Business Moves

Arch, Thimble

Arch Insurance has acquired Thimble, an insurtech platform that enables small businesses to get insurance coverage by the job, month or year using app, website, or over the phone.

Terms were not disclosed.

Arch said the acquisition expands its suite of digital solutions for small business customers and brokers. Since May 2018, Thimble has delivered more than 170,000 policies to small businesses across the U.S. Thimble works with a variety of carriers including Markel and Employers.

Thimble will continue growing the business with its existing carrier partners and offer new solutions through Arch.

BAN, Alera Group

Benefit Advisors Network (BAN), an international network of employee benefit brokers and consulting firms from across the U.S. and Canada, and the National Benefits Center (NBC), are spinning off from Alera Group, an independent, national insurance and wealth services firm, to become an independent organization.

Perry Braun, who previously held the role of BAN’s executive director, will lead the organization moving forward.

Most recently serving as managing director of business consulting at Alera Group, Braun is acquiring BAN from Alera Group. Braun assumes the position of president and chief executive officer of BAN. He will use his extensive expertise to oversee the transition of BAN to an independently owned company.

Prior to joining Alera Group, Braun was part of the team that helped launch Alera Group in 2017. In his role as managing director of business consulting, he focused on key initiatives including working with managing partners to improve business performance contributing directly to stronger results, and partnering with the property/casualty team to build a new premium finance program for Alera Group’s P/C partners.

Hub, Weiss-Schantz Agency

Global insurance broker Hub International Limited acquired the assets of Weiss-Schantz Agency in Pennsylvania.

Located in Lehigh Valley and serving eastern Pennsylvania, Weiss Schantz is an independent insurance agency that serves commercial and municipal insurance clients.

Tim Schantz Sr., president, and Tim Schantz Jr., vice president, and the Weiss Schantz team will join Hub Three Rivers.

Terms of the transaction were not disclosed.

Headquartered in Chicago, Hub International has more than 16,000 employees in offices located throughout North America.

World Insurance Associates, TJ Woods Insurance Agency

Insurance broker World Insurance Associates acquired the business of Thomas J. Woods Insurance Agency Inc. of Worcester, Massachusetts.

TJ Woods was founded in 1949, and is a property/casualty agency, providing personal and business insurance.

Terms of the transaction were not disclosed.

World Insurance Associates is headquartered in Iselin, New Jersey.

Risk Strategies; May, Bonee & Clark Insurance

National specialty insurance broker Risk Strategies has acquired May, Bonee & Clark Insurance, a Connecticut-based business and personal insurance, employee benefits and risk management firm. The firm also offers securities and investment advisory services.

Formed through the merger of May, Bonee & Co. and the Clark Agency, MB&C has served the greater Hartford area for more than 35 years. Today, the firm is based in Glastonbury, and led by its principals, Tom and Daniel Clark and Ryan Friedman.

Terms of the deal were not announced.

Risk Strategies has more than 100 offices and more than 30 specialty practices serving commercial companies, nonprofits, public entities, and individuals, and has access major insurance markets.

Hub, Horizon Agency

Hub International has acquired the assets of Horizon Agency Inc. (Horizon Agency), located in Eden Prairie, Minnesota.

Terms of the transaction were not disclosed.

Horizon Agency provides commercial and personal insurance, and employee benefits. Horizon specializes in various industries, including real estate, entertainment and sports, and healthcare, which supports Hub’s specialty practices by complementing and strengthening Hub’s existing capabilities.

Dan Scattarella, founder and CEO; Jake Hoeschler, principal; Neal White, president, and the Horizon Agency team will join Hub Great Plains.

Horizon Agency was represented by the consulting firm BH Burke & Co. for the transaction.

Arthur J. Gallagher, Boley-Featherston Insurance

Arthur J. Gallagher & Co. has acquired Wichita Falls, Texas-based Boley-Featherston Insurance.

Terms of the transaction were not disclosed.

Boley-Featherston is a retail insurance agency with expertise in oil and gas, construction, health care and benefits consulting, serving clients throughout Texas and the surrounding region.

Josh Andrajack, Cameron Cremeens, Robbie Martin and their team will remain in their current location under the direction of Bret VanderVoort, head of Gallagher’s South Central retail P/C brokerage operations.

OGA, Jaeger + Haines

One General Agency (OGA) of Oklahoma City has acquired Jaeger + Haines Inc., a wholesale broker in Fayetteville, Arkansas.

Since 1976, Jaeger + Haines has served agents across Arkansas, Missouri, Oklahoma and Tennessee, writing excess and surplus lines commercial insurance.

Founded in 1951, Oklahoma-based OGA is a second-generation, family-owned wholesaler led by Jennifer Dotter, president, and CEO. The firm provides E&S markets, standard markets, and premium financing to independent agents in Oklahoma, Texas, New Mexico, Kansas, Missouri, and Arkansas. It offers a broad array of solutions across various specialty divisions, including cannabis, professional lines, standard lines, and energy and environmental. OAG said the acquisition will allow it to increase their footprint in Arkansas and Missouri and expand into Tennessee.

The terms of the transaction were not disclosed.

Inszone, Champions Insurance Group

Inszone Insurance Services, a national provider of benefits, personal, and commercial lines insurance, has acquired Champions Insurance Group, an agency with a decade-long track record in the Houston community and a strong reputation for delivering personalized insurance services. Champions has earned recognition for its understanding of Chinese culture and family values, primarily catering to commercial clients in protecting their businesses, employees, and personal interests.

This strategic acquisition enables Inszone to strengthen its presence in the Texas insurance market and expand its reach within the Chinese community. It also will provide Champions Insurance Group’s clients with access to a broader range of insurance products and services.

Tailrow Insurance Co.

Tailrow Insurance Co., part of HCI Group, has been approved by the Florida Office of Insurance Regulation as a domestic homeowners multiperil insurer.

HCI Group, which is the parent company of Homeowners Choice and TypTap Insurance, will hold all 2.5 million shares of common stock in Tailrow, valued at $1 per share.

The OIR consent order shows that the company will put up $300,000 to meet statutory deposit requirements. The office is requiring a catastrophe loss model with probable maximum loss estimate amounts for a one-in-100-year storm, based on exposure, the AM Best rating firm reported.

Tailrow would have to take corrective action to cure any overexposure identified by regulators. It also needs to file a disaster coordination and response plan with the office.

Alera Group, Wilson Washburn

Alera Group, a nationwide wealth services and insurance firm, acquired Wilson, Washburn & Forster insurance agency in Miami.

Wilson Washburn, founded in 1961, offers commercial and personal lines products, including coverage for aviation, food and hospitality, manufacturers, marine risks, medical facilities, social service organizations and more.

Alera noted that it has some $1.2 billion in annual revenue and offers employee benefits, P/C insurance, retirement plans and wealth services to clients around the country.

Specialty Program Group, Squaremouth

Specialty Program Group, a holding company established to acquire specialty insurance firms, has purchased the travel insurance service known as Squaremouth.

Headquartered in St. Petersburg, Florida, Squaremouth offers travel insurance through a digital quote and comparison platform and has insured more than three million travelers.

New Jersey-based SPG is part of Hub International, a global insurance broker.

DOXA, Preferred Aviation Underwriters

DOXA Insurance Holdings, an Indiana firm, has acquired Georgia-based Preferred Aviation Underwriters, a managing general agent.

PAU, headquartered in Duluth, Georgia, was founded in 2005 by pilots and industry veterans Kim Stufflet and Tom Adderhold. The MGA offers property, auto, inland marine and excess coverage for airports and adjacent facilities.

Stufflet and Adderhold will continue to lead Preferred Aviation, along with partners Rob O’Neil and Chris Carter.

Hub, DeFranco Insurance

Hub International Ltd. acquired the assets of DeFranco Insurance Inc. in Seattle, Washington.

John DeFranco, president, and the DeFranco Insurance team will join Hub Northwest.

DeFranco Insurance is an independently owned and locally operated insurance agency specializing in personal and commercial insurance services.

Chicago, Illinois-based Hub is an insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services.