has acquired Thomas McGee Group, a Missouri-based full-service brokerage with specialty capabilities for large accounts, group and single parent captives, and focused risk management services.
Headquartered in Kansas City, TMG also maintains offices and operations in St. Louis.
In its employee benefits and commercial lines business, TMG has specialty in group captive insurance programs. TMG has formed and manages self-insured pools.
In its third-party administrator group, TMG provides loss adjustment services.
Accel Wealth Management, Premier Advisors
Accel Wealth Management LLC, a financial services division of Accel Holdings Inc., has acquired Premier Advisors LLC, an independent financial management consulting firm in Cedar Rapids, Iowa.
The Accel Group, an independent insurance agency, has offices in Cedar Falls, Cedar Rapids, Coralville, Waverly and West Des Moines, Iowa.
Premier Advisors will change its name to Accel Wealth Management and Premier Advisors team members will be joining The Accel Group staff in Cedar Rapids.
The Accel Group is an independent insurance company that supports clients from locations across Iowa.
World Insurance Associates, McMillan Insurance Group
World Insurance Associates LLC has acquired McMillan Insurance Group of Fort Worth, Texas.
McMillan Insurance Group provides commercial trucking insurance products and services. World Insurance Associates LLC, headquartered in Tinton Falls, N.J., is an insurance brokerage.
Artex Risk Solutions, EWI Re Inc.
Artex Risk Solutions Inc., a captive and alternative risk transfer specialist subsidiary of Rolling Meadows, Ill.-based global insurance brokerage, risk management and consulting services firm, Arthur J. Gallagher & Co., has acquired EWI Re Inc., headquartered in Dallas.
EWI offers reinsurance program design and placement services for captives and mutual insurance companies.
Led by Steve McElhiney, the EWI team will report to Jennifer Gallagher, president of Artex’s North American operations.
PointeNorth Insurance Group, Berger & O’Neal Insurance Group, Holmes-Shaw Agency
PointeNorth Insurance Group, LLC, an independent insurance agency in the Southeast, has acquired two additional insurance agencies in Georgia Berger & O’Neal Insurance Group and Holmes-Shaw Agency.
Berger & O’Neal Insurance Group and Holmes-Shaw Agency will maintain their brands, teams and management. Both agencies have joined the PointeNorth Alliance.
Michael Berger, former principal and president of Berger & O’Neal Insurance Group, is now a senior vice president of PointeNorth. Hugh Lee O’Neal, Jr., former principal of Berger & O’Neal Insurance Group, is a senior vice president of PointeNorth.
Holmes-Shaw Agency specializes in life, health and disability insurance.
David Holmes, former senior vice president and CFO of Holmes-Shaw Agency, is vice president of PointeNorth and senior vice president of the Holmes-Shaw Benefit Program. Roy Downey, former senior vice president and Secretary of Holmes-Shaw Agency, is vice president of PointeNorth and senior vice president of the Holmes-Shaw Benefit Program. J. Taylor Smith, producer of Holmes-Shaw Agency, now serves as producer for both PointeNorth and the Holmes-Shaw Benefit Program.
Patriot Growth Insurance Services, Shapiro Insurance Group
Patriot Growth Insurance Services, LLC, a national insurance agency, has added Shapiro Insurance Group to its platform.
SIG is headquartered in Jacksonville, Fla..
Patriot is an insurance services firm that partners with employee benefits and property/casualty agencies across the U.S.
FedNat, 1347 Property Insurance
FedNat Holding Company has completed its acquisition of the homeowners insurance operations of 1347 Property Insurance Holdings Inc., consisting of Maison Insurance Co., Maison Managers, Inc., and ClaimCor LLC, in a cash and stock transaction valued at roughly $51 million.
Maison is a property/casualty insurer focused primarily on coastal homeowners markets in Texas and Louisiana.
Braun added Doug Raucy and Dean Stroud and their teams have joined FedNat.
The $51 million purchase price was comprised of a 50/50 mix of cash and stock, including the issuance of 1,773,102 shares of FedNat common stock.
FedNat is a super-regional insurance holding company.
1347 Property Insurance Holdings is an insurance, reinsurance and investment management holding company incorporated in Delaware.
EPIC, Prime Risk Partners
EPIC Insurance Brokers & Consultants and Prime Risk Partners Inc. have joined forces. The transaction previously announced on October 15 has closed.
Prime Risk Partners will initially operate as Prime Risk Partners – an EPIC Company. Prime Risk Partners’ leadership and insurance professionals will continue to provide service from their existing locations.
Alliant, Buck & Affiliates
Alliant Insurance Services Inc. has acquired Spokane, Wash-based Buck & Affiliates.
Gary Buck, president and CEO, along with the entire Buck & Affiliates team, will join Alliant and continue serving clients from its Spokane headquarters.
Buck & Affiliates provides insurance solutions with a large presence in the health and fitness industry.
Newport Beach, Calif.-based Alliant provides property/casualty, employee benefits and other services.
A.J. Gallagher, Brown & Brown
Arthur J. Gallagher & Co. has completed a deal for the Pacific Northwest marine business team of Brown & Brown of Washington Inc. and to assume the associated marine book of business.
The brokerage team handles marine insurance for a variety of maritime clients. Led by Graham Gardner, the team will operate from offices in Seattle and Newport, Ore., under Jim Buckley, head of Gallagher’s Northwest region retail property/casualty brokerage operations.
Arthur J. Gallagher & Co. is a global insurance brokerage headquartered in Rolling Meadows, Ill.
Hub International, HMBD Insurance Services
Hub International has acquired Long Beach, Calif.-based Hamman-Miller-Beauchamp-Deeble Inc. d/b/a HMBD Insurance Services.
HMBD leadership Dan Roddy, President, and Vice Presidents Todd Miller, Travis England, Jay Semaan and Glenn Agoncillo, will join Hub California.
HMBD is an insurance agency providing multi-line insurance solutions.
Chicago, Ill.-based Hub is a global insurance broker providing property/casualty and other products and services.