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.

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 launch with underwriting teams in Los Angeles, Dallas, Chicago, Philadelphia and Atlanta.

Chubb, China

The New Jersey-based Chubb Group announced that its Federal Insurance Co. has received approval from the China Insurance Regulatory Commission (CIRC) to convert its Shanghai branch to a wholly owned insurance subsidiary. The new subsidiary 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 continue to maintain its office in Beijing. The new subsidiary is expected to apply for branch licenses in other cities.

North Point Holdings, Home Pointe

Mich.-based North Pointe Holdings Corp. has agreed to sell its Home Pointe Insurance Co. subsidiary, which comprises North Pointe’s Florida homeowners and dwelling fire operations, to American Capital Assurance Corp., a subsidiary of Safe Harbour Holdings LLC, a Florida domiciled insurance holding company.

The purchase price is approximately $15.3 million.

In December 2004, North Pointe, through one of its subsidiaries, began offering new homeowners and dwelling fire insurance to former policyholders of an unaffiliated insurer that was in liquidation in Florida. In June 2006, North Pointe decided to reduce its Florida exposure caused by restrictions in the reinsurance market and regulatory constraints.

James Petcoff, North Pointe’s chairman and CEO, said the company has sharpened its focus on specialty niche commercial coverages and determined the Florida homeowners operations would be “a better strategic fit under a new owner.”

Safe Harbour was recently capitalized by a consortium of Arx Holding Corp., Flexpoint Partners LLC, and New Capital Partners in order to pursue the Florida market. Arx Holding Corp. has focused on the homeowners markets in Florida and Texas, while Flexpoint Partners and New Capital Partners are private equity funds that specialize in financial services investments.