Business Moves

November 6, 2023

World Insurance Associates, Oakwood Insurance Agency

World Insurance Associates has acquired the business of Oakwood Insurance Agency LLC, also doing business as Insure Big Rig, of Califon, New Jersey.

Oakwood has been providing trucking insurance to customers since 2011. The transportation division of Oakwood, Insure Big Rig, led by John Milelli, offers truck insurance to truck owner-operators and fleets.

Terms of the transaction were not disclosed.

World Insurance Associates is headquartered in Iselin, New Jersey.

MGT Partners, CM Select Insurance Co.

MGT Partners LLC acquired CM Select Insurance Co. from Church Mutual Holding Co. Inc.

The deal is subject to regulatory approval. CM Select will be rebranded as MGT Insurance and operate as a tech-enabled risk solutions platform focused on the commercial property/casualty market.

MGT is providing further resources to expand its offering of business owners policies and package products to classes beyond religious and nonprofits, including veteran and minority-owned businesses.

CM Select is an insurance carrier that provides commercial P/C insurance to smaller religious and non-profit organizations. CM Select has a digital-first interface and distributes through third-party brokers and Church Mutual agents.

The Liberty Company, Farley-Peeples Insurance

The Liberty Company Insurance Brokers (Liberty) has acquired Farley-Peeples Insurance under the umbrella of Liberty Buren Insurance Services based in Ashland, Ohio.

Farley-Peeples has been a cornerstone of the insurance industry since 1939, serving the Mansfield, Ohio, community with comprehensive insurance and financial solutions. Bill Smith, president of Farley-Peeples, will remain engaged in the business, ensuring continuity of the company’s rich legacy and connection with longtime clients.

The Liberty Company is a producer-focused, family owned, independent insurance services firm founded in 1987 by Chairman and CEO Bill Johnson.

Inszone, DeVoy Insurance Group

Inszone Insurance Services acquired DeVoy Insurance Group, a well-established insurance agency deeply rooted in the community of Brookfield, Missouri.

DeVoy Insurance Group is run by Blake DeVoy. In 1910, DeVoy’s great-grandfather established the first insurance agency in Brookfield, later selling the original DeVoy & Co. to another local agency.

In 1982, DeVoy’s father co-founded an agency, which laid the foundation for the family’s continued legacy in the insurance business. Blake DeVoy himself entered the insurance industry in 2002 at the age of 19.

First MainStreet Insurance, United Prairie Insurance

First MainStreet Insurance (FMSI) has expanded into Minnesota through a new partnership with United Prairie Insurance (UPI).

United Prairie Insurance, previously a bank-owned agency, has roots throughout rural Minnesota. Office locations include Madison, Mankato, Mountain Lake, New Ulm, Owatonna, Spicer, Springfield, Wilmont, Windom and Worthington.

First MainStreet Insurance is an affiliate of TrueNorth Companies. The FMSI model focuses on agencies in rural communities to perpetuate their business while maintaining a local presence and legacy within their communities.

ALKEME, Cartier Insurance Group

ALKEME acquired Cartier Insurance Group, based in Houston and serving Texas, California and Arizona.

Cartier Insurance is focused on products for the trucking and transportation industry but has diversified its offerings to include a range of commercial insurance for several industries.

Ladera Ranch, California-based ALKEME is backed by GCP Capital Partners, and offers property/casualty, benefits, surety, risk and wealth management.

Higginbotham, Stahl & Associates

Fort Worth, Texas-based Higginbotham acquired Stahl & Associates, a privately held commercial brokerage headquartered in Florida.

Stahl & Associates was founded in 1983 and has offices in St. Petersburg, Lakeland, Oldsmar and Longwood, Florida.

It specializes in commercial risk and employee benefits for industries that include construction, manufacturing, nonprofit and health care. Bob Stahl is president and CEO.

The terms of the deal with Stahl & Associates were not disclosed.

NSM Insurance Group, Envisage International

NSM Insurance Group, a global specialty insurance provider, acquired Florida-based Envisage International, which writes health and travel insurance plans for international students and cultural exchange participants.

Envisage, with offices in Neptune, Florida, has two products, International Student Insurance and Envisage Global Insurance. Keith Clausen is president of Envisage International.

NSM, with headquarters in Conshohocken, Pennsylvania, said the acquisition of Envisage will add to its portfolio of specialty insurance programs.

Terms of the deal were not disclosed.

Arthur J. Gallagher, Altman Insurance Services

Arthur J. Gallagher, the global insurance brokerage and consulting firm, has acquired Kentucky-based Altman Insurance Services, an employee benefits brokerage and consultancy.

Altman, with offices in Louisville, operates in Kentucky, Indiana, Ohio and Tennessee. It was founded in 1988. Billy Altman and Mike Summerfield are principals. They and their team will remain in Louisville under the direction of Robby White, chief of Gallagher’s South Central benefits and brokerage operations.

Terms of the deal were not disclosed.

Arthur J. Gallagher is headquartered in Rolling Meadows, Illinois.

Renaissance Alliance, Agency Partners Inc.

Chicago-based Renaissance Alliance, a network of independent insurance agencies, has acquired a Georgia-based network – Agency Partners Inc. (API).

With headquarters in Alma, Georgia, API has grown rapidly in the last four years to now include 54 member agencies in Georgia and Alabama and $160 million in premium, the companies said.

David Johnson, a former captive insurance specialist, is president of API.

Terms of the deal were not disclosed.

King Insurance Partners, DMA

Florida-based King Insurance Partners has acquired North Carolina’s David L. May Jr. Agency.

Known as DMA, the agency has offices in Mount Airy and in King, North Carolina. It is a full-service commercial and personal lines agency, the companies said in a news release. The agency has been affiliated with Nationwide Mutual Insurance, which recently non-renewed some 10,000 homeowner policies in the state.

King Insurance, founded in 1974, is headquartered in Gainesville, Florida.

Integris Group, MedMal Direct Insurance

Integris Group, a member-owned professional liability insurer based in Connecticut, has agreed to purchase MedMal Direct Insurance Co. and its agency, CorePRO, from Physicians Trust Inc.

MedMal Direct is headquartered in Jacksonville, Florida, and operates mostly in Florida, Georgia and Texas. Integris, with offices in Glastonbury, Connecticut, operates primarily in Connecticut and Massachusetts. It was founded in 2010.

Integris Group, a mutual insurance company, also includes Integris Financial Services, Integris Insurance Co. and Integris Risk Retention Group. The group has provided insurance for health care providers since 1984.

Arthur J. Gallagher, The Coverage Pro

Arthur J. Gallagher acquired Scottsdale, Arizona-based The Coverage Pro.

As part of the transaction Gallagher will also acquire The Coverage Pro’s affiliated company, General Southwest Insurance Agency, based in Phoenix.

Jeff LaScala, Caily LaScala and their team will remain in their location under the direction of Scott Firestone, head of Gallagher’s Southwest retail operations.