Business Moves

Liberty Mutual officially retired the Safeco Insurance brand in the independent agent channel, effective April 25.

All personal lines products are now solely marketed and sold as Liberty Mutual.

Personal lines Safeco customers can keep their agent relationship, and policies will not change, said Liberty Mutual, which purchased Safeco in 2008.

Boston-based Liberty Mutual said its direct and independent agent channel product offerings will remain differentiated.

Global management consulting firm Oliver Wyman has agreed to acquire CR3 Partners, a consulting firm specializing in restructuring, management consulting, and bankruptcy advisory services.

The terms of the transaction, which is expected to close later this quarter, were not disclosed.

CR3 Partners is a Dallas-based national turnaround and performance improvement firm with additional offices in Atlanta, Boston, Charlotte, Chicago, Houston, Los Angeles, New York, and Richmond. The firm has led transformations across industrials, retail, healthcare, energy, and financial services.

As part of the transaction, 62 professionals from CR3 Partners will join Oliver Wyman in multiple cities.

William Snyder is senior managing at CR3 Partners.

World Insurance Associates LLC acquired the business of Baldon Insurance Group of Patchogue, New York. Terms of the January transaction were not disclosed.

Baldon, established in 2000, is a Long Island independent agency with a focus on New York’s commercial insurance market for hospitality operators, real estate investors, and construction businesses.

World Insurance, based in Iselin, New Jersey, serves clients from more than 300 offices across the U.S. and U.K.

Trucordia acquired Paradiso Financial and Insurance Services in Stafford Springs, Connecticut.

Paradiso offers auto, home, life, business, and specialty lines insurance. Joining Trucordia will give Paradiso’s team and clients access to more carrier relationships, shared resources, and national support.

The Utah-based Trucordia group of agencies has 5,000 employees across the country.

Georgia-based Marketplace 4 Insurance (M4I) acquired Swann Insurance Agency, an independent insurance agency based in Columbia, Maryland. Terms were not disclosed.

The acquisition of Swann expands M4I’s footprint in the Mid-Atlantic region. All Swann employees will join forces with Reilly Insurance Agency, M4I’s existing Crofton, Maryland location. Swann Insurance Agency, led by principal Joseph Swann, CLCS, offers auto, home, life, and business policies.

Founded in 2019 by Jerad Kirk and Adam Herring, M4I has nine offices across four states.

Newport Specialty Partners, a new specialty insurance platform backed by Lovell Minnick Partners, announced that it has acquired Complex Coverage Inc. (CCI), a managing general agency focused on homeowners and personal lines coverage in New York.

The transaction is Newport’s first platform acquisition, which the company said establishes a foundation for its strategy of building a diversified MGA and specialty insurance distribution platform.

Founded in 1997 by Mike Mahoney, CCI is headquartered in Huntington, New York. The company administers insurance programs in homeowners, dwelling fire, builder’s risk, boat, umbrella, flood, and related personal lines coverages through partnerships with insurance carriers. CCI’s leadership team, including Michael Eigen, president, will continue to manage the business and remain involved going forward.

Private equity firm Lovell Minnick partnered with Newport to support the launch of the new platform and the acquisition of CCI. Lovell Minnick targets middle market companies with a particular focus on companies in the financial services, business services, and financial technology sectors.

Marsh McLennan Agency (MMA) announced that it has reached an agreement to acquire TriBridge Partners, an independent benefits broker and retirement and wealth advisor headquartered in Columbia, Maryland. Terms of the acquisition were not disclosed.

TriBridge Partners was founded in 2013 upon the strategic merger between three regional brokerage and advisory firms serving the Mid-Atlantic.

According to the agreement, all employees, including co-founders and co-owners Heath Hykes, chief executive officer; Dane Rianhard, founding principal; John Morris, principal; and Paul Younkins, chief growth officer, will join MMA and continue to operate out of the firm’s existing Columbia office location.

Inszone Insurance Services acquired James R. Vozar Insurance Agency. The Vozar agency has offices in Athens, Quincy, and Union City, Michigan, strengthening Inszone’s presence in the Midwest and adding specialized knowledge in the agricultural sector to its portfolio.

Founded in 1969 by James R. Vozar, the agency specializes heavily in agricultural and farm insurance, alongside comprehensive personal and commercial lines. Under the leadership of Mike Vozar and Brian Earles, the agency expanded its footprint across three Michigan locations. Both Mike Vozar and Earles will remain with the agency during the transition.

Lockton is moving its global headquarters to a new campus located in Leawood, Kansas. The insurance brokerage will be based in a 12-story building that will serve as the centerpiece of a 34-acre project. Lockton first announced the headquarters project in December 2025. The project is scheduled to break ground this summer, and Lockton is expected to relocate in early 2030.

Lockton’s headquarters will be part of a mixed-use development that includes restaurants, a luxury hotel, retail space, childcare facilities, outdoor amenities, multifamily housing, and additional office accommodations. The Lockton building will feature limestone terraces to reflect the company’s Midwest heritage.

Lockton is celebrating its 60th anniversary in the Kansas City region.

Ohio Mutual Insurance Group will merge with Gooding, Idaho-based Gem State Insurance as a subsidiary under Ohio Mutual Insurance Group’s mutual holding company structure.

The merger is still subject to approval by Gem State policyholders and insurance regulators in both Idaho and Ohio, and is expected to be completed in the third quarter of 2026. Plans are to continue to market products under the Gem State brand and to maintain its Idaho operations.

Gem State will join Ohio Mutual’s intercompany pool: Ohio-domiciled Ohio Mutual Insurance Company, its wholly owned subsidiary United Ohio Insurance Company, Casco Indemnity Company, and United Mutual Insurance Company–all entities of holding company Ohio Mutual Insurance Group, Inc.

Ohio Mutual Insurance Group, founded in 1901 and based in Bucyrus, Ohio, partners with more than 500 independent agencies to distribute property and casualty insurance products throughout Connecticut, Indiana, Maine, New Hampshire, Ohio, Rhode Island, Vermont, and Wisconsin.

Keyes Coverage, part of Keystone Agency Partners, acquired Seibert Insurance Agency in Tampa, expanding its western Florida presence.

Seibert Insurance was founded in 1971 by Keith Seibert. He retired in 2012, and his daughter, Karyn Roeling, was named president of the agency. She is the immediate past chairperson of the Florida Association of Insurance Agents. The agency offers personal and commercial coverage.

Keyes Coverage, headquartered in Fort Lauderdale, was founded in 1976 and became a partner with Pennsylvania-based Keystone in 2022, the company said. Keystone has grown steadily in recent years and now ranks as one of the largest retail brokers in the country.

Alabama-based Protective Life Insurance Co. is moving to expand into property/casualty lines by acquiring Obsidian Insurance Holdings Inc., a New York-based property, casualty and specialty insurance platform.

The purchase agreement was signed with Obsidian’s private equity founder, Genstar Capital, and involves acquiring Obsidian Insurance Holdings, Inc. and its affiliates Obsidian Specialty Insurance Co. (Delaware), Obsidian Insurance Co. (Ohio), and Obsidian Pacific Insurance Co. (Delaware).

Obsidian’s admitted and non-admitted insurance carrier subsidiaries issue policies underwritten by managing general agents, managing general underwriters and program managers.

Through its platform, Obsidian sources, underwrites and manages programs and reinsures the majority of the business to select reinsurers.

Obsidian was established in 2020 by Genstar. Since its founding, Obsidian has provided nationwide insurance capacity through its carrier subsidiaries.

Protective Life Corp. is a U.S. subsidiary of Daiichi Life Group, Inc. In addition to its headquarters in Birmingham, Alabama, it also has offices in the greater Cincinnati area and St. Louis.

This transaction will mark Protective’s 62nd acquisition and its ninth since becoming part of Tokyo-based Daiichi Life in 2015.

Inszone Insurance Services announced the acquisition of Mena Insurance Agency Inc., headquartered in Arkansas.

Founded in 1911 by H.G. McLafferty, Mena Insurance is now led by P.T. Plunkett.