Abram Interstate Insurance, Align General
Rocklin, Calif.-based Abram Interstate Insurance Services Inc. purchased an equine and farmowners book of business from Align General Insurance Agency Inc. of San Diego. All servicing of new and renewal business will be handled by Abram Interstate, and the continuity will be facilitated by the carriers Travelers and American Reliable Insurance Companies.
Abram Interstate has been providing equine and farmowners program business since 1996.
Mercury General
Citing fourth quarter losses in Florida of $19 million, Mercury General said it is withdrawing from the state’s homeowners insurance market.
The company began the mandatory 180-day advance notice of its intent not to renew its 8,000 Florida policyholders in March. It expects the withdrawal to be complete in the second half of 2012.
The $19 million loss includes $6 million reserves set aside for future claims. The company said many of the losses are related to sinkholes, which have been cited as a major driver of insurance costs in the state.
Align Financial Group, Executive Liability Managers, Attorneys & Professionals Insurance
Align Financial Group Inc. acquired Executive Liability Managers Insurance Brokers Inc. and Attorneys & Professionals Insurance Services Inc.
Kieran Sweeney, Align’s CEO, said the acquisition of ELM represents an entrance into the professional liability marketplace.
ELM and APIS are specialist wholesale insurance brokerages that focus exclusively on providing liability insurance solutions to professionals such as accountants, architects, engineers, real estate agents, insurance brokers as well as other miscellaneous professional consultants. ELM, which owns APIS, was started by Frederick J. Fisher, who continues to lead the business today.
ELM, headquartered in El Segundo, Calif., will continue to operate from its three California office locations as the professional liability division of Align.
Lloyd’s, Benelux
Lloyd’s described the opening of its new office in the Dutch port city of Rotterdam as “embracing its marine roots” that go back more than 300 years. Lloyd’s already has a “strong presence in the Netherlands, the maritime powerhouse of Europe, a market where marine is still the main class of business for Lloyd’s,” the company said, noting “Benelux is a mature, thriving insurance market.” The new office will manage the legal representation and business development of the region in one location.
Topics Lloyd's
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