Business Moves

Coalition, Attune

Coalition, a San Francisco-based cyber insurance and security company, has acquired Attune, a digital agency with a platform focused on commercial insurance.

With the acquisition, Coalition maintains it will be the world’s largest commercial insurtech provider, with more than 130,000 policyholders in play.

Attune was a wholly owned subsidiary of Attune Holdings, LLC, a Delaware limited liability company, which is a joint venture among AIG Property Casualty U.S., Inc., Two Sigma Insurance Quantified, LP and Hamilton U.S. Holdings II, Inc. Those firms jointly launched Attune as a startup in late 2016, and CEO James Hobson has been in charge since early 2017. Attune has 150 people, who will become part of a company with 270 employees.

In acquiring Attune, Coalition is getting an insurance producer licensed in 50 states through which brokers and customers have the ability to quote and bind businessowners, workers’ compensation, commercial liability excess, professional liability, and general liability policies in minutes for hundreds of small-commercial classes, the announcement noted.

Allstate, Wilton Re

The Allstate Corp. moved closer to its complete exit from the life insurance and annuity business with the closing of the sale of its Allstate Life Insurance Company of New York to Wilton Re for approximately $400 million.

The ALNY transaction, along with the previously announced agreement to sell Allstate Life Insurance Co. to Everlake US Holdings Co., an entity managed by Blackstone Group. for $2.8 billion, will complete Allstate’s exit from the life and annuity businesses.

The combined divestitures of ALIC and ALNY are expected to generate approximately $1.7 billion of deployable capital, according to the company.

ALIC holds approximately 80 percent, or $23 billion, of Allstate’s life and annuity reserves. The New York company has $5 billion of GAAP reserves.

Wilton Re is a provider of reinsurance in the North American life insurance industry.

Allstate agents will now offer a life insurance and retirement products from third-party providers.

Arthur J. Gallagher & Co., Lloyd Bedford Cox

Arthur J. Gallagher & Co. acquired Bedford Hills, New York-based Lloyd Bedford Cox Inc.

Founded in 1921, LBC is a fourth-generation retail insurance agency providing insurance coverage, services and risk assessment tools to high-net-worth individuals and families throughout the U.S., Europe, the Bahamas and the Caribbean.

J. Jeffers Cox and his associates will remain in their current location under the direction of Patrick Kennedy, head of Gallagher’s Eastern region retail property/casualty brokerage operations.

Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 57 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.

NJM Insurance Group

NJM Insurance Group now offers its full complement of personal and business insurance in Maryland and full line of business insurance in Delaware.

Maryland residents can now apply for the company’s auto, homeowners, condo and personal umbrella insurance policies. Workers’ compensation, commercial auto, commercial general liability, businessowners policy and commercial excess and umbrella insurance are now available to Delaware and Maryland business owners.

The company now offers personal insurance in Connecticut, Maryland, New Jersey, Ohio and Pennsylvania. NJM’s business insurance is available in Connecticut, Delaware, Maryland, New Jersey, New York and Pennsylvania.

Arthur J. Gallagher, Alpha Surety & Insurance

Arthur J. Gallagher & Co. acquired Little Rock, Ark.-based Alpha Surety & Insurance Brokerage LLC.

Founded in 2002, Alpha Surety focuses primarily on selling direct and wholesale commercial surety bonds in key industry sectors, including money transmitters, cryptocurrency, professional employer organizations, debt managers, mortgage/finance lenders, fundraisers and others. The team serves clients throughout the United States, as well as Puerto Rico and the U.S. Virgin Islands.

Alpha Surety will continue to operate from its current location under the direction of Kevin Garvin, head of Gallagher Affinity.

Arthur J. Gallagher & Co. is a global insurance brokerage, risk management and consulting services firm headquartered in Rolling Meadows, Illinois.

JZZ, Beacon Insurance Solutions

JZZ Technologies Inc. has acquired Florida-based Beacon Insurance Solutions, part of its continuing effort to reach the senior adult market with insurance and other services, the companies announced.

Beacon, an agency headquartered in St. Petersburg, Florida, and licensed in 37 states, has served the 55 and older age group.

JZZ, a publicly traded company based in Phoenix, calls itself a technology company that reaches older Americans through online media.

Orchid Underwriters, R&Q Accredited

Orchid has partnered with R&Q Accredited, to provide more options in storm-swept coastal states. Orchid has specialized in catastrophe-exposed property insurance. Accredited, part of Randall & Quilter Investment Holdings, entered the U.S. market two years ago and has focused on program management and legacy insurance, according to a news release. The Accredited program will become part of Orchid’s algorithm, which adjusts for risk aggregation and other factors, the company said.

Custard, Specialty Group Inc.

Custard Companies, parent organization to Custard Insurance Adjusters, has acquired Florida-based Specialty Group Inc., an investigations and third-party administrator firm. Specialty, which opened in 1995, provides investigations and adjustments in all lines, including casualty and workers’ compensation claims, along with special investigations unit services and background checks, the companies said in a news release. The 60-year-old Custard, headquartered in the Atlanta area, calls itself a nationally recognized claims solutions provider. It has focused on emergency response and general services for the transportation industry.

DOXA Insurance Holdings, AGIA

AGIA Inc. in Carpinteria, Calif., and its sister company Worldwide Rescue and Security, Inc. have been acquired by DOXA Insurance Holdings LLC.

AGIA will continue operations under the leadership of CEO Chris Burke, and will retain the AGIA and Worldwide Rescue and Security names.

AGIA is an affinity focused program manager.

DOXA Insurance Holdings is a Midwest-domiciled holding company that acquires specialty niche-focused insurance distribution companies.