Business Moves

Independence Pet Group Fairfax

Independence Pet Group completed its acquisition of Fairfax Financial Holdings Ltd.’s U.S. and Canadian interests in the Crum & Forster Pet Insurance Group and Pethealth Inc.

IPG purchased the pet insurers for $1.4 billion in the form of $1.15 billion cash and $250 million in seller notes.

The deal was first announced by IPG’s parent company, JAB Holding Co., in June 2022.

IPG also announced that it appointed Lane Kent as chief executive officer, effective Jan. 1, 2023. Kent has served as IPG’s chief operating officer since IPG’s formation last year.

Kent will succeed current CEO David Kettig, who will transition to vice chairman of the board of IPG.

NFP, CIC Group

Alterity Group, a subsidiary of insurance brokerage NFP, acquired CIC Group, a Buffalo, New York-based commercial insurance agency.

CIC Group principals Timothy McMullen, Gina Teresi and Chris O’Donnell will join Alterity and report to Sharla St. Rose, managing director, Alterity.

In addition to its Buffalo headquarters, CIC Group operates offices in Rochester and New York City.

Founded in 1976, CIC provides lender insurance review services, workers’ compensation, construction risk consulting, and third-party compliance and monitoring.

The transaction closed on Aug. 19.

Alliant, Trivedi Capacity Associates

Alliant Insurance Services has acquired New Jersey-based Trivedi Capacity Associates, further expanding its reach in the community association and condominium association underwriting space.

Central to the acquisition is Trivedi’s HARP risk purchasing group, which provides a range of targeted insurance products to associations nationwide.

Trivedi and HARP will be part of Preferred Concepts, a real estate focused managing general underwriter within the Alliant Underwriting Solutions programs division.

Trivedi offers a range of coverages to commercial risks including community associations that includes umbrella coverage, directors and officers liability, crime, and workers’ compensation. These programs are available to independent brokers and agents nationally.

Alliant Insurance Services is based in Irvine, California.

Arthur J. Gallagher, f3 Companies

Arthur J. Gallagher & Co. has acquired the f3 Companies. Terms of the transaction were not disclosed.

Included in the acquisition are Burnsville, Minnesota-based f3Logic LLC and f3Investment Management LLC; Richmond, Virginia-based Financial Consultants of America Inc.; Wakefield, Massachusetts-based Compass Point Retirement Planning Inc.; and Burnsville, Minnesota-based Kusske Financial Asset Management Inc.

The f3 Companies are a wealth management platform with over $1 billion in assets under advisement.

The f3 Companies will remain in their current locations under the direction of Jeff Leonard, Gallagher’s North American Business line leader for financial and retirement services.

USI, Beasley & Company

USI Insurance Services acquired Tulsa, Oklahoma-based Beasley & Company.

Beasley & Company is a regional benefit consulting firm specializing in retirement, executive compensation and health and welfare benefit plans.

The company’s operations will be combined with USI Consulting Group, a division of USI, and a premier provider of defined contribution and defined benefit plan consulting and administration services.

Marsh McLennan, Focus

Marsh McLennan Agency, a subsidiary of Marsh, acquired Focus Insurance, a personal insurance brokerage firm based in Houston, Texas.

Founded in 2001, Focus Insurance specializes in customized personal insurance programs throughout the United States.

All Focus employees, including vice president at Focus, Mickie Comiskey, will be joining MMA.

Arthur J. Gallagher, Tejas American General Agency

Arthur J. Gallagher & Co.’s U.S. wholesale brokerage, binding authority and programs division, Risk Placement Services Inc., has acquired Cedar Park, Texas-based Tejas American General Agency LLC.

Founded in 1997, TAGA is a managing general agency offering commercial, farm and personal insurance products to independent agents throughout Texas.

Bart Koch, Anita Herzog, Cindy Yurkovich, Richard Salley and their team will remain in their current location under the direction of Kevin Doyle, VP-Western Region and Chicago for RPS.

Specialty Program Group, Catapult

Specialty Program Group, an operator of specialty insurance brokerages and underwriting facilities, acquired the assets of Catapult Insurance Solutions.

Based in Carrollton, Texas, Catapult is a privately held managing general insurance agency and wholesale brokerage for niche industries and hard-to-place risks.

Led by president Tim Sunderman, Catapult’s largest delegated authority program is dedicated to providing residential homebuilders, commercial general contractors and trade contractors with best-in-class products and services, including general liability, umbrella, builder’s risk, contractor’s equipment and workers’ compensation.

In addition, Catapult is a Lloyds Coverholder and also provides solutions for hard-to-place risks for coastal and other high hazard property, specialty trade contractor GL, deductible buy downs, commercial DIC (EQ & Flood), and contractor’s equipment.

Catapult’s infrastructure is designed for program incubation and development.

Headquartered in Summit, New Jersey, Specialty Program Group is a fully licensed holding company established to acquire and scale insurance underwriting facilities and specialty businesses throughout North America.

Marsh, Bradley

Marsh McLennan Agency, a subsidiary of the global insurance broker Marsh, has acquired Bradley Insurance Agency, a commercial brokerage in Knoxville, Tennessee.

Bradley Insurance Agency was founded in 1972 by Steve Bradley and was acquired by Kendall and Kevin Bradley in 2014. All employees will be joining the Marsh team.

Marsh McLennan Agency, based in White Plains, New York, offers business insurance, benefits plans, retirement and other products. It has 170 offices across North America.

World Insurance, Clinard Group

World Insurance Associates has acquired North Carolina-based Clinard Insurance Group (CIG).

WIA, headquartered in Iselin, New Jersey, announced that it had purchased Clinard on Oct. 1.

CIG was launched in Winston-Salem in 2005, offering personal and commercial property/casualty product lines in North Carolina.

It’s the latest acquisition for WIA, which has made 160 acquisitions since it was founded in 2011.

AmTrust, DUAL

AmTrust Financial Services acquired the middle market management liability business of DUAL North America, a Florida-based specialty program administrator that offers property/casualty products.

DUAL is part of the DUAL Group, a large underwriting team based in Naples. It is a nationwide admitted program for-profit and not-for-profit entities.

The portfolio includes directors and officers liability, employment practices liability, fiduciary liability and crime coverage.

AmTrust, headquartered in New York, is a multinational insurance holding company that offers specialty products, including workers’ compensation, business liability and extending warranty coverage.

Alera, Benson Blackburn

Alera Group Wealth Services, a division of Alera Group, an insurance and wealth management firm, has acquired Benson Blackburn.

Based in Naples, Florida, BB is a specialized insurance consultancy with a focus on ultra-affluent families and closely held businesses.

Benson Blackburn specializes in life insurance, private placement life insurance, corporate benefits and business protection. The firm is a member of M Financial Group.

Prior to relocating to Naples in 2007, Benson Blackburn was in Cleveland, Ohio. Its national clientele continues to include a concentration in the Midwest and south Florida.

Founder Michael Benson launched his insurance career in 1976 and started an independent firm 10 years later. Scott Blackburn was named principal in 2015.

Both will remain with the firm as it continues under the banner Benson Blackburn, an Alera Group Company.

AmTrust, CMGIA

AmTrust Financial Services Inc. acquired Contractor Managing General Insurance Agency Inc. in California.

CMGIA offers surety bonds to small to mid-size contractors across 50 states. The company is led by Stephanie Shear, a surety underwriter with more 40 years of experience.

Shear will join AmTrust’s surety business along with several underwriters and support staff from CMGIA.

AmTrust Financial Services is a multinational insurance holding company headquartered in New York.

Ryan Specialty, Centurion

Ryan Specialty acquired certain assets of Centurion Liability Insurance Services LLC in Tustin, California.

Centurion is a professional lines wholesale insurance broker and has employees based in Florida and California.

Prior to the acquisition, Centurion was partially owned by Insurance Office of America.

Ryan Specialty is a service provider of specialty products and services for insurance brokers, agents and carriers.

Ryan Specialty provides distribution, underwriting, product development, administration and risk management services by acting as a wholesale broker and a managing underwriter with delegated authority from insurance carriers.