Business Moves

BrickStreet Mutual

Workers’ compensation insurer BrickStreet Mutual Insurance Co. wants to expand into Kentucky, Virginia, Alabama, Pennsylvania and Illinois.

President and Chief Executive Officer Greg Burton says the West Virginia-based company plans to apply in those states over the next couple of months to offer workers’ compensation coverage. He says the coverage initially would be for West Virginia-based energy companies that operate in those states.

Insurance Specialty Group, Wastepac

Insurance Specialty Group LLC has acquired Wastepac, a provider of insurance coverage to the waste hauling and sanitation industry.

Wastepac team will now offer commercial auto liability, general liability, property, umbrella liability, surety bonds and pollution and contamination coverage to the waste hauling and sanitation industries. Wastepac will continue to operate as a risk purchasing group under its own brand as part of Insurance Specialty Group.

GL Insurance Partners

Two insurance industry veterans have partnered to launch a new insurance and consulting firm in Bow, New Hampshire. The new firm, GL Insurance Partners, was launched by James Guerin and George Lagos. GL focuses on specialty commercial program business issues, and offers services such as due diligence, operational audits and reviews, compliance management, program development, dispute resolution and litigation support for and on behalf of reinsurers, primary carriers, Lloyds underwriters and program administrators.

AmWINS

Charlotte, North Carolina-based insurance wholesale brokerage AmWINS Group, Inc. has acquired three medical stop loss wholesalers in three separate regions of the country.

The firms acquired are American Stop Loss Insurance of Worcester, Mass.; Brokerage Services, Health Benefit Solutions of Benicia, Calif.; and Insurance and National Insurance Wholesalers of Houston, Texas.

The acquisition of these three entities creates the nation’s largest wholesale broker of medical stop loss insurance, according to AmWINS.

Guy Carpenter, Collins

Guy Carpenter Co., a leading risk and reinsurance specialist, has agreed to acquire John B. Collins Associates, Inc., a privately held company and the seventh largest reinsurance intermediary in the world.

Guy Carpenter said the acquisition will further strengthen its position in the North American reinsurance marketplace and that the strength of Collins’ business in crop, Florida property and regional specialty lines further enhances Guy Carpenter’s existing capabilities.

The firms expect that the transaction will close early in the second quarter of 2009, following receipt of regulatory approvals and satisfaction of other closing conditions.

Topics Virginia