Business Moves

The Doctors Co., FPIC Insurance

Medical liability insurer The Doctors Co. has completed its previously-announced acquisition of FPIC Insurance Group Inc., a major provider of health care liability insurance in Florida, Texas, Georgia and Arkansas.

FPIC Insurance Group includes First Professionals Insurance Co., Inc.; Advocate, MD; Intermed; and Anesthesiologists Professional Assurance Co.

With the completion of the merger and the addition of 18,000 insureds, The Doctors Co. said it solidifies its position as the nation’s largest insurer of physician and surgeon medical liability, with 71,000 member physicians.

FPIC will function as a wholly owned subsidiary of The Doctors Co., and its operations are being integrated with the company’s existing operations.

The company will maintain FPIC’s offices, including its Jacksonville, Florida headquarters, and Advocate, MD’s office in Austin, Texas.

Ranew Insurance, Ranzino Insurance

Two southeast Florida insurance agencies have merged. Ranew Insurance President Barry Ranew and Ranzino Insurance President Marion Ranzino announced they are merging their operations for both the individual and business markets in Brevard County. Each office will remain at its current locations. No details were disclosed.

Ranew will remain as president of the Ranew Insurance office and Marion Ranzino will become a vice president of Ranew Insurance.

TowneBank, Stanton Taylor Agency

Hampton Roads, Virginia-based TowneBank has acquired the Stanton Taylor Agency, a Raleigh, North Carolina agency that provides insurance and risk management services throughout Raleigh and eastern North Carolina.

The agency will be affiliated with Towne Insurance Agency, a wholly-owned subsidiary of TowneBank.

Terms were not disclosed.

Towne Insurance Agency was formed in 2001 when Kellam, Eaton and Huey and the Chesapeake Agency joined together to lead the entry of TowneBank into the insurance business. Since then, seven other agencies have affiliated with Towne including the Taylor Johnson Group, TFA Benefits, the Brooks Agency, Johnson and West, Benefit Design Group, the Weber-Pyle Agency, and W.T. Chapin, Inc.

TowneBank operates 26 banks n Virginia and North Carolina. As of June 30, 2011, the firm had total assets of $4.02 billion.

Confie Serguros, Trustway Insurance

Confie Seguros, a group of insurance agencies targeting Hispanic customers, has acquired the Miami, Florida-based Trustway Insurance Agencies.

Founded in 1998, Trustway has 28 locations in the state and additional offices in Georgia and Alabama.

Terms were not disclosed.

Jeff Greene will serve as the general manager of the Florida office. Prior to joining the company, Greene was a vice president of operations and director of franchising for FedUSA Insurance/Franchising Group. He also was the Florida state retail manager and director of franchise operations and for Affirmative Insurance Holdings.

The New York-based Confie Serguros is a portfolio company of Genstar Capital, a San Francisco-based private equity firm that invests in life sciences, healthcare, financial services, software, and industrial technology industries.

The company has $160 million in annual revenue and 275 retail offices in California, Arizona, Texas, Florida, Washington, Oregon, New York, New Jersey, and Nevada.

The insurer said it also has plans to enter the Illinois, Georgia, South Carolina, and North Carolina markets.

Topics Florida Texas Georgia North Carolina