Business Moves

AmWINS, London American General

AmWINS Group Inc., a national wholesale insurance broker based in Charlotte, N.C., reports it has acquired London American General Agency Inc.

Based in San Diego, Calif., London American is a managing general agent and program underwriter for the commercial transportation business with a special focus on limousines, truckers and transportation.

London American provides AmWINS with a West coast transportation underwriting presence and complements AmWINS existing transportation business, formerly operated under the name Seaboard Underwriters, Inc. AmWINS has combined its Seaboard transportation business with London American under the name AmWINS Transportation Underwriters Inc.

The Doctors Co., SCPIE

Physician-owned liability insurer The Doctors Co. is expanding its market by acquiring SCPIE Holdings Inc., a provider of healthcare liability insurance in California and Delaware. The Doctors Co. will pay approximately $281 million.

Following the merger, The Doctors Co. says it will insure nearly 19,000 physicians in California and become the largest insurer of physician and surgeon professional liability insurance in the United States.

SCPIE has more than 10,000 policyholders in California. It is also currently writing professional liability policies in Delaware.

Ironshore Construction

Hamilton, Bermuda-based Ironshore Inc. has entered into the specialty construction sector with the launch of its IronBuilt division. IronBuilt, based near Boston, offers construction risks protection with an emphasis on residential wrap-up liability insurance and liability insurance for sub-contractors involved in residential construction.

IronBuilt will be run by Joe George as president. He has been in the specialty insurance sector for 30 years. Most recently, George was a program administrator for Glencoe/Lantana Insurance Companies.

AIG Trucking

AIG Cos. launched a new unit, AIG Transportation Solutions, to be headed by Lentz Merisier, director of Transportation Solutions, that will provide insurance for U.S. trucking operations of all sizes — from major fleets to owner/operators.

AIG Transportation Solutions will initially offer workers’ compensation, general liability, automobile liability, excess automobile liability, environmental/ pollution, excess casualty, and occupational accident insurance to customers. The unit will also offer property, infrastructure and mobile property coverage to protect an cargo and mitigate the financial risk of physical damage to their fleets.

AIG Transportation Solutions will launch with teams in Los Angeles, Dallas, Chicago, Philadelphia and Atlanta.

Munich Re, Midland Co.

It didn’t take Munich Re very long to make good on its intentions to expand in the U.S. property/casualty market. The world’s second largest reinsurer has agreed to acquire U.S. primary insurance company Midland, via its subsidiary Munich-American Holding Corp., for $65 per share for a total amount of $1.3 billion.

The acquisition strengthens Munich Re’s position in a niche segment of the U.S. primary insurance market. Midland will become part of Munich Re’s American Modern Insurance Group.

Midland’s premium income was $832 million in 2006. Midland operates in 50 states.

Chubb, Chinese Insurer

New Jersey-based Chubb Group announced that its Federal Insurance Co. has received approval from the China Insurance Regulatory Commission to convert its Shanghai branch to a wholly owned insurance subsidiary. It is to be named Chubb Insurance (China) Company Limited, and will be headquartered in Shanghai.

Chubb has been operating in China since opening its Shanghai branch in 2000. Chubb said that Federal will maintain its office in Beijing. The new subsidiary will apply for additional branch licenses in other cities.

ProMutual

Rhode Island physicians will see no change in medical liability insurance rates from ProSelect Insurance Co. The company also did not file for rate changes in Massachusetts, New Jersey, Vermont or New Hampshire this year. The decision will affect 660 of Rhode Island’s individual healthcare providers.

Topics California USA China London AIG Chubb