Business Moves

Hylant Group, W Group

Cincinnati-based insurance brokerage, Hylant Group, and the W Group, a privately owned employee benefit services provider, have merged. The combined organizations will form one of the largest employee benefit firms in the Cincinnati area, the companies said.

The W Group was founded in 2002.

Founded in 1935, Hylant Group is a full-service insurance brokerage with 12 offices in Ohio, Michigan, Illinois, Indiana and Tennessee, and employs more than 625 employees.

As a member of the Worldwide Broker Network, Hylant offers risk management services, employee benefits consultation, loss control, 401(k) and financial services, healthcare management and insurance solutions for businesses and individuals.

White Mountains Re Ltd., Central National

White Mountains Re Ltd., a subsidiary of White Mountains Insurance Group Ltd. has agreed to acquire Central National Insurance Company of Omaha, Neb., from Drum Financial Corporation. In runoff since 1989, Central National has operated under an order of rehabilitation in the state of Nebraska since 1990. Among other conditions, the transaction is subject to the termination of the rehabilitation proceedings by the court and the approval of the Nebraska Department of Insurance.

Under the terms of the agreement, White Mountains Re will pay approximately $5 million. Central National’s statutory surplus as of Sept. 30, 2009, was $13.3 million. White Mountains Re expects the transaction to close during the first quarter of 2010.

Motorists Insurance Group

Columbus, Ohio-based Motorists Insurance Group has created a new division, MAX Service, to focus on agent-facing technology, agency interface priorities and developing call center best practices for all companies in the group.

Heading the new division as vice president will be Ralph Smithers Jr., currently assistant vice president, Personal Lines Division. The division will be composed of an Agency and Policyholder Systems Department and a Consumer Services Department.

Premium Financing Specialists, Universal Premium Acceptance Corp.

Premium Financing Specialists Inc. (PFS) has closed the acquisition of another Kansas City metro area-based premium finance company, Universal Premium Acceptance Corp. (UPAC). The combined company of almost 300 employees will support approximately 13,000 insurance agent and broker clients and generate well over $4 billion in financed premium.

The company will maintain the UPAC headquarters site in Lenexa, Kan., as a branch office location.

Lockton, IMI

Lockton, headquartered in Kansas City, has obtained a significant equity holding in South Korean insurance broker IMI. IMI has also been renamed Lockton Companies (Korea) Inc., or “Lockton Korea.” Lockton and IMI have jointly served risk management clients since 1995. IMI offers a broad range of commercial insurance, and in cooperation with Lockton has also developed domestic specialties in credit, professions, financial institutions and construction.

Fiesta Auto

Huntington Beach, Calif.-based Fiesta Auto Insurance is combining its two business models — insurance and tax preparation — under one roof, quadrupling its presence to more than 80 locations. Launched in 1999 to provide auto insurance to Hispanic and blue-collar communities in Southern California, Fiesta is pushing an aggressive franchise growth plan, which includes more than 1,500 new locations nationwide in the next five years.

Target markets include Texas, Illinois, New York, Pennsylvania, Arizona, Florida and Michigan.

Fiesta also offers insurance for watercrafts, motorcycles, homeowners, rentals, condos, apartments, tenant occupied property, commercial auto, commercial property, commercial general liability, Mexico insurance and special event coverage.

The company began franchising in 2006; it expects 250 new locations to be opened by the end of 2010.