Business Moves

National

Mitsui Sumitomo Insurance Co., W.R. Berkely Corp.

Japanese property/casualty insurer Mitsui Sumitomo Insurance Co. will buy a 15% stake in W.R. Berkely Corp. through open market purchases or private transactions with third parties. W.R. Berkely said the Berkely family will not sell any of its common stock as part of the deal. MSI will not buy any shares from the company itself. The day-to-day operations of W.R. Berkley Corp. will not be affected by this agreement between MSI and the Berkley family.

Under the terms of the agreement, the Berkley family will recommend the nomination and election of an MSI “direct designee” to W.R. Berkley’s board of directors when MSI acquires at least 12.5% of outstanding shares. Prior to that threshold – when MSI buys 4.9% of shares – “MSI agrees to vote those shares pursuant to the recommendations of the Berkley Family, except in limited circumstances where the Berkley Family will vote the MSI shares in the same proportion as all of the non-MSI shares are voted.”

MSI’s investment is expected to be completed by the end of the first quarter 2026, pending regulatory approvals.

The Doctors Company, ProAssurance Corp.

The Doctors Company has entered an agreement to acquire ProAssurance Corp. for $1.3 billion, taking the company private.

Birmingham, Alabama-headquartered ProAssurance is a specialty insurer with expertise in medical liability, products liability for medical technology and life sciences, and workers’ compensation insurance.

The Doctors Co. of Napa, California is the nation’s largest physician-owned medical malpractice insurer.

The transaction is expected to close in the first half of 2026. Upon completion, ProAssurance’s common stock will no longer be listed on the New York Stock Exchange, and ProAssurance will become a wholly owned subsidiary of The Doctors Co., creating a combined company with assets of approximately $12 billion.

International

Nirvana, Pulse

Managing general agent Nirvana announced it is acquiring Pulse, an MGA specializing in non-standard accident, health and life, and sports & leisure insurances. Financial terms of the deal were not disclosed.

Nirvana underwrites a global book of business across media errors & omissions (E&O), tech E&O, cyber, and warranty and indemnity lines of insurance.

Neither business plans any changes to their teams as a result of the transaction, and brokers and clients will therefore continue to interact with their usual underwriter contacts without disruption to service.

The transaction is subject to standard change of control processes with both the Financial Conduct Authority (FCA) in the UK and the Financial Services and Markets Authority (FSMA) in Belgium.

East

Liberty Mutual Insurance, Safeco Insurance

Safeco Insurance will stop being a brand name in 2026, and Liberty Mutual Insurance will sell all of its personal lines products under the Liberty Mutual name.

Safeco has been Liberty Mutual’s brand for the independent agent channel to sell home, auto and specialty business since Safeco was acquired by the Boston-based insurer in 2008.

Liberty Mutual said the policies of Safeco customers will not be impacted, and customers will keep their agent relationship. Liberty Mutual also uses direct distribution and licensed sales reps.

Since it was bought by Liberty Mutual, Safeco’s 22,000 or so independent agencies helped grow the business to $13 billion in annual premium, as the company sometimes stepped in to assume books of business from other insurers. It did so late last year, taking on the personal lines book of Main Street America.

In September 2024, Safeco said it entered into a personal auto and umbrella lines book transfer agreement with Columbia Insurance Group.

Midwest

WTW, Global Commercial Credit LLC

WTW announced the acquisition of Global Commercial Credit LLC (GCC) into Willis, a WTW business.

Founded in Michigan in 1995 with a primary focus on developing custom-tailored credit risk management solutions for clients, GCC has developed a foundation in specialized products, including trade credit and political risk insurance and credit information services.

The addition of GCC will enhance Willis’ diversification across industries, further expanding the business’ footprint across targeted, strategic sectors. This acquisition provides geographic expansion in a key growth area of the North American market.

As part of its acquisition of GCC, WTW will also acquire ProfitGuard, a specialized credit risk management service that is complementary to trade credit insurance and can be scaled to provide added value for Willis’ global clients.

RYZE, Acorn Claims

RYZE Claim Solutions, a full-service claims management provider, announced its acquisition of Acorn Claims, a Springfield, Missouri-based firm specializing in daily and catastrophe claims services nationwide.

RYZE said the transaction further supports its position in the industry, reinforcing its commitment to innovation, service excellence, and continued expansion as a part of its previously released M&A strategy.

Acorn Claims offers a comprehensive suite of claims management services, including Third-Party Administration (TPA) and its proprietary audit service, Expert Technical Analysis (ETA), which is a dedicated review process to ensure mitigation work is performed to industry standards.

Rob Brown and Kirk Belz will join the RYZE management team.

Hub International Limited, Dansig

Hub international Limited announced that it has acquired the assets of Dansig, Inc., d/b/a Dansig Insurance Risk Advisors (Dansig). Terms of the transaction were not disclosed.

Located in Decatur, Illinois, Dansig is an independent insurance risk advisor offering a suite of employee benefits services, and commercial and personal insurance to help clients manage insurance costs, reduce risk and engage employees.

Daniel Reynolds, President & CEO, and the Dansig team will join Hub Midwest West.

Dansig will be referred to as Dansig Insurance Risk Advisors, a Hub International company.

South Central

Arthur J. Gallagher’s Risk Placement Services, Litchfield Special Risks Inc.

Arthur J. Gallagher division Risk Placement Services (RPS) acquired Litchfield Special Risks Inc. (LSR), based in El Paso, Texas.

Bill Brenton and his team will remain in their current location under the direction of Ash Thomas, the Western Region vice president for RPS.

LSR is a wholesale insurance broker and managing general agency specializing in transportation and property/casualty solutions for Texas and Southwest retail agents.

RPS is the U.S. wholesale brokerage, binding authority and programs division of Arthur J. Gallagher & Co., an insurance brokerage, risk management and consulting services firm headquartered in Rolling Meadows, Illinois.

RYZE Claim Solutions, Leading Edge Claims Service

RYZE Claim Solutions, a full-service claims management company, acquired Leading Edge Claims Service, a firm based in Southlake, Texas.

Under the agreement, Leading Edge will operate as a division of RYZE while maintaining its leadership, with company founder and President Troy Hansen continuing to lead operations.

Founded in 2007, Leading Edge Claims Service has earned its reputation as a provider of quality claims services nationwide. The company’s expertise is in daily and catastrophe claims and third-party administration (TPA).

Southeast

Berkshire Hathaway’s GEICO

Berkshire Hathaway’s GEICO insurance plans to open a new campus in Tampa late this summer, bringing more than 1,000 jobs to the area.

The property and auto insurer also plans to open an office in the Dallas area by this fall, adding another 1,000 jobs, the company said in news releases.

The three-building, 190,000-foot Tampa site was purchased two years ago by Greenleaf Capital, the real estate division of Tampa-based HCI Group.

HCI is the parent company of potential GEICO competitors: Homeowners Choice Insurance, TypTap Insurance, Tailrow and CORE condominium insurance firms. GEICO has signed a multi-year lease on the property, HCI said in a news release.

The office complex near the Tampa International Airport was previously home to New York Life. The Tampa Bay Times reported that the property sold in 2023 for almost $13 million. HCI said that the campus now has a value of $17 million. HCI Group reported almost $15 million in net investment income for 2024, up 28% from 2023.

GEICO already has offices in Lakeland and Jacksonville, with some 3,800 employees in Florida. The firm said job opportunities at the new Tampa office will include insurance sales, service, and claims positions.

In Texas, the company announced late last year that it planned to open an office in Richardson, north of Dallas, bringing about 500 jobs to the site.

GEICO said it was adding a second building to the expansion plans and an additional 1,000 jobs. The complex is scheduled to open late this year.

West

CoreLogic

Property data provider CoreLogic is rebranding to Cotality. The rebrand includes a new name, logo and brand identity.

The new Cotality also comes with a new tagline, “Intelligence beyond bounds,” which the company said serves as an expression of its identity.

The company is based in Irvine, California, and has operations in the U.S., Canada, the United Kingdom, Australia, New Zealand, India and Germany.

World Insurance Associates LLC, Royalty Insurance Services

World Insurance Associates LLC has acquired Royalty Insurance Services in Van Nuys, California.

Royalty has provided commercial trucking insurance for over 23 years.

World Insurance Associates is headquartered in Iselin, New Jersey with more than 300 offices across the U.S. and U.K.