Business Moves

JLT Re, StoneHill Reinsurance

JLT Re has acquired StoneHill Reinsurance Partners, a reinsurance intermediary specializing in medical professional liability.

StoneHill, which is based in Minneapolis, will form part of JLT Re (North America). Terms of the deal were not disclosed.

StoneHill was established by Dan Koshiol in 2012 as an independent casualty reinsurance broker with a focus on medical professional liability. The StoneHill team, led by Koshiol and Chip Ott, will join JLT Re.

Ed Hochberg, CEO of JLT Re (North America) Inc., said this acquisition “will strengthen JLT Re’s position as a market leader in the medical professional liability space by bringing together two complementary businesses that have longstanding professional relationships and expertise.”

JenCap Holdings LLC, NIF Group Inc.

JenCap Holdings LLC has agreed to acquire privately held NIF Group Inc. (NIF).

JenCap Holdings is a New York-headquartered consolidator of specialty insurance distribution and program management businesses. It was formed in March 2016 by The Carlyle Group and JCH management to consolidate specialty insurance distribution businesses, including managing general agents, program managers and transactional wholesale brokers.

NIF Group Inc. is a managed general agency, program administrator and wholesale insurance broker based in Manhasset, N.Y. It was formed in 1976 and has grown to more than $185 million in annual written premiums.

The acquisition of NIF is the fourth transaction by JCH since March 2016 and places the company among the largest wholesale brokers in the U.S.

Auto-Owners Insurance, Concord General Mutual Insurance

Auto-Owners Insurance, a Lansing, Mich., based insurance provider, has announced its proposed affiliation with Concord, N.H.-based Concord General Mutual Insurance group of companies.

The transaction has been approved by both Auto-Owners’ and Concord’s boards and is expected to close in the second quarter of 2017, pending regulatory and Concord policyholder approval.

This will allow Auto-Owners to expand to the four New England states in which Concord operates — New Hampshire, Vermont, Maine and Massachusetts — and grow its offering of commercial and personal lines products through Concord’s network of 500 independent agencies.

Because mutual companies are owned by policyholders, they can’t be acquired outright. Instead, Concord will keep its own name while becoming a member of the Auto-Owners family of companies.

There will be no employee cuts as a result of the transaction. Both companies plan to add associates over time.

Cross Insurance, Colt Insurance

Cross Insurance, a Bangor, Maine-based subsidiary of Cross Financial Corp. and one of the largest independent insurance providers in New England, has expanded its presence in western Massachusetts, New York and southern Vermont with the acquisition of Pittsfield, Mass.-based independent insurance agency Colt Insurance.

Colt Insurance, founded 80 years ago by Samuel Colt, provides a range of insurance services including business and personal lines, as well as employee benefits, and health and life insurance products.

Financial terms of the acquisition are not being disclosed.

Under the terms of the acquisition, Colt Insurance will become a wholly owned subsidiary of Cross Insurance and will continue to operate under the same name.

Orlando will oversee the combined insurance agencies as president. Kelly Collins, former owner and president of Colt Insurance, will continue working for Colt as executive vice president of the agency. Colt’s staff of 14 employees will remain with Colt, and additional hires are expected as the agency continues to grow under Cross.

Grundy County Farmers Mutual, CFM Insurance

The boards of Missouri-based mutual insurance companies CFM Insurance Inc. and Farmers Mutual Insurance Company of Grundy County, have approved a plan to merge the two companies.

Pending regulatory approval, all FMIC of Grundy County polices will transfer to CFM.

FMIC of Grundy County has been in operation since 1895, and CFM has insured Missouri families and businesses since 1869, with $20 million in written premium and more than 21,000 policyholders.

With this merger, the united companies will become one of the oldest mutual legacies in Missouri, bringing advantages for policyholders, including stronger policy coverages, rate stability, and reduced reinsurance costs, the companies said.

Higginbotham, Insurance Associates of the Southwest

Ft. Worth, Texas-based independent insurance broker, Higginbotham, and Insurance Associates of the Southwest (IAS) have merged their operations in Houston.

IAS is an independent broker with 38 commercial, personal, life, health and employee benefit professionals in its Energy Corridor office neighboring Higginbotham’s office. After the merger, Higginbotham has a workforce of 160 in Houston and 904 statewide.

Higginbotham entered Houston in 2008. This is the sixth merger Higginbotham has completed in 2016 as part of a growth initiative across Texas whereby the firm partners with brokers with strong local reputations.

IAS will continue operating under the leadership of Managing Director Jim Kottwitz in collaboration with Higginbotham’s Houston Managing Directors Koby Hackradt and Dudley Ray.

IAS opened in 1996 with the merging of three Houston insurance agencies, and a fourth joined in 2002. The firm brokers commercial and personal property/casualty insurance, employee benefits and life/health insurance with services for managing risk and settling claims. It has concentrated experience in the manufacturing, real estate, construction, distribution, high-tech, real estate, medical and professional industries, serving national and international companies.

USI, Ball Peoples

USI Insurance Services (USI) has acquired Ball Peoples, an employee benefits advisory firm headquartered in Austin, Texas.

Since 1975, Ball Peoples has been providing employee benefits for clients throughout central Texas and across the Southwest. The employees will remain at their Austin location.

Terms of the transaction were not disclosed.

John D. Collado, USI southwest regional chief executive officer, said Ball Peoples co-owners Thomas H. Ball III and Daniel L. Peoples, and their team will play an important role to further the employee benefits practice throughout the southwest.

USI is headquartered in Valhalla, N.Y.

Acrisure, USA Insurance Brokers

Acrisure LLC has acquired Alaska USA Insurance Brokers’ commercial insurance and employee benefits books of business.

The new company will operate under the name Insurance Brokers of Alaska. All commercial lines and employee benefits staff will remain the same and operate out of the existing location. Alaska USA Insurance Brokers will continue to operate as a personal lines insurance agency.

Alaska USA Insurance Brokers is headquartered in Anchorage.

Grand Rapids, Mich.-based Acrisure is a retail insurance brokerage.

Hub, MDW

Hub International Ltd. (Hub), a global insurance brokerage, has acquired the assets of MDW Insurance Group Inc. and its affiliates, Agents Insurance Resources Inc. and A.I.R. Insurance Marketing Inc. (MDW). Terms of the acquisition were not disclosed.

Based in Coral Gables and Plantation, Fla., and Los Angeles, MDW is a multiline insurance products provider. Jeff Weiner, CEO of MDW, and Ivor Bamberger, president of MDW, will join Hub Southeast and report to Christopher Gardner, CEO, Hub Florida.

Headquartered in Chicago, Hub provides property and casualty, life and health, employee benefits, investment and risk management products and services from offices located throughout North America.

Risk Strategies, Advanced Insurance

Risk Strategies Co., a privately held, national insurance brokerage and risk management firm, has acquired business insurance specialist Advanced Insurance Underwriters (AIU), headquartered in Hollywood, Fla. Terms of the deal were not announced.

AIU specializes in commercial property and casualty insurance with additional capabilities in employee benefits, private client services and other specialty insurance programs. Included in the acquisition is Advanced E&S Group, a managing general underwriter.

AIU was founded in 1976 and has additional offices in Miami, Sarasota, Palm Beach, Estero and Marco Island, Fla. In addition to south Florida, its Advanced E&S Group maintains offices in Dallas, Chicago, and Basalt, Colo.

In its commercial brokerage and risk management business, AIU serves a cross-section of industries including real estate, construction, hospitality, healthcare, resorts, and clubs among others. AIU specializes in property insurance and works to develop customized insurance and risk management plans for high-end dwellings, high-rise condominiums and apartment buildings.

Combined, AIU has approximately 140 employees. Prior to the acquisition, Risk Strategies had more than 800 employees nationwide.

Risk Strategies Co. is a U.S. insurance broker offering risk management advice as well as insurance and reinsurance placement for property and casualty, healthcare and employee benefits risks.

Arthur J. Gallagher, National Ethics Bureau

Arthur J. Gallagher & Co. has acquired National Ethics Bureau Inc. in Carlsbad, Calif.

Terms of the deal were not disclosed.

Japheth Smellie and his team will continue to operate from their southern California location under the direction of Kevin Garvin, head of Gallagher’s North American affinity operations.

National Ethics Bureau, doing business as the National Ethics Association, is a

national program administrator that provides insurance products and services for its association members throughout the U.S. It specializes in errors and omissions insurance coverage for business professionals such as insurance agents, investment advisors, real estate agents, tax preparers and bookkeepers. It also offers its members a variety of other association-sponsored products and services.

Itasca, Ill.-based Arthur J. Gallagher is an international insurance brokerage and risk management services firm.