Business Moves
Hilb, Vinton Insurance Services
The Hilb Group acquired Towson, Maryland-based Vinton Insurance Services, building on the company’s growing presence in the Mid-Atlantic region and further expanding its employee benefits business.
Peter Vinson and his team will join with Hunt Valley, Maryland-based PSA Insurance & Financial Services, a Hilb Group agency.
The Hilb Group, based in Richmond, Virginia, is a portfolio company of The Carlyle Group, a global investment firm. Hilb Group has completed more than 145 acquisitions and has more than 100 offices in 22 states.
NFP, Juno Search Partners
Insurance broker NFP acquired Juno Search Partners, a Philadelphia-based search and staffing firm.
Juno specializes in contingent search, contractor placement, executive search and custom talent for employers. Juno co-founders Mikal C. Harden and Vicki Sack will join NFP as senior vice presidents.
NFP is a property/casualty broker, benefits consultant, wealth manager, and retirement plan advisor with more than 7,000 employees globally. NFP is a portfolio company of Madison Dearborn Capital Partners, which is based in Chicago.
Relation, Garrity Agency
California-headquartered broker Relation Insurance Services has acquired the assets of Garrity Insurance in Cambridge, Massachusetts.
Serving Massachusetts individuals and businesses for more than 100 years, Garrity has offices in Dedham, Marblehead, Salem and Belmont, in addition to its headquarters in Cambridge.
Bill Garrity, president of Garrity Insurance, will continue running the day-to-day operations at the Garrity Insurance offices.
Relation Insurance Services said it is actively seeking partnerships to expand. It is ranked by Insurance Journal within the top 25 largest agencies in the country by revenue and has approximately 1,350 employees across more than 137 locations nationwide.
Relation is a privately held corporation backed by Aquiline Capital Partners, a private equity firm based in New York and London.
M&T Insurance Agency, Powers Insurance & Risk Management
St. Peters, Missouri-based M&T Insurance Agency recently merged with Powers Insurance & Risk Management.
M&T Insurance Agency owner Mark Tomlin will continue to serve his clients in a new role as Powers’ Risk Management Advisor.
M&T Insurance Agency was founded by Tomlin in 2006 and was a member of Powers’ sister company Valley Insurance Agency Alliance for nearly 14 years.
Tomlin brings more than 25 years of insurance industry experience to Powers Insurance & Risk Management. He holds a Life Underwriter Training Council designation, a life/health insurance license, and a property/casualty license.
Tomlin’s responsibilities include generating leads for personal lines accounts, as well as retaining new and renewal clients while promoting new business in the property/casualty marketplace.
Founded in 1991, St. Louis, Missouri-based Powers Insurance & Risk Management provides personal and business insurance, surety, risk management and employee benefits.
PCF Insurance, Milz Health
PCF Insurance Services acquired Milwaukee-based Milz Health Group, a health insurance agency providing coverage to Wisconsin Medicare-eligible individuals and coverage through the Affordable Care Act.
Milz provides health care coverage for individuals through an integrated suite of online services. Offering Medicare Advantage Plans, Medicare Supplemental Insurance policies (Medigap plans), and Medicare Part D prescription drug plans (PDP), Milz Health Group uses a unique, proprietary process to design plans with top insurance carriers that are affordable and effective.
PCF Insurance Services is a consultant and insurance brokerage firm based in Lehi, Utah.
Risk Strategies, Wallace Specialty
Risk Strategies, a national specialty insurance brokerage and risk management firm, acquired Wallace Specialty Insurance Group.
Terms of the deal were not disclosed.
Based just outside of Dallas in Richardson, Texas, Wallace Specialty was founded in 2012 to serve the dental industry.
The firm creates custom, comprehensive insurance plans for dental service organizations, dentists, and oral and maxillofacial surgeons. Wallace’s offerings include professional liability, property and general liability, workers’ compensation, management liability, individual and group benefits, among others.
Led by its founders and principals, Kyle and Terri Wallace, Wallace Specialty’s core team of insurance professionals use their deep industry expertise to successfully compete against much larger, national insurance brokerages in their region, the companies said.
The addition of Wallace Specialty Insurance Group builds on Risk Strategies overall capabilities in serving medical professionals. Risk Strategies’ National Health Care Practice operates as a fully integrated practice across product lines and geographies.
Arthur J. Gallagher & Co., PIUS
The global insurance brokerage and consulting firm, Arthur J. Gallagher & Co., has acquired Cary, North Carolina-based PIUS Limited LLC and its affiliate Newlight Capital LLC.
Terms of the transaction were not disclosed.
Founded in 2016, PIUS — Patent Insurance Underwriting Services — is managing general agent offering a proprietary insurance product that allows clients to insure certain intellectual property assets.
The head of the company, Joe Agiato, will remain at PIUS, under the direction of Patrick Kennedy, head of Gallagher’s Northeast retail property/casualty brokerage operations. Additionally, the entire PIUS team will remain in their current roles, according to a statement by Agiato published on the company’s website.
Arthur J. Gallagher is an insurance brokerage, risk management and consulting services firm headquartered in Rolling Meadows, Illinois.
King, Hunt
The still-expanding King Insurance, a brokerage, has acquired Tallahassee, Florida-based Hunt Insurance Group.
Hunt Insurance Group, a specialty broker founded in 1945, advises housing authorities, prison systems and municipalities on risk management and self-funded solutions for property/casualty and health insurance.
King Insurance was founded in 1974 and is headquartered in Gainesville, Florida. It has grown rapidly in recent years, partly through multiple acquisitions.
Towne, Lockhart
Towne Insurance Agency, with offices across Virginia and the Carolinas, has acquired Lockhart Inaurance, expanding its footprint in the Charlotte area.
Lockhart Insurance was founded in 1972 by Gregg Lockhart. Lockhart Insurance will continue to operate under its own name for the immediate future.
The acquisition is the latest expansion move by Norfolk-based Towne Insurance. The agency is owned by publicly traded TowneBank and notes it is the fifth-largest bank-owned agency in the country.
Since entering the Carolinas in 2011, Towne has completed 10 acquisitions. It has focused on home insurance, auto, business and health insurance products.
Arthur J. Gallagher & Co., Bulen & Associates Insurance Services
Arthur J. Gallagher & Co. acquired Murrieta, California-based Bulen & Associates Insurance Services Inc.
Lisa Mosby and her team will remain in their current location under the direction of Scott Firestone, head of Gallagher’s Southwest region retail property/casualty brokerage operations.
Bulen & Associates is a retail property/casualty insurance agency serving commercial clients and individuals in southern California.
Arthur J. Gallagher is an insurance brokerage, risk management and consulting services firm headquartered in Rolling Meadows, Illinois.