Business Moves
Vertafore, Surefyre
Insurance software-as-a-service provider Vertafore has acquired Surefyre, a submission and underwriting platform for managing general agencies and wholesalers.
Denver-based insurtech Vertafore said Surefyre’s artificial intelligence-enabled solution will be added to Vertafore’s ecosystem of MGA solutions to accelerate speed to market, reduce costs and boost revenue.
San Francisco-based Surefyre’s cloud-based technology platform includes: A modern, fully configurable agent-facing portal that supports the complete policy lifecycle and enhances collaboration between agents and underwriters; an underwriter workbench that enables MGAs to rate and quote specialty property/casualty business seamlessly across systems, driving efficiency and prioritizing the most profitable opportunities; and AI-powered solutions, including automated agent portal configuration to accelerate speed to market and additional AI-driven features to streamline the submission and risk selection process.
World Insurance Associates, Skylands Insurance Group
National insurance broker World Insurance Associates reports it has acquired the business of Skylands Insurance Group of Flanders, New Jersey.
Skylands was founded in 2017 and provides commercial and personal lines property, casualty, life and health insurance under the leadership of Rhonda Linnett Graber, president,
World Insurance Associates is headquartered in Iselin, New Jersey. Founded in 2011, World has completed more than 200 acquisitions and has more than 250 offices across the United States. World is ranked #15 on the Top 100 P&C Agencies list by Insurance Journal, #19 on the Top 50 Personal Lines Agencies list and #19 on the Top 50 Commercial Lines Agencies list.
Risk Strategies, Felsen Insurance Services
North American specialty insurance brokerage Risk Strategies acquired Felsen Insurance Services Inc., a New Jersey-based agency offering commercial and personal property/casualty insurance.
Established in 1985, Felsen is headquartered in Denville, New Jersey, and led by its founder, Paul Felsen. The agency’s primary focus is providing insurance for real estate, condominium associations, high net worth individuals, and religious institutions.
According to Rob Rosenzweig, New York regional leader for Risk Strategies, the deal gives his firm more expertise in condominium and high net worth risks, while also expanding its presence in the market for religious institutions.
Felsen’s work for religious institutions has been focused on the needs of synagogues and temples and their associated operations, including day care centers, youth group activities, in-house catering, a cemetery, and rare artifacts like Torah scrolls.
In addition, Felsen has expertise in providing risk management or condominium associations and a high net worth practice that works with professional athletes and coaches.
Boston-based Risk Strategies is part of Accession Risk Management Group, a North American specialty brokerage firm. It boasts more than 30 specialty industry and product line practices in more than 200 offices across the country.
Arthur J. Gallagher, Peabody Insurance
Arthur J. Gallagher & Co. acquired Fenton, Michigan-based Peabody Insurance Agency Inc. (Peabody Insurance).
Peabody Insurance is a retail insurance agency serving commercial and personal lines clients primarily in southeast Michigan with specializations in construction, manufacturing and multifamily real estate.
Jim Peabody, Grace Peabody-Ljoljic, their family and team will remain in their current location under the direction of Sean Gallagher, head of Gallagher’s Great Lakes region retail property/casualty brokerage operations.
Arthur J. Gallagher is an insurance brokerage, risk management and consulting services firm headquartered in Rolling Meadows, Illinois.
Monarch E&S, PIE
Monarch E&S Insurance Services (Monarch E&S), a division of Specialty Program Group LLC, announced it has acquired the assets of Professional Insurance Executives Inc. (PIE), a contract binding/brokerage business located in Garland, Texas.
Monarch E&S said the acquisition strengthens its ability to offer comprehensive insurance solutions and reaffirms its leadership position in the contract binding market.
PIE was founded by Bruce Hart, who brings over 40 years of insurance industry expertise.
World Insurance Associates, The Firm of Louisiana P&C, The Firm of Louisiana P&C, Insure Plus, The Firm of Cenla, Creekside Risk Management
World Insurance Associates LLC (World) reported it has acquired the business of five entities based in Louisiana and Texas.
The Louisiana agencies are The Firm of Louisiana P&C LLC (Lake Charles), The Firm of Louisiana P&C Inc. (Lake Charles), Insure Plus LLC (Baton Rouge), and The Firm of Cenla (Alexandria).
World also acquired Creekside Risk Management LLC in Houston.
The entities are mainly property/ casualty specialists, providing insurance to individuals and businesses.
Giordano, Halleran & Ciesla provided legal counsel and Alvarez & Marsal advised World on the transaction. Greenberg Traurig LLP provided legal counsel, and MidCap Advisors LLC advised the entities on the transaction. No other advisors, diligence firms, or legal counsel were disclosed.
Hub International, ANCO Insurance Managers
Hub International Limited acquired the assets of ANCO Insurance Managers Inc. (ANCO Insurance).
Headquartered in Bryan, Texas, with six additional offices, ANCO Insurance is one of the largest independent insurance brokerages in the state. It has offered solutions for employee benefits, business and personal insurance coverage for more than 150 years. ANCO Insurance currently serves thousands of business and personal clients throughout Texas and beyond and employs more than 150 people.
ANCO Insurance will be referred to as ANCO Insurance, a Hub International company.
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.
Inszone Insurance Services, LIA Texas
Inszone Insurance Services announced the acquisition of LIA Texas,LLC, an agency based in Dallas, Texas.
Founded in 1984 by Bobby and Emma Lyons, LIA Texas LLC — known as Lyon’s Insurance Agency — has built a reputation over nearly four decades of dedicated service. With a focus on both commercial and personal insurance lines, the agency has specialized in serving artisan contractors and providing surety bonds to existing clients.
Sacramento, California-based Inszone is an insurance brokerage firm that provides property/casualty insurance and employee benefits services.
Arthur J. Gallagher, Statewide Commercial Insurance Brokers
Arthur J. Gallagher & Co. acquired Altadena, California-based American Matar International Inc., dba Statewide Commercial Insurance Brokers.
Lana Matar 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.
Statewide Commercial Insurance Brokers is a retail property/casualty insurance agency specializing in construction contractors for commercial clients in California and several other U.S. states.
Arthur J. Gallagher is an insurance brokerage, risk management and consulting services firm headquartered in Rolling Meadows, Illinois.
Hub International, Western Growers Insurance Services
Hub International Ltd. acquired the retail insurance brokerage business of Western Growers Insurance Services in a move aimed at expanding Hub’s services in the agribusiness industry.
WGIS has 10 offices located in California and Arizona. The firm provides risk mitigation and management solutions, including insurance products and employee benefits. Their focus on the agribusiness and farm industry supports Hub’s Specialty practices by complementing and strengthening its existing capabilities.
Joining Hub CNC are the WGIS team including Jeff Gullickson, president of WGIS; Jodi Martin, director, employee benefits leader; Natalie Berend, senior director, P/C leader; and Ken Cooper, director, operations and risk strategy leader.
Gullickson will become head of the agribusiness practice in the region and will continue to serve in his position as president of WGIS following the transaction.
Western Growers represents local and regional family farmers growing fresh produce in California, Arizona, Colorado and New Mexico.
Inszone Insurance Services, Nugent Insurance Brokers, Springbrook Insurance Agency
Inszone Insurance Services has acquired Nugent Insurance Brokers LLC in Chico, California.
Valerie and Tom Nugent Jr., and Tom Jr.’s daughter, Marissa, will remain with Inszone. Nugent Insurance will also expand into personal lines by gaining access to Inszone Insurance’s markets and services.
Inszone also acquired Springbrook Insurance Agency in San Diego, California.
Charlene and John Drapp will be staying on after the transition to Inszone Insurance.
Springbrook Insurance Agency offers insurance services with a primary focus on commercial lines and non-profit organizations.
Inszone is based in Sacramento, California.
Hub International, R.K. Gore & Associates
Hub International Ltd. acquired the assets of R.K. Gore & Associates in Lehi, Utah.
Robert Gore, owner, and the R.K. Gore & Associates team will join Hub Southern California and Utah. R.K. Gore & Associates will be referred to as R.K. Gore & Associates, a Hub International company.
R.K. Gore & Associates is an independent insurance agency specializing in insurance services for the residential construction industry.