Business Moves
King Insurance Partners, Mehta Insurance Agency
Florida-based King Insurance Partners acquired Mehta Insurance Agency, located in Absecon, New Jersey.
Mehta Insurance Agency’s offerings include business, flood and life insurance.
Sunil Mehta said integrating with King will allow the agency to continue serving the insurance needs of its New Jersey clients with “even greater resources and dedication.”
Terms of the deal were not disclosed.
In addition to 15 offices in Florida, King Insurance has locations in Alabama, Connecticut, Florida, Georgia, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia.
Union Bay Acquisition, Skar Insurance Group
Union Bay Acquisition LLC, an aggregator of insurance agencies based in Lansdale, Pennsylvania, has acquired Skar Insurance Group of Rockford, Michigan.
Terms were not disclosed.
Skar Insurance specializes in trucking insurance with presence in Illinois, Indiana, Michigan, Mississippi, Ohio and Georgia.
Union Bay Acquisition LLC owns property/casualty insurance agent Union Bay Risk Advisors LLC and acquires small insurance agencies in the Northeast and Midwest.
Marsh McLennan Agency, Querbes & Nelson, Louisiana Companies
Marsh McLennan Agency (MMA), a subsidiary of Marsh, signed agreements to acquire two Louisiana-based middle-market agencies, Querbes & Nelson (Q&N) and Louisiana Companies, doubling the firm’s presence in the state.
Based in Shreveport, Q&N was founded in 1914 and offers business insurance, employee benefits, and alternative risk financing consulting to a variety of businesses with specific expertise in energy services, commercial contractors, and transportation.
Based in Baton Rouge, Louisiana Companies was founded in 1890 and provides business and personal lines insurance to businesses and individuals with specific expertise serving the construction, manufacturing, distributor, healthcare and hospitality industries.
Upon closing, Louisiana Companies and Q&N’s employees, including George Nelson, managing director and co-owner of Louisiana Companies and Q&N, Mike Belanger, president, chief operating officer (COO) and co-owner of Q&N, and Ryan Allen, chief sales officer of Louisiana Companies, will join MMA and continue to operate out of their four offices across the state. Kevin Briggs, currently president and COO of Louisiana Companies, will become CEO of both agencies and Nelson will become a senior advisor.
Resilience, BreachQuest
Resilience, a risk management firm, has strategically expanded its capabilities through the acquisition of BreachQuest, an incident response technology solution. This move is set against the backdrop of an evolving digital workspace and cloud-based productivity applications, highlighting the critical challenge of securing these environments amidst escalating risks.
The integration aims to bolster incident response mechanisms against Business Email Compromise (BEC) attacks, a rapidly growing concern within the digital domain.
Dallas, Texas-based BreachQuest’s platform integrates into cloud office systems, providing a look back for incident forensics and helping speed incident response efforts, reduce containment time, and lower incident costs. The addition of BreachQuest’s capabilities will also support Resilience’s claims management team as they proactively address cyber incidents with greater efficacy.
Signers National, Affiliated Insurance Agents
Signers National, a group of insurance companies dedicated to servicing key client segments across the United States, has acquired Affiliated Insurance Agents, based in Houston.
Affiliated Insurance Agents is an independent agency focused on comprehensive, competitive insurance coverage for religious and nonprofit organizations. Affiliated Insurance Agents is owned and operated by Tim Tanner, who will serve as a managing client executive after the deal. The Affiliated Insurance Agents staff will join the Lamb Insurance Services team.
Signers said it will be continuing its aggressive acquisition approach throughout 2024, in particular targeting agencies servicing niche markets such as the human service and religious spaces.
Higginbotham; Fountain, Parker, Harbarger & Associates
Higginbotham has acquired Alabama-based Fountain, Parker, Harbarger & Associates, a 103-year-old agency.
FPH&A was founded in 1921 and has been with some carriers for almost as long. The agency, based in Huntsville in north Alabama, provides commercial and personal insurance throughout the Southeast.
Principal and administrative manager, Mark Harbarger, said that as Huntsville continues to grow, the agency leaders felt it needed a partner with national scope.
Higginbotham is headquartered in Fort Worth, Texas.
Signers National, Ballantyne Insurance Group
Signers National, the New York-based parent of several insurance companies, has acquired Ballantyne Insurance Group in Charlotte, North Carolina.
Ballantyne specializes in coverage for human service organizations. It is owned by William Bradley, who will stay on as managing client executive.
Inszone Insurance Services, Truman Van Dyke Co., Frank Vitale Insurance Agency
Inszone Insurance Services has acquired the entertainment insurance agency Truman Van Dyke Co., based in Los Angeles.
Truman Van Dyke was founded by Truman Van Dyke Sr. and Truman Van Dyke Jr. when Van Dyke Sr. transitioned from a silent film actor to an insurance agent, catering to the needs of entertainers, producers, directors and various film tradespeople.
Inszone also acquired Frank Vitale Insurance Agency in Soquel, California.
Frank Vitale Insurance Agency’s primary focus has been on insuring the construction industry, offering specialized coverage such as workers’ compensation, general liability insurance, general contractors insurance, and equipment insurance.
Sacramento, California-based Inszone Insurance Services is a brokerage firm that provides property/casualty insurance and employee benefits solutions. The firm has 56 locations across Arizona, California, Colorado, Idaho, Illinois, Kansas, Michigan, Missouri, Nevada, New Mexico, Oregon, Texas, Utah and Washington.
ALKEME, Ferrante Insurance Services
ALKEME has acquired Ferrante Insurance Services in Concord, California.
Ferrante Insurance Services specializes in providing commercial risk services to contractors throughout California including general liability, workers’ compensation, business auto and bonds.
ALKEME is an insurance agency providing businesses and individuals with commercial and personal insurance, employee and executive benefits, retirement and wealth management services.
FTP of California, Hinterland Insurance
FTP of California LLC has rebranded to Hinterland Insurance and moved its headquarters to the Denver Tech Center in Colorado.
The rebrand is part of a larger strategy to reflect the firm’s growing business in the United States. The company also continues to develop its operations in San Diego and Chicago.
The plan is to continue strengthening their product offerings under the Hinterland name with a focus on small market enterprise and middle market business, in addition to adding programs of need for some of the displacement in California and Midwestern markets.
The company’s physical expansion now covers the west, midwest and mountain time zones.
Founded in 2019, Hinterland Insurance is an independently owned and operated insurance managing general agency and program administrator specializing in underwriting solutions for tough-to-place commercial insurance risks.
The company offers insurance programs nationwide, including commercial property/casualty, and excess and surplus lines.