Business Moves

National

Travelers, Trōv

Trōv, an early insurtech that started life as a creator of micro-duration policies and evolved into an embedded insurance specialist, announced The Travelers Companies will acquire its technology assets.

Trōv’s insurance technology — application programming interfaces (APIs) and software — is dedicated to facilitating embedded insurance.

According to Trōv, the insurtech’s team and Trov’s embedded technology will be positioned within Travelers’ Personal Insurance segment.

Applied Underwriters, Catlin Specialty

Applied Underwriters is acquiring Catlin Specialty Insurance Co. from the AXA XL group of companies. Applied said it will consolidate Catlin into the North American Casualty group of companies in a move intended to bolster Applied’s operating capabilities in support of its strategic partners as the E&S market hardens.

Terms of the deal were not disclosed. The transaction is scheduled to close during the second quarter as anticipated regulatory approvals are received.

Jamie Sahara, president of Applied Underwriters, characterized the acquisition as a major advantage to Applied, its emerging E&S market leadership and its growing collaboration with channel partners in the sector: “Applied has consistently executed our commitment to sustaining and growing our national platform for E&S business and to intensifying our relationships with our strategic partners with whom we have impacted the sector. This is an important development for us and for our partners in the E&S market.”

Catlin Specialty Insurance Co. is licensed as an E&S carrier in all states except Oklahoma, where it will be domiciled and where it holds many surplus lines authorizations, Menzies said.

Formed in the 1950s, Catlin Specialty Insurance Co. was the subject of a series of transactions that culminated in its acquisition in 2006 by Catlin Group Limited. In 2015, the company became part of what is now AXA XL.

East

Risk Strategies, Joyce Insurance

Specialty insurance brokerage Risk Strategies acquired the retail brokerage operations and assets of Joyce Insurance Group and associated businesses in Pittston, Pennsylvania.

The acquisition of Joyce Insurance Group represents a solidification of Risk Strategies’ presence in Pennsylvania. In addition to its Pittston headquarters, Joyce has locations in Old Forge, Nanticoke and Allentown, Pennsylvania.

The associated firms included in the acquisition, Joyce Jackman Bell, and Joyce Haggerty Bell, have business focus in commercial lines and personal lines offerings, respectively.

Led today by founder Joseph Joyce Sr.’s three sons — John Joyce, Joseph Joyce Jr. and Bill Joyce Sr. — Joyce Insurance Group’s specialties include municipalities, schools, excavators, transit authority and public works-related firms.

World Insurance, Allied Partners

World Insurance Associates acquired Allied Partners Insurance Inc. of Gaithersburg, Maryland, on Feb. 1, 2022.

Allied Partners Insurance was established in 2014. Wilberto Rivera and Nathan Wethje are owners.

World Insurance Associates is headquartered in Tinton Falls, N.J. Since its founding in 2012, World has completed 141 acquisitions.

Hilb, Wharton Surety Consultants

The Hilb Group has acquired Wharton Surety Consultants, expanding its growing presence in the Philadelphia area.

Based in Wayne, Pennsylvania, Wharton specializes in surety and fidelity bonding. Serving clients nationwide, Wharton maintains relationships with more than 20 different sureties.

Agency Principal Eric Follman and his team of surety professionals will join the Hilb Group’s Mid-Atlantic regional operations.

Richmond, Virginia-based insurance brokerage Hilb Group is a portfolio company of The Carlyle Group, a global investment firm. Hilb Group has completed more than 125 acquisitions and now has over 100 offices in 22 states.

Midwest

High Street, The Craft Agency

High Street Insurance Partners acquired The Craft Agency in Jackson, Michigan.

The Craft Agency has been serving its clients for 100 years and provides comprehensive personal lines, commercial and life insurance across Michigan.

Robert Craft is president of The Craft Agency.

This marks HSI’s 100th acquisition in just over three years.

HSI offers business insurance and risk management, employee benefits and human capital management, financial and retirement services, and personal insurance solutions through local agencies. It has some 1,700 employees and consultants.

Antelope, Doggo

Pet wellness platform Antelope has acquired Doggo Insurance, a digital pet insurance provider.

Doggo is available in all 50 states and is in partnership with Crum & Forster Pet Insurance Group, based in Akron, Ohio.

Doggo Pet Insurance plans are underwritten by United States Fire Insurance Co. C&F and Crum & Forster are registered trademarks of United States Fire Insurance Co.

The Crum & Forster group of companies is rated A (Excellent) by AM Best Co. (2016).

Antelope, based in San Francisco, was founded in 2021 by Wendy Wen in partnership with Alpine Investors, a private equity firm that invests in software, business services and consumer services businesses.

Policy covered expenses include alternative therapy, end of life expenses, prescription pet food, supplements to treat a covered condition and veterinary treatment, including examinations, consultations and laboratory tests.

South Central

Higginbotham, WhitneySmith

Higginbotham acquired Fort Worth, Texas-based WhitneySmith Co., a provider of HR advisory services.

WhitneySmith will expand the service capacity of Higginbotham’s HR Services division while giving WhitneySmith the ability to offer insurance services to its clients.

Higginbotham named WhitneySmith founder and President Whit Smith a managing director; he and co-founder Gretchen Smith will continue overseeing WhitneySmith’s existing 10-person team in Fort Worth.

West

The Liberty Company, Babcock

The Liberty Insurance Brokers acquired R.W Babcock Insurance Brokerage Inc. in Pleasanton, California.

Founded in 2013 and led by Rob Babcock, R.W. Babcock Insurance specializes in insurance, surety, and various services for the construction, technology, manufacturing and life sciences industries.

The Liberty Company Insurance Brokers is a privately held insurance brokerage.

Liberty Company, LAGG

The Liberty Company Insurance Brokers acquired LAGG in Mesa, Arizona.

LAGG was formed in 2016 by Rick Mascolino.

The agency helps its clients in construction, transportation and personal lines.

The Woodland Hills, California-based Liberty Company Insurance Brokers is privately held.

Topics Pennsylvania