Business Moves – Southeast

Nationwide, Harleysville

Nationwide Mutual Insurance Co. said that the company completed its previously announced $834 million merger deal with Harleysville Mutual Insurance Co.

The deal was first announced in September 2011. Nationwide Mutual policyholders voted to approve the merger on April 9, 2012. Harleysville Mutual policyholders and Harleysville Group stockholders approved it on April 24, 2012. The transaction has also been reviewed and approved by Pennsylvania and Ohio regulators.

Now that the merger has all the requisite approvals, Harleysville Mutual policyholders will become policyholders and members of Nationwide Mutual.

Nationwide Mutual acquired all of the publicly held shares of common stock of Harleysville Group, a publicly traded subsidiary of Harleysville Mutual, for $60.00 per share in cash. Accordingly, Harleysville will file with the SEC to voluntarily delist Harleysville Group’s publicly traded stock from the NASDAQ. Harleysville is now a part of Nationwide’s P/C independent agency business unit under the Harleysville brand.

Harleysville’s current headquarters in Harleysville, Penn., will serve as part of the combined company’s national, independent agency-based platform.

Michael Browne, the former president and CEO of Harleysville, is now the president and chief operating officer of the Harleysville unit of Nationwide.

Black/White, Stoermer

Insurance wholesaler and managing general agency, Black/White Associates of Louisiville, Ky., has partnered with Stoermer Insurance Services located in Dayton Ohio. The transaction is effective May 1, 2012.

In business since 1968 and owned by Al and Ed Stoermer, Stoermer Insurance Services represents the same markets as Black/White Associates, as well as additional markets.

Black/White Associates’ Troy Metts and Heidi Elston will remain through an indefinite extended transition period. Ed Stoermer and his team are taking over all accounts in the states of Kentucky, Indiana and Ohio.

Confie Seguros

Confie Seguros, a personal lines insurance brokerage network focused on Hispanic consumers, said it has completed the acquisition of six insurance agencies, further expanding its national insurance distribution.

The companies acquired are: Survival Insurance, in Burbank, Calif; Speedlane Insurance, in Upland, Calif.; The Chapman Agency, in Elizabeth, N.J.; Coppola Insurance, in West Seneca, N.Y.; Palmetto Insurance, in Miami, Fla.; and, Daley Insurance, in Margate, Fla.

Confie Seguros, based in New York, has 300 locations across the country. It has acquired 20 agencies over the past 12 months.

Neace Lukens, Morehead

Louisville, Kentucky-based Neace Lukens, an AssuredPartners, Inc. company, has completed the acquisition of Morehead Insurance, a Scottsville, Kentucky-based independent insurance agency. Located near Bowling Green, Morehead Insurance sells personal and commercial lines insurance including farmowners throughout Allen County.

The Morehead Insurance Agency will continue to operate in the same location with the same staff.

Topics Ohio Kentucky