Business Moves
Hillb Group, Cohen Insurance
The Hilb Group acquired E.B. Cohen Insurance and Risk Management, with offices in Roseland, New Jersey, and New York, New York.
E.B. Cohen provides insurance and risk management services with a focus on hospitality, real estate, and small businesses.
Agency principals David and Neil Owens and their employees will join the Hilb Group’s tri-state regional operations.
The Hilb Group is a property/casualty and employee benefits insurance brokerage and advisory firm headquartered in Richmond, Virginia. The company has completed more than 130 acquisitions and now has more than 100 offices in 22 states. Hilb Group is a portfolio company of The Carlyle Group.
Arthur J. Gallagher, Commercial Insurance Underwriters
Arthur J. Gallagher & Co., headquartered in Rolling Meadows, Illinois, acquiredSpringfield, Missouri-based Commercial Insurance Underwriters Inc.
Founded in 1984, CIU is a surplus lines agency offering commercial, personal and professional lines coverages for businesses and individuals with complex, unique or hard-to-place risks, primarily throughout the upper and lower Midwest.
Kim Moore and her associates will remain in their current location under the direction of Matt A. Lynch, head of Central Region-Binding for Risk Placement Services Inc., Gallagher’s U.S. wholesale brokerage, binding authority and programs division.
Assurex Global, Watkins Insurance Group
Austin, Texas-based Watkins Insurance Group has joined Assurex Global, which now includes 97 independent agency partners.
Watkins Insurance Group was founded in 1949 as R.B. Lewis Agency. In 1965, the agency became Lewis-Watkins-Farmer Agency. David Watkins became the sole owner in 1985 and renamed the company Watkins Insurance Group.
David Watkins’ son, Patrick, joined the agency in 1994 after attending college at Texas A&M. Patrick Watkins became president of the agency in 2002.
The firm has grown from five employees in 1994 to more than 100 employees in four Texas locations — Austin, Georgetown, Marble Falls, and Waco. Its specialties include biotech, condos/townhomes, construction, contractors/contracting, EB-life, management liability, nonprofits, private client, real estate/developers and restaurants.
Founded in 1954 and based in Columbus, Ohio, Assurex Global is a privately held commercial insurance, risk management and employee benefits brokerage group. Assurex Global operates as an exclusive partnership with more than 600 partner offices.
NSI, HoneyQuote.com
NSI Insurance Group, one of the largest privately owned brokerage firms, acquired Florida-based HoneyQuote.com, a startup insurtech company that matches users with property insurers carriers in real time
NSI, headquartered in Miami, said HoneyQuote’s machine-learning algorithm is being used increasingly in the insurance marketplace.
The insurtech began operating in 2019, is licensed in Florida and Texas, and has worked with 30 insurance carriers to find coverage for property owners.
The acquisition will help HoneyQuote’s service expand nationwide and offer new products, the company said.
Hub, Midland Agency
Hub International has continued its growth spurt with the acquisition of of Midland Agency Insurance in Columbia, South Carolina.
Matthew Flemming, president and owner of Midland, and the rest of the Midland team will join Hub Carolinas.
Midland provides commercial and personal insurance, and specializes in the agribusiness, which adds to Hub’s specialty practices.
Hub International is a global insurance broker headquartered in Chicago. The company said it has more than 14,000 employees.
ALKEME, VPIS Financial Services
ALKEME acquired VPIS Financial Services in Ladera Ranch, California.
VPIS is a financial services firm that specializes in wealth management and corporate retirement services.
ALKEME is also based in Ladera Ranch, and is backed by GCP Capital Partners.
ALKEME provides services including property/casualty, benefits, surety, risk and wealth management.