MMIC
Minneapolis-based medical malpractice insurer MMIC is conducting business in Indiana. This brings the total number of states in MMIC’s core territory to nine.
MMIC President and CEO Bill McDonough said the company’s goals for the new state are to offer a mutual company option to the healthcare market and to provide competitive product and service offerings for all of MMIC’s business segments. The company plans to provide clients and agency partners with services in the areas of claim, risk management, underwriting, sales and health I.T. MMIC already has appointed several agents in Indiana.
Southport Lane, Dallas National
Southport Lane, a New York-based private equity firm, completed its acquisition of Dallas National Insurance Co., a Texas-based property/casualty insurer specializing in general liability and workers’ compensation.
Under the terms of the transaction, Southport Lane will make a $50 million investment in Dallas National, raising its capital and surplus to $107.5 million, and will acquire 100 percent voting control through an investment subsidiary. The acquisition has been approved by both the Texas Department of Insurance and the Delaware Department of Insurance. Dallas National’s core operations will remain in Texas.
Digital Insurance, Group Brokerage
Atlanta-based benefits broker Digital Insurance has acquired Group Brokerage Insurance Agency of Cambridge, Mass.
The nearly 30-year-old Massachusetts-based benefits firm will now operate under the banner of Digital Benefit Advisors (DBA), a division of Digital Insurance. It will be Digital Insurance’s first office in the New England region. Group Brokerage Insurance Agency’s founder and president John Siracusa and his team will be joining Digital Insurance’s DBA division.
Digital Insurance has acquired a number of businesses in recent months, including Benefit Services & Design of Raleigh, N.C., Health Star Consulting of Clayton, Mo., and Capital Benefits Group in Brentwood, Tenn.
Navigators Group
The Navigators Group, a specialty insurance holding company, plans to move its corporate headquarters from Rye Brook, N.Y., to Stamford, Conn., promising to add 200 jobs in Connecticut within the next five years. The company expects to finish the move around Labor Day, according to The Associated Press.
The Navigators Group also will be a recipient of Connecticut’s state aid program. Under the agreement, Navigators will receive a 10-year, forgivable, no-interest loan of up to $8 million and a grant of up to $3.5 million, according to an announcement by Connecticut Gov. Dannel Malloy.
G.J. Sullivan, Network E&S
G.J. Sullivan Company Excess & Surplus Lines Brokers has acquired Network E&S Insurance Brokers’ book of California business.
David Gorin and Sherri Gust will join GJS E&S, and will operate from Sullivan’s Orange County, Calif., office.
Gorin will be responsible for servicing Network’s book of business and acquiring new business for all lines.
G.J. Sullivan Company acts as an insurance wholesaler, providing a variety of retail agents and brokers across the United States with access to North American and international surplus lines insurance markets. Among the specialized insurance programs are directors and officers (D&O), tow trucks, trucking and restaurants.
The G.J. Sullivan Company Excess & Surplus Lines Brokers is a member of The Sullivan Group consortium.
Topics Texas Connecticut
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