Business Moves

BB&T, Reese

BB&T Insurance Services plans to expand its metro Atlanta operation with the acquisition of Reese Insurance Associates Inc. of Riverdale, Ga., which sells commercial and personal property and casualty coverage and group benefits.

The transaction is expected to be completed in June. Terms were not disclosed. The company’s 25 employees will remain with BB&T Insurance Services and relocate to nearby Fayetteville in August.

Reese Insurance Associates Inc. was founded in 1974 by Thomas Reese. He remained with the company until 1990 when he turned it over to current owners, Roy Vreeland, Gary Laggis, Mark Martin and Marilyn Plunkett. The agency has since added Rhonda Crumbley and Michael Parker as owners.

Laggis will be named agency manager while Vreeland, Martin, Plunkett, Crumbley and Parker will continue in their roles as senior leaders and client relationship managers.

QBE, Praetorian, Winterhur

Australia’s QBE Insurance Group Limited became a major player in the U.S. market with the closing of its acquisitions of Praetorian Financial Group and Winterthur U.S.

The transactions were approved by all of the regulators involved by the end of May.

Now Praetorian, General Casualty and Unigard are part of QBE. The acquisitions place QBE Americas in the top 20 U.S. P/C insurers with more than $4.6 billion in annual gross written premiums and an estimated combined policyholders’ surplus of $2 billion. Its U.S. divisions now account for nearly 40 percent of the QBE Group’s annualized gross premium income.

Hilb Rogal & Hobbs, Charlton Manley

Virginia-based insurance broker Hilb Rogal & Hobbs Co. is acquiring substantially all of the assets of Charlton Manley Inc., a Kansas insurance agency with a reported $10 million in annual revenues in 2006. Terms were not disclosed. Primarily a mid-market agency, Charlton Manley’s areas of specialization include construction, medical professional liability, truckers’ liability, schools and school athletic programs. Charlton Manley’s staff of 70 will continue to serve clients from existing offices in Lawrence, Topeka, and Overland Park, expanding HRH’s current Kansas presence beyond Wichita and Pittsburg. Charlton Manley will join HRH’s Central Region.

Arthur J. Gallagher, Woods & Grooms

Arthur J. Gallagher & Co. has acquired Woods & Grooms Inc. of Columbus, Ind. Terms of the transaction were not disclosed.

Woods & Grooms is a retail insurance broker and group captive administrator.

Phillip L. Woods, Michael W. Willett and their associates will continue in their present roles from their current location under the direction of David J. McManus, president of Artex Risk Solutions Inc., Arthur J. Gallagher & Co.’s international captive subsidiary.

Navigator’s Group

The Navigators Group Inc.’s principal underwriting agency subsidiary, Navigators Management Co., has established the Specialty Program Division. Products underwritten for niche markets will include property, general liability and commercial automobile insurance. Rick Cullen has joined Navigators as president of the Specialty Program Division and will be based in the company’s Schaumburg, Ill., office. Cullen has been involved in specialty programs and products for 15 years.

Topics USA