Business Moves

Marsh & McLennan Agency, Trion
Marsh’s retail agency business has acquired Trion Group Inc., the largest privately held employee benefits specialist in the United States with $74 million in annual revenue. Terms of the deal were not disclosed.

Conshohocken, Pennsylvania-based Trion offers consulting, brokerage, group disability and life, absence management, voluntary benefits, and benefit administration services to clients across the country.

Trion is the sixth acquisition Marsh & McLennan Agency has made since its launch last year. With the Trion acquisition, Marsh’s agency business now has annual revenue of approximately $260 million. TrionÕs four principals, Ed Garno Jr., Ed Garno III, Dave Oberkircher, and Chris Veno will continue to lead Trion as part of Marsh & McLennan Agency, and all of Trion’s employees are expected to remain with the company.

USI, Mastors & Servant
New York-based USI Holdings has closed on its acquisition of Mastors & Servant Risk Services, a Rhode Island-based brokerage that specializes in commercial property/casualty, bonds and employee benefits insurance for middle-market businesses.

Terms of the transaction were not disclosed. Mastors is expected to contribute approximately $5.6 million in revenue to USI on an annual basis.

Michael J. Sicard, USI’s chairman, president and CEO, said the deal makes USI one of the largest middle-market insurance brokerage firms in Rhode Island.

ABRY, York
Boston private equity firm ABRY Partners has acquired a majority interest in New Jersey-based York Risk Services Group.
ABRY purchased the majority interest in York from another private equity firm, Odyssey Investment Partners, for an undisclosed sum, York said.

York Risk Services specializes in outsourced services to the insurance industry, including claims management, loss adjusting and related services for public entities.

Alliant, T&H Group
Specialty insurance broker Alliant Insurance Services has acquired New York city-based T&H Group for an undisclosed sum.
T&H Group, which operated as Tanenbaum-Harber Co. until changing its name last year, primarily targets upper middle market clients throughout the eastern region of the country.

The brokerage employs 242 people nine offices in New York, New Jersey, Connecticut, Massachusetts, Pennsylvania, Maryland, Illinois, Florida and California. It specializes in construction and real estate, financial services and other industries.

T&H Group CEO Walter Harris will serve as vice chairman of Alliant and become a member of Alliant’s senior management team. Harris has been with T&H for more than 30 years, and the business has been led by his family for over 40 years. Other key executive officers of T&H are Richard Ferrucci and Richard Fleder.

ACE, Rain and Hail
ACE Limited announced from its headquarters in Zurich that it has completed its acquisition of Rain and Hail Insurance Service Inc. for approximately $1.1 billion in cash.

The Hartford, Sedgwick Claims
The Hartford said it has inked a $278 million deal to sell its third-party claims administration business, Specialty Risk Services (SRS), to Sedgwick Claims Management Services Inc.

The deal is expected to close in the first quarter. SRS handle claims services for self-insured, insured and alternative market clients.

The Hartford said Sedgwick plans to extend comparable employment offers to all direct Specialty Risk Services employees.

Sedgwick, based in Tennessee, provides claims and productivity management services. It has about 7,000 employees and 130 offices in North America.The company specialties includ workers’ compensation, disability other claims services.

Topics New York Alliant