Insurance Mergers & Moves: Friday, September 16, 2011

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September 16, 2011 Business Moves & Mergers of Special Note Virginia-based Hilb Group Acquires Venture Specialty Insurance Sep 16, 2011 -- The Hilb Group, a Glen Allen, Va.-based holding company that focuses on acquiring mid-market agencies, has purchased Venture Specialty ... Allied World, Transatlantic Call off Merger Deal Sep 16, 2011 -- Reinsurers Allied World Assurance Co. Holdings Ltd and Transatlantic Holdings Inc. called off their merger Friday in the face of ... Venture Capital Firm Buys California Wholesaler Yates, Rolls Out Growth Plan Sep 14, 2011 -- Scottish American Capital, a venture capital group with a cache of high net worth individuals, has purchased 80 percent of Tustin, ... Hub Buys Assets of Massachusetts-based William Palumbo Agency Sep 13, 2011 -- Hub International Limited has acquired the assets of William Palumbo Insurance Agency Inc., a Boston-area based retail brokerage firm. This ... ACE to Acquire Penn Millers Sep 8, 2011 -- Penn Millers Holding Corp., which provides property and casualty insurance through its wholly owned subsidiary, Penn Millers Insurance Co., ... New York’s Interboro Buys OneBeacon’s AutoOne Sep 1, 2011 -- OneBeacon Insurance Group said it is selling its high risk personal auto insurance business, AutoOne, to Interboro Holdings Inc. of New ... Business Moves & Mergers Arthur J. Gallagher & Co. Acquires The BeneTex Group Sep 15, 2011 -- Arthur J. Gallagher & Co., headquartered in Itasca, Ill., has acquired The BeneTex Group Inc., an employee benefit broker in ... Hub International to Acquire Canadian Broker Horizon Insurance Sep 15, 2011 -- Hub International Limited announced that it has entered into a definitive agreement to acquire the operations of Horizon Insurance, LP. , a ... Airclaims to Merge with Georgia’s McLarens Sep 14, 2011 -- Global insurance loss adjuster McLarens Young International is merging with aviation loss adjuster Airclaims of the United Kingdom. While ... Transatlantic, Allied World off CreditWatch as Merger Looks Less Likely: S&P Sep 14, 2011 -- Standard & Poor's Ratings Services has removed both Transatlantic Holdings and Allied World Assurance Co. Holdings AG from its ... The Main Street America Group Adds New Minnesota Affiliate Sep 13, 2011 -- The Main Street America Group announced that Minnesota-domiciled Spring Valley Mutual Insurance Co. has agreed to become an affiliate of ... Keystone Insurers Adds New Partner in Tennessee Sep 12, 2011 -- Holman & Holman Agency of Springfield, Tenn., has become Keystone Insurers Group's eighth franchise partner in Tennessee, bringing ... White Mountains Rebrands Reinsurance As Sirius Sep 12, 2011 -- Bermuda-based White Mountains Insurance Group said it is reorganizing and rebranding its global reinsurance business. All reinsurance ... Allied World Finds $80 Million in New Synergies with Transatlantic Merger Sep 9, 2011 -- Allied World Assurance Company Holdings, AG has announced "significant new merger-related synergies that can be achieved through the ... Hub Acquires Montana’s Mountain West Insurance Sep 8, 2011 -- Chicago-based Hub International Ltd. has acquired some of the assets of Mountain West Insurance & Financial Services LLC, a Missoula, ... NSM Acquires New York Manager of Dentist, Lawyer Programs Sep 7, 2011 -- NSM Insurance Group has acquired AFPD, a New York-based program administrator for lawyers and dentists errors and omissions programs. Terms ... National Financial Partners Acquires California’s DA Financial Sep 7, 2011 -- New York-based insurance broker National Financial Partners Corp. has acquired DA Financial Group of San Francisco, Calif., for an ... NSM Insurance Group Acquires AFPD Sep 7, 2011 -- Geof McKernan, CEO of Philadelphia-based NSM Insurance Group, announced the acquisition of AFPD, a national program administrator for ... IBM to Acquire Algorithmics Sep 6, 2011 -- IBM has agreed to acquire Algorithmics for $387 million. Algorithmics is a risk analytics firm with operations in Toronto, Canada. The ... Insurance Veteran Opens New Wholesale Operation in Dallas Sep 1, 2011 -- LevelFirst is a new diversified wholesale broker and managing general agency based in Dallas, Texas, that serves retail agents in the ... Marsh Acquires Brokerage Business of Africa’s Alexander Forbes Aug 31, 2011 -- Global insurance broker Marsh said it will acquire the brokerage business of  African insurance firm Alexander Forbes. This business ... Maine’s Northeast Bancorp Sells Its Insurance Group to 2 Local Agencies Aug 31, 2011 -- Lewiston, Maine-based Northeast Bank Insurance Group has been acquired by local agencies in two separate transactions effective Sept. 1. ... Momentous Insurance Brokerage Partners With Archer Weiss Aug 29, 2011 -- Van Nuys, Calif.-based Momentous Insurance Brokerage entered into a partnership to become an exclusive partner of business and ... Swiss Re Applies for Local Reinsurance Registration in Brazil Aug 29, 2011 -- Swiss Re announced that it has submitted an application to Brazil's Superintendence of Private Insurance (SUSEP) for a local reinsurance ... The Hanover Adds D.C. Area Branch Office Aug 24, 2011 -- The Hanover Insurance Group added a new District of Columbia Metro branch office in Reston, Va. Located in the Reston Executive Center at ... 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