Business Moves
Applied Systems, Tarmika
Applied Systems acquired Tarmika, a commercial lines rating solution that streamlines small business insurance.
Tarmika will be integrated with Applied Epic and EZLynx. Over time, users can expect embedded commercial lines quoting capabilities powered by Tarmika natively in the management systems. Additionally, Tarmika’s panel of commercial lines products will be integrated into Ivans Distribution Platform to streamline the submission process through standardized digital connections to agency-facing systems.
Recently, Pie Insurance, an insurtech company specializing in workers’ comp insurance for small businesses, announced a strategic partnership with Tarmika.
Hub Buys Delaware’s KT&D
Insurance broker Hub International Limited has acquired KT&D Inc. in Wilmington, Delaware.
KT&D provides multi-line insurance services, including medical malpractice, commercial and personal, and employee benefits coverage. Scott Yerkes, CEO, and Kelly McGovern, president, and the KT&D team will join Hub Mid-Atlantic.
Cross Insurance, Maine Insurance Agency
Cross Insurance racquired Maine Insurance Agency of Portland. The acquisition of Maine Insurance Agency, a fifth-generation family-owned business, expands the coastal region division of Cross.
Founded in 1905, Maine Insurance Agency offers insurance for homes, autos, recreational products and small businesses. The agency’s two offices in Portland and Gray will be rebranded under the Cross Insurance name. Cross said it will retain Jeff Steinman, president and CEO, and all personnel affiliated with the agency.
Dave Messersmith, president of Cross Insurance-Coastal Region, said the firm plans to continue to expand in the coastal region. Cross acquired three Massachusetts agencies this year: Northern Benefits, Harold Humphrey Agency and Byfield Agency. Cross also opened a Newburyport, Mass,. branch office, further bolstering its presence in the coastal market.
Maine-based Cross owns more than 120 insurance agencies throughout the Northeast and has employees in Maine, New Hampshire, Vermont, Rhode Island, Massachusetts, Connecticut, New York and Florida.
Eastern Insurance, Burns Agency
Eastern Insurance Group has acquired the John T. Burns Insurance Agency in Newton, Massachusetts.
Family-owned since 1892, Burns Insurance offers personal auto and home insurance from carriers including Arbella, Safety, Plymouth Rock, Hanover, Quincy Mutual and Vermont Mutual. It also offers business and professional lines coverages and life insurance.
Steven Oakes is president and Ed Timmerman is sales manager.
Eastern Insurance Group, headquartered in Natick, Massachusetts, is a subsidiary of Eastern Bank and is licensed to do business in every state,
Hilb Group, Lighthouse
The Hilb Group acquired Massachusetts-based Lighthouse Insurance Agency.
Based in the Dorchester neighborhood of Boston, Lighthouse specializes in personal and commercial insurance for transportation risks with a focus on livery and taxis. The agency also offers personal auto, homeowners and umbrellas, as well as coverages for small businesses, restaurants and contractors.
Agency principal Brian Boucher and his staff will join Hilb Group’s New England regional operations and Hilb Group’s transportation practice.
Richmond, Virginia-based Hilb Group is a portfolio company of The Carlyle Group, a global investment firm.
Inszone, First Bosnian
Inszone Insurance Services acquired First Bosnian Insurance, its second acquisition in the state of Missouri.
First Bosnian Insurance opened in 2005 with the goal of helping the growing community of Balkan and Eastern European people coming to America.
Ibrahim Vajzovic and his wife Fazira were able to provide information and coverage to a vastly underserved community that wanted assistance from a native Bosnian speaker.
As the community grew, many businesses and commercial truckers were emerging, and First Bosnian Insurance was able to be at the forefront of supporting their insurance needs.
Truist, BenefitMall
Charlotte-based Truist Insurance Holdings has agreed to acquire Dallas-headquartered BenefitMall, a wholesale benefits general agency.
Truist officials said in a news release that the purchase will bring in an extra $150 million a year for Truist’s wholesale division.
The deal is expected to close in the third quarter of this year.
Through a network of some 20,000 retail brokers, BenefitMall provides employee benefits to more than 140,000 small and medium-sized businesses across the country.
Truist is a subsidiary of publicly traded Truist Financial Corp.
BenefitMall will become part of Truist’s CRC Insurance division, a spokesperson said.
Hub, Bubrig
Hub International Limited announced that it has acquired the assets of Bubrig Insurance Agency Ltd.
Located in Belle Chasse, Louisiana, Bubrig Insurance Agency is an independent agency providing personal insurance solutions, including home, auto, flood, life and recreation.
Bill Bubrig, president, and the entire Bubrig Insurance Agency team will join Hub Gulf South.
World Insurance, Consumers Choice Underwriters
World Insurance Associates LLC has acquired Consumers Choice Underwriters Inc. of Miramar, Florida.
Consumers Choice writes property/casualty insurance throughout Florida including homeowners, commercial and special event insurance.
The agency was founded in 2010 by Maria Pineda and is currently owned by Giovanni Gutierrez.
World Insurance Associates, based in Iselin, New Jersey, ranks No. 24 on Insurance Journal’s Top 100 Agencies.
Alera, Jowers-Sklar Insurance
Alera Group has acquired Jowers-Sklar Insurance, a Georgia-based independent agency specializing in property/casualty insurance in the Southeast.
The agency serves Floyd County, Georgia, and the surrounding area, as well as clients in 16 states. It offers business and personal insurance, with specialities in equipment rental, childcare and restaurants.
Jowers-Sklar joins Alera Group through Propel Insurance, an Alera Group company headquartered in Tacoma, Wash.
The Jowers-Sklar team will continue serving clients in their existing roles.
Alera is headquartered in Deerfield, Illinois, and has offices around the country. It was formed in 2017 from the merger of 24 companies.
Virtus Brokerage, Kemmons Wilson
Virtus LLC, a Kansas City-based insurance brokerage and consulting firm, has joined forces with Kemmons Wilson Insurance Group, a Memphis company that specializes in insuring hospitality and hotel firms.
The combined firm will have more than 100 employees and a book of business of more than $250 million in premium and $20 million in revenue, according to the announcement regarding the transaction.
Virtus was founded in 2013. Andrew Gray is CEO.
Kemmons Wilson was formed in 1952 to insure Kemmons Wilson’s hotel properties.It is now a full-service agency focused on the hospitality sector.
Higginbotham, Holman
Higginbotham, a Texas-based independent insurance and human resources firm, acquired Georgia-headquartered Holman and Co., a commercial and personal lines property/casualty insurance and benefits broker.
Holman and Co., founded in 1983, is based in Alpharetta.
It is led by Bill Holman with his brothers Alan Holman and Bob Holman, who purchased the agency from their father, Penn Holman, in 2021.
Holman and Co. serves mid-sized companies and specializes in coverage for the forest products, real estate, food and beverage, manufacturing, distribution and wholesale and construction sectors.
Arthur J. Gallagher, Evergreen Insurance Managers
Arthur J. Gallagher & Co.’s Risk Placement Services Inc. acquired Hillsboro, Oregon-based Evergreen Insurance Managers Inc.
Dyan Bates, Nancy Schultz and their associates will remain in their current location.
Evergreen Insurance Managers is a wholesale insurance broker and managing general agency offering commercial insurance services for a variety of industries. The team serves clients throughout the Pacific Northwest.
RPS is Arthur J. Gallagher’s U.S. wholesale brokerage, binding authority and programs division.
Arthur J. Gallagher, an insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois.
PCF Insurance, A Insurance
PCF Insurance Services acquired A Insurance Agencies in Utah, a personal lines insurance provider specializing in life, home, auto, and business. The firm has offices in Syracuse, Kaysville, and Marriott-Slaterville.
Lehi, Utah-based PCF is a consultant and insurance brokerage firm offering a broad array of commercial, life and health, employee benefits, and workers’ compensation services.
Arthur J. Gallagher & Co., Denver Agency
Arthur J. Gallagher & Co. acquired Denver, Colorado-based Denver Agency.
Denver Agency is a personal lines-focused insurance agency that serves high-net-worth and ultra-high-net-worth clients throughout the U.S. It also offers commercial property/casualty services.
Eric Gordon, Chip McKeever, Katy Hyman Roth and their team will continue to operate from their current location under the direction of Jeff Saunders, head of Gallagher’s U.S. personal lines business, and Jay Eshelman, head of Gallagher Select, its U.S. P/C operations for small businesses.