Business Moves

Renaissance, Agency Network Exchange, United Valley Insurance Services

Massachusetts-based insurance agency network Renaissance Alliance acquired Agency Network Exchange, a 60-member exchange based in New Jersey, and Fresno, California-based United Valley Insurance Services, with 92 member agencies. ANE and United Valley will continue to operate under their current brands and current leadership. Renaissance itself was purchased in 2018 by Long Arc Capital.

ANE, founded in 2009 by two New Jersey-based agencies, expanded into Pennsylvania and New York and has become a rapidly growing network of independent agencies.

United Valley Insurance Services was founded in 1983 as a Central Valley insurance agency network with seven member agencies.

Acrisure, Appalachian Underwriters

Financial services distribution firm Acrisure acquired Appalachian Underwriters, a national managing general agency and third-party administrator, along with its affiliated entities.

Oak Ridge, Tennessee-headquartered Appalachian places more than $400 million gross written premium into the insurance market through its MGA and wholesale distribution channels. Core business divisions of Appalachian include workers’ compensation, commercial specialty, personal lines and transactional wholesale. Appalachian’s programs and underwriting facilities are distributed on a national basis and are supported by domestic carriers and Lloyd’s of London.

Hub, Raffa

Hub International acquired Rockville, Maryland-based Raffa Financial Services, an insurance and benefits brokerage and consulting firm. Raffa serves the Virginia, Maryland and D.C. area. Hub, based in Chicago, offers risk management, insurance, employee benefits, retirement and wealth management products.

MountainOne, Cross Insurance

MountainOne Insurance Agency, based in northwestern Massachusetts, acquired the Cross Insurance agency branch in Pittsfield, Massachusetts, and plans to keep of the Cross Insurance employees there. Cross Insurance was formed in 2016 when Cross purchased Bardwell, Bowlby & Karam Insurance Agency and Colt Insurance Agency, two agencies in Pittsfield.

Founded in 1848, MountainOne offers personal lines, business property/casualty insurance, surety bonding and employee benefits.

Alera Group, Gales Agency

Alera Group acquired Gales Agency Inc., an independent insurance agency providing a full line of insurance products including home, business, auto and life insurance policies to protect families. Gales Agency is based in Oceana County, Michigan, and provides products and services throughout the state. Gales Agency joins Alera Group through Lighthouse, an Alera Group company headquartered in Michigan.

World Insurance Associates, Safety Consulting

World Insurance Associates acquired Safety Consulting Inc. of Topeka, Kansas.

Safety Consulting, provides loss control and risk management services that include safety training, site inspections, and safety supply equipment across its diverse customer base, ranging from construction, manufacturing, transportation, municipalities, national trade associations and oil industries.

Wright National Flood Insurance, Westfield Insurance

Wright National Flood Insurance Co. is acquiring the current flood insurance book of business from Westfield Insurance Co. and will service, administer and issue flood coverage under the National Flood Insurance Program for Westfield policyholders and agents. Wright also assumes the servicing of Westfield’s private flood business.

Wright specializes in flood insurance.

Ohio-based Westfield, a super-regional property/casualty insurance company, offers personal insurance in 10 states, commercial insurance in 21 states and surety products in 50 states through independent agencies. It is expanding into excess and surplus lines business and acquired the renewal rights of all U.S. specialty business of Argo Group, effective Jan. 1, 2022.

Zurich American, Special Insurance Services

Zurich American Insurance Co., a subsidiary of Zurich Insurance Group, completed the acquisition of Special Insurance Services Inc., a Texas-based program manager that develops, underwrites, distributes and administers specialty insurance products for small and midsize employers. SIS offerings include gap medical and occupational accident insurance. SIS’ Texas work force will continue to serve customers through the SIS brand.

Brown & Brown Lone Star, Harco Insurance Services

Brown & Brown Lone Star Insurance Services Inc., a subsidiary of Brown & Brown Inc., acquired substantially all of the assets of Texas-based Harco Insurance Services, an independent retail insurance agency serving businesses and individuals throughout Texas. The Harco team will continue operating from their Houston office as a branch location of Brown & Brown’s Houston retail operations.

PointeNorth, Alabama Insurance Exchange

PointeNorth Insurance Group, a regional agency, acquired Alabama Insurance Exchange, based in Birmingham.

AIE is now part of the PointeNorth Alliance, which offers access to additional carriers and services. The Exchange provides commercial and personal lines and is headed by Clayton Taylor Jr.

PointeNorth has operations in Georgia, Alabama and South Carolina.

HCI, United

HCI Group Inc. plans to buy three of United Insurance Holdings’ personal lines in Georgia and the Carolinas. The move allows United Insurance Holdings to reallocate capital to its commercial specialty property portfolio, according to the company.

HCI will provide 85% quota-share reinsurance on the in-force, new and renewal policies of United Property and Casualty Insurance in Georgia, North Carolina and South Carolina through May 31, 2022.

UPC’s 15% quota-share reinsurance with another reinsurer is expected to remain in place during this period.

King Insurance, AGM, Fordham

King Insurance, a Gainesville, Florida-based insurance broker and employee benefits firm, acquired AGM Insurance Agency and Fordham Insurance Agency, both in Fort Lauderdale, Florida. King Insurance also acquired Piedmont Insurance Associates Inc., a commercial and personal lines agency based in Covington, Georgia.

Fordham and AGM were founded 33 years ago by Mitch and Ginger Renfroe. Fordham is the commercial lines division; AGM is the personal lines division. The agencies and their teams will continue operating in their current offices, servicing clients under the King Insurance name.

David Wilson is Piedmont principal; Phil Boswell is president. The agency’s staff will continue operating out of their current locations in Georgia.