Business Moves

Marsh McLennan, Affinity Agency

Association Member Benefits Advisors, a national affinity-based membership and marketing insurance agency, has agreed to acquire the associations business of Mercer, a business of Marsh McLennan.

Mercer’s association benefits business, Mercer Affinity, includes insurance marketing, distribution and administration services to association groups such as retired teachers, educators, credit unions and public employees across the U.S. Benefits offered include medical, life and dental, as well as professional and small business coverages.

The acquisition is expected to close in the second quarter of 2022.

Steve Cardinal, CEO of AMBA, said this agreement will broaden the product offerings and enhance carrier relationships for his Austin, Texas-based agency.

Element, Hoffman, L&B, Stoneburner-Carter

Pennsylvania-based Element Risk Management acquired two Pennsylvania insurance agencies and another in Virginia.

The Pennsylvania agencies are W.S. Hoffman Insurance located in Phoenixville, and L&B Insurance and Financial Services, located in Collegeville.

Element Risk additionally acquired Stoneburner-Carter Insurance, located in Front Royal, Virginia.

W.S. Hoffman Insurance Agency has been serving the five-county area surrounding Phoenixville for more than 50 years. The agency has been run for 25 years by Donald Diianni.

L&B Insurance and Financial Services was established by Jerry Lynam in 1994 and serves the Collegeville and surrounding areas.

Stoneburner-Carter Insurance was established in 1985 and is a three-generation family firm.

Element Risk is an independent insurance agency with 17 locations across Pennsylvania, Virginia and Maryland.

Relation Insurance, Ginsberg Agency

Relation Insurance Services, a national insurance agency based in California, acquired the assets of New York-based Ginsberg Agency.

Ginsberg specializes in commercial lines, particularly in the construction industry, as well as personal lines in New York. The agency has offices in Oceanside, New York.

Johnathan Ginsberg will continue working with the agency.

Alera Group, Foa & Son

Alera Group acquired Foa & Son, an international insurance broker based in New York City.

Founded in 1861, Foa & Son maintains commercial practice groups in multinational clients, food and beverage, real estate and construction, hospitality, supply chain, fine art and specie, manufacturers and distributors, professional service firms, not-for-profit, automotive, life science, technology and municipalities. In addition, Foa & Son provides private insurance advisory and corporate benefits consulting services.

Foa & Son’s employees and management will continue in their existing roles.

Alera Group, which has 130 offices throughout the U.S., is an independent, national insurance services firm with more than $850 million in annual revenue, offering employee benefits, property/casualty, and retirement plan services nationwide.

One80, PMC Insurance

One80 Intermediaries, a specialty insurance wholesale broker based in Boston, acquired PMC Insurance Group, a workers’ compensation wholesale broker and program manager.

With offices in Bedford, Massachusetts, PMC was launched in 1996 to help independent agents by providing workers’ comp specialty products.

One80 Intermediaries is a privately held firm with offices in the United States and Canada. The firm said it offers placement services and binding authority for property and casualty, financial lines, personal lines, cannabis, life insurance, medical stop-loss, alternative risk, warranty, lender-based insurance, travel/accident and health risks.

High Street, Hershey

High Street Insurance Partners in December 2021 acquired Hershey Insurance Agency, a full-service insurance firm based in Troy, Michigan.

Founded in 1979, Hershey offers personal insurance, business insurance and group benefits.

This acquisition is one of 17 finalized in December for Traverse City, Michigan-based HSIP. in terms of acquisitions.

HSIP has a geographical footprint that includes 23 states.

Relation, Davenport

California-based Relation Insurance Services Inc. acquired the assets of Wilson R Davenport & Associates LLC, headquartered in McAllen, Texas.

Davenport provides employee benefits solutions to clients throughout South Texas. Wilson “Dusty” Davenport will continue with Relation and will strengthen Relation’s existing footprint in the South Texas marketplace.

USI, D&H Risk Services

USI Insurance Services acquired Longview, Texas-based D&H Risk Services LLC.

Founded in 1936, D&H Risk Services is an independent risk management and employee benefits agency serving businesses and individuals throughout Texas.

Terms of the transaction were not disclosed.

Valhalla, New York-based USI delivers property/casualty, employee benefits, personal risk, program and retirement products and services to large risk management clients, middle market companies, smaller firms and individuals.

Alera Group, Heritage Risk Management

Alera Group, a national insurance and wealth services firm, acquired Amarillo, Texas-based Heritage Risk Management, a network of independent risk management agencies serving clients throughout Texas, Oklahoma, Colorado and New Mexico.

Heritage Risk Management’s network of independent risk management agencies offer an array of products and services, tapping into expertise from across the organization to offer thought leadership in risk management across a myriad of industries including agriculture, banking, oil and gas, construction, transportation, professional services, technology, manufacturing, healthcare, medical malpractice and employee benefits.

Gallagher, Five Points

Chicago-based Arthur J. Gallagher & Co., the global insurance brokerage and consulting firm, acquired Tennessee-based Five Points Benefits Solutions, an employee benefits provider.

Five Points serves clients in Tennessee, Georgia and Kentucky. Marisa Combs Smith, Wes Dozier and associates will continue operating at their current locales and report to Jerry Roberts, head of Gallagher’s Heartland Region for employee benefits.

Gallagher, Risk Transfer Agency

Arthur J. Gallagher & Co. also acquired Florida-based Risk Transfer Agency.

The 22-year-old agency, with offices in Orlando, offers insurance products for professional employer organizations and temporary staffing firms.

Dino Fabrizio, Jennifer Robinson and associates will remain in their current offices, and will report to Peter Doyle, head of Gallagher’s Southeast region retail property/casualty brokerage operations, and to Chris Leisz, head of Gallagher’s U.S. wholesale brokerage, binding authority and programs division.

Acrisure, Appalachian

Acrisure, a fintech company and insurance broker, acquired Tennessee-based Appalachian Underwriters, a managing general agency, along with U.S. Administrator Claims, a third-party administrator headquartered in Oak Ridge. Tennessee.

Appalachian, also headquartered in Oak Ridge, has more than $400 million in gross premium, from placing workers’ compensation, commercial specialty, personal lines and transactional wholesale policies, according to the acquistion announcement.

Liberty, Home Port

Home Port Insurance Group, in Pembroke Pines, Florida, has been acquired by The Liberty Company Insurance Brokers.

Family owned Home Port is led by Mariano Demarin.

Liberty calls itself one of the fastest-growing insurance brokers in the United States.

Gracey-Backer, Edwards Agency

Gracey-Backer Inc., a 97-year-old insurance agency in Delray Beach, Florida, acquired the Bob Edwards & Associates agency in West Palm Beach.

Edwards owner Linda Pearson is retiring and the agency will be consolidated into Gracey-Backer’s Delray Beach office, expanding the firm’s personal and commercial lines customers.

Gracey-Backer was founded in 1925 by Matthew Gracey IV and Frank Gracey. The agency offers all lines of insurance, including professional liability, personal and commercial insurance.

Ronald Backer and Barbara Backer are third-generation and John Backer, David Backer, and Katherine Backer Moyer are fourth-generation owners.

Hilb, Churchill Agency

The Hilb Group acquired membership interest in the Churchill Agency, based in Brentwood, Tennessee.

The Hilb Group is a property and casualty and employee benefits insurance brokerage headquartered in Richmond, Virginia, and is part of the portfolio of the Carlyle Group, a global investment firm. Hilb Group seeks to grow through acquisitions and through organic growth in its acquired agencies.

Charles Taylor, Contego

Charles Taylor, a claims management and technology company, acquired Orlando-based Contego Investigative Services.

Contego provides counter-fraud and special investigation services, including surveillance, social media investigations, background checks, medical facility canvasses, scene investigations and recorded statements.

Charles Taylor is an independent, global provider of claims and insurance management services and technology for commercial property, workers’ compensation and auto/liability.

Charles Taylor, Underwriters Safety

Charles Taylor, the claims management and insurtech firm, additionally acquired Kentucky-based Underwriters Safety & Claims, a third-party administrator.

US&C, headquartered in Louisville but with offices around the country, is a TPA for municipalities, utilities, school districts and private employers, specializing in workers’ compensation and liability. The firm also offers bill review, access to preferred provider organizations, utilization review, nurse triage and case management.

King, Martin

King Insurance added two more Florida insurance agencies to its rapidly growing stable of firms in the Southeast.

Don Martin Insurance, known as DMI Agency, has offices in Orlando, Fanning Springs and Cross City. Michael Michaelis has managed the agency since he acquired it in 2000. The agency provides both commercial and personal lines of insurance. Employees will continue working at the DMI offices.

Insurance Den is based in Homosassa and was founded by Dennis Dewees. Insurance Den focuses on commercial and personal lines business on Florida’s west coast.

Founded in 1974 and headquartered in Gainesville, Florida, King notes that it is a full-service insurance brokerage firm, providing property/casualty and employee benefits products.

High Street, Maritime Insurance

High Street Insurance Partners, a brokerage based in Michigan with offices in 23 states, purchased Maritime Insurance International in Charleston, South Carolina.

Martime provides boat, yacht and commercial maritime insurance and has four East Coast offices. Nick McGinty is president.

The acquisition is one of 17 finalized in December, part of High Street’s rapid-growth plan. HSIP offers business insurance and risk management, employee benefits and human capital management,financial and retirement services, and personal insurance products and services through local agencies. It has some 1,700 employees and consultants.

Relation, Allen Insurance Group

California-based Relation Insurance Services reached across the country to acquire trucking industry specialist Allen Insurance Group, headquartered in Georgia.

Based in Fort Valley, Georgia, Allen Insurance Group offers commercial lines, and daily rental and modular container programs. Gary Allen and Tricia Adams will continue with the merged company.

Relation, with corporate offices in Walnut Creek, California, is backed by Acquiline Capital Partners, a private equity firm.

Hilb, Insurance Consultants

The Hilb Group, a national property and casualty brokerage firm, acquired Insurance Consultants of Central Florida.

The Winter Park-based ICCF is a full-service broker offering individual, group and commercial insurance products. Agency principal John O’Donnell and his team will become part of Hilb’s growing presence in Central Florida.

The Hilb Group is headquartered in Richmond, Virginia, and is part of the Carlyle Group investment firm.

Oakbridge, McNeal Sports & Wilson Risk Advisers

Oakbridge Insurance Agency, a large regional agency in the Southeast, announced that it has acquired McNeal Sports & Wilson Risk Advisers, an independent agency in Waycross, Georgia.

Oakbridge CEO Robbie Smith said the move sets the stage for further growth of the firm into southeastern Georgia and northern Florida.

Oakbridge Insurance Agency was founded in 2020 with the merger of four insurance and risk management firms in the Southeast.

Weston

Florida-based Weston Insurance Co. and Weston Specialty Insurance Co. merged to form Weston Property & Casualty Insurance Co.

The new firm has been assigned an “A” rating for financial stability by Demotech and will specialize in covering natural catastrophe losses for residential and commercial properties, according to the company. Deanne Nixon is president and CEO.

Weston saw heavy catastrophe losses in recent years and a downgrade in its financial ratings. Hudson Structured Capital Management took majority ownership of Weston in 2020, providing much-needed financing, according to reports.

Weston is licensed in 14 states and operates in Florida, Louisiana, Texas and Mississippi. It has headquarters in Coral Gables, Florida.

Freeway, Can-Do & Showers Insurance Agency

Freeway Insurance, a division of Confie, acquired Can-Do & Showers Insurance Agency in Idaho.

The acquisition is the first for Freeway Insurance in Idaho, and the 150th by the company since 2008.

As part of the acquisition, Freeway Insurance will retain all Can-Do & Showers employees and maintain operations at all four retail locations across the state of Idaho under the Freeway Insurance brand.

The acquisition gives Freeway Insurance 11 retail locations across Idaho, and more than 524 nationwide.

Founded in Idaho in 1980 following a merger between Showers and Can-Do Insurance, Can-Do & Showers Insurance Agency specializes in auto insurance and personal lines insurance.

In 2008, Freeway Insurance joined Confie, a national personal lines insurance distribution company.

Risk Strategies, Burke Insurance Group

Risk Strategies acquired Burke Insurance Group LLC, a New Mexico-based commercial retail insurance agency.

The acquisition marks Risk Strategies’ first entry in New Mexico.

Headquartered in Las Cruces, New Mexico, Burke Insurance Group was formed in 1980 by its founder, Will Burke. The agency specializes in the surety bond, construction and oil and gasoline sectors in the New Mexico and West Texas region.

Risk Strategies is a specialty national insurance brokerage and risk management firm offering risk management advice and insurance and reinsurance placement for property/casualty, employee benefits, and private client services risks.