Business Moves

RCM&D, TRION

Baltimore-based insurance broker RCM&D acquired the commercial property and casualty insurance division of Philadelphia-based TRION Inc. and has opened a Philadelphia regional office to serve clients throughout southeastern Pennsylvania, New Jersey and Delaware.

In connection with the deal, Dave Haney will serve as managing director of the Philadelphia region and Rita DeFelice has been named manager of the client services operations for the new office.

William Palumbo, The Bulfinch Group

Massachusetts insurance agency William Palumbo Insurance Agency said it has partnered with The Bulfinch Group, a financial services firm in the Bay State.

William Palumbo clients will now have access, thorugh Bulfinch, to Guardian Life’s wealth aggregation tools.

USI, Amerisc

Insurance broker USI Insurance Services has acquired The Amerisc Corp., Atlynx Surety Brokers and its principal affiliates.

Amerisc, based in Garden City, N.Y. with an office in Nanuet, specializes in commercial property/casualty, surety and employee benefits insurance for middle-market businesses. The acquired businesses are expected to contribute approximately $11 million in annual revenue to USI, which is based in Briarcliff Manor, N.Y.

Terms of the transaction were not disclosed.

Amerisc’s office in Garden City will be combined with USI’s Woodbury office, into what USI Chairman and CEO Michael J. Sicard said would be the one of the largest middle-market insurance brokerage firms in Long Island.

Philip G. Samuels, co-founder and president of Amerisc, will lead the combined office along with Frank Abbatiello, co-founder and vice president of Amerisc. Former Amerisc partners Louis J. Spina, Douglas W. Cypes, Stephen Grieco, Anthony Martillotti will also join USI.

SIAA

The Strategic Insurance Agency Alliance (SIAA) added six East region insurance agencies to its membership in February, the New Hampshire-based group said.

Those members are East Penn Insurance of Allentown, Pa., Meritt Insurance, of Bethlehem, Pa., The Foley Insurance Group, of Glastonbury, Conn., SEFCU Insurance Agency of Latham, N.Y., Woodstock Insurance Agency of Woodstock, Va. And Judkins Insurance Agency of Ridgeway, Va.

Nationwide, SIAA added 23 members in February, bringing its total to more than 3,600. Sixteen of those new additions were former captive agencies.

Core Programs

A new program administrator, Core Programs, has launched in Totowa, New Jersey. Core will focus on on commercial P&C lines.

Richard Trezza, a 23-year industry veteran, will manage the firm, which expects to announce its first program within the next one to two months.

Kane, HIM

Kane, which provides of specialist risk and insurance management services, will acquire the insurance management operations of HSBC for $27.5 million.

The deal includes HSBC Insurance Holdings Ltd., HSBC Insurance SPC, the insurance management business and assets of HSBC Bank (Cayman) Ltd, and HSBC Insurance Agency Inc.

The acquisition, backed by private equity firm CBPE Capital, is expected to close next month.

HSBC Insurance Management (HIM), provides management, administration and structuring support services for captives, cell companies, insurance linked securities, insurance and reinsurance companies.