Business Moves
Curi, Constellation
Curi Holdings Inc. and Constellation Inc., two national providers of medical professional liability insurance, signed an agreement to merge.
Curi CEO Jason Sandner will remain CEO of Curi Holdings. Constellation President and CEO Ryan Crawford will serve as CEO of the merged insurance business.
The 10 directors serving on each company’s board at closing will come together in equal representation to govern the merged organization.
Combined, the two organizations will build on their legacies of mutual ownership, client service, and innovation while creating a national brand that seamlessly delivers the products, services, and valued advice that healthcare providers need to thrive in a rapidly evolving landscape, according to the merger announcement.
The merger is expected to close in the second half of 2023.
Following the merger, the insurance company subsidiaries of Curi and Constellation will continue to operate under the consolidated mutual holding company, such that the policies held by their insureds will remain in force.
The merged company will serve more than 50,000 physicians, healthcare providers, and organizations across the U.S.
Westfield, Lloyd’s of London Syndicate 1200
Westfield Center, Ohio-based Westfield, a 175-year-old U.S.-based property/casualty insurance company, has completed the acquisition of Lloyd’s of London Syndicate 1200 from Argo Group International Holdings Ltd.
The deal was first announced in September 2022.
Westfield said the acquisition establishes the company as a global franchise, accelerates Westfield Specialty’s growth after a strong first 18 months in the U.S. market, and puts the overall Westfield Specialty portfolio in excess of $1 billion in premium.
Westfield Specialty President Jack Kuhn has a wealth of experience leading global, multi-billion-dollar businesses, the company said. Together with Graham Evans, Westfield Specialty executive vice president and head of International Insurance, they will build on the existing strength of Syndicate 1200 and create an underwriting-focused, market-leading Lloyd’s business as a core part of Westfield Specialty, according to the company.
Kuhn and Evans have a long-established professional relationship spanning more than 20 years in the global specialty market.
Union Bay, Franchino Agency
Princeton, New Jersey-based Union Bay Acquisition, an aggregator of insurance agencies, has acquired Franchino Agency, Inc. in Hillsborough, New Jersey.
Franchino Agency, headed by Gabe Frangione, president, offers personal and commercial lines policies.
Union Bay Acquisition owns property/casualty insurance agency Union Bay Risk Advisors, and acquires small insurance agencies in the Northeast and Midwest.
Highstreet, Davis Insurance Agency, Michael Pigott Agency
Michigan-based independent insurance agency Highstreet Insurance Partners has acquired two Pennsylvania insurance agencies: Lock Haven-based Davis Insurance Agency and Bensalem-based Michael Pigott Agency.
Both firms will join Highstreet’s Northeast Region and will report to James Hutchinson, chief marketing officer and president, Northeast region.
Davis has locations in Lock Haven, Williamsport, Northumberland, Hanover, Dushore, Tunkhannock, Warren, Brookville, and Huntingdon. Established in 1973, the agency sells personal and commercial lines insurance and also offers insurance programs including ones for car dealerships, truckers and habitational.
The family-owned Michael Pigott Agency sells personal and commercial lines. It serves Bensalem and the surrounding communities including Cornwells Heights, Andalusa, Croydon, Langhorne, Levittown, Penndel, Bristol, Yardley, Newtown, Philadelphia, Trevose, Feasterville, Southampton and Warminster. It is also licensed in New Jersey, Delaware and Indiana.
Highstreet was founded in 2018.
Davies, MVP Advisory Group
Davies announced the acquisition of MVP Advisory Group LLC, the consulting business specializing in advisory and transformation projects for the property/casualty and life and health insurance markets.
With headquarters in Chicago, MVP’s insurance and technology specialists manage projects in all areas of insurance including underwriting, policy administration, claims management, client experience, finance, compliance, data warehousing, data, analytics, human resources, and information technology.
Davies has established and expanded its operations in the U.S. through a combination of strong organic and M&A growth in recent years.
The firm now offers a full range of TPA and loss adjusting products and services across all 50 states, as well as captive management, auditing, actuarial, subrogation, excess claims management and risk and inspection solutions.
A global organization, Davies has operations in Bermuda, Canada, India, Ireland, Spain, Switzerland, the UK, and the U.S.
Valley Insurance Agency Alliance, Miller Mid-America
Springfield, Illinois-based Miller Mid-America Insurance Agency recently joined Valley Insurance Agency Alliance, a cohesive family of more than 160 independent insurance agencies in Missouri and Illinois.
Founded in 2022, the veteran-owned and operated Miller Mid-America Insurance Agency was created by owner Shawn Miller. Miller Mid-America Insurance agency specializes in auto, home, commercial, and life insurance.
Prior to working in the insurance industry, Shawn Miller served as a special agent and investigator before retiring from the Air Force after 23 years.
Founded in 2006, Valley Insurance Agency Alliance is the regional founding member for the Strategic Insurance Agency Alliance.
DOXA Insurance Holdings, Bradshaw Insurance Group
DOXA Insurance Holdings, headquartered in Fort Wayne, Indiana, has acquired Bradshaw Insurance Group Inc. (BIG), a sixth-generation insurance organization.
BIG is a Delphi, Indiana-based managing general agent offering a full suite of services specializing in niche transportation insurance products, including a driver’s association, claims administration and a brokerage division.
Stacy Bradshaw will continue leading Bradshaw Insurance Group as president and will continue Bradshaw’s track record of providing differentiated products and services to its insureds and carrying out BIG’s next stage of strategic growth.
DOXA Insurance Holdings acquires specialty niche-focused insurance distribution companies such as managing general agencies, wholesale brokers, and program administrators.
Inzone, Austin Insurance
Inszone Insurance Services has acquired Austin Insurance.
Established in 2005 by Cole Austin, Austin Insurance has provided insurance services in Grand Prairie, Texas, for more than a decade.
Operations for Austin Insurance will continue under Inszone Insurance’s Dallas location. Customers will continue to receive the same services under the Inszone Insurance brand.
Arthur J. Gallagher & Co., Remco
Arthur J. Gallagher & Co. subsidiary Risk Placement Services Inc. acquired Austin, Texas-based Remco Insurance Agencies Inc.
With roots going back to 1987, Remco Insurance is a retail non-standard auto insurance agency serving clients throughout Texas.
Rahim Peerbhai and his associates will remain in their current locations under the direction of Jorge Barcena, president of RPS Pronto.
PCF Insurance Services, Oak Point Risk Advisors
Lehi, Utah-based PCF Insurance Services (PCF) acquired Oak Point Risk Advisors, a niche risk management and insurance agency focusing on commercial insurance for the maritime, oil and gas, and construction industries.
The terms of the deal were not disclosed.
Led by President Ronny Sternfels and based in Louisiana, Oak Point Risk Advisors is an insurance and risk management services company that works closely with businesses along and on the Gulf of Mexico.
PCF Insurance Services is a full-service consultant and insurance brokerage firm offering an array of commercial, life and health, employee benefits, and workers’ compensation products and services.
Risk Strategies, Tanenbaum-Harber
Risk Strategies, a national insurance brokerage, has acquired Florida’s Tanenbaum-Harber, a risk management and insurance advisor.
Based in Miramar, Florida, Tanenbaum-Harber traces its beginnings to 1860. It is considered one of the largest independent property/casualty agencies in South Florida, the companies said.
The terms of the deal also included Tanenbaum-Harber of California, headquartered in San Diego.
Risk Strategies has more than 100 offices around the country.
Alera Group, John Hackney Agency
Alera Group, an independent insurance and wealth management firm, has acquired the John Hackney Agency in North Carolina.
Hackney, with offices in Wilson, in the eastern part of the state, was founded in 1895 by the Hackney brothers’ great-grandfather. The company offers all lines of insurance.
The agency will now be part of TriSure, an Alera Group company headquartered in Raleigh, North Carolina.
Alera, headquartered in Deerfield, Illinois, has more than 4,000 people in 180 offices around the country.
Alera Group, Collective:ChoiceInsurance Solutions
Alera Group acquired Collective:Choice Insurance Solutions in Westminster, California. The Collective:Choice team will continue serving clients in their existing roles.
Collective:Choice was created in 2006 to provide a way to shop for and enroll in the Affordable Care Act plans. It is in the Covered California Certified Agent program.
The firm also offers additional insurance for accident, critical illness and hospital confinement.