Berkshire Hathaway Inc. and Pasadena, Calif.-based Wesco Financial Corp. have entered into a definitive merger agreement, whereby Berkshire Hathaway will acquire the remaining 19.9 percent of the shares of Wesco’s common stock that it does not presently own in exchange …
Buckeye State Mutual Insurance Co. (BSMIC), a property and casualty insurer based in Piqua, Ohio, has agreed to affiliate with Middle Georgia Mutual Insurance Co. (MGM) of Griffin, Ga. The agreement is contingent upon regulatory approval from the Ohio and …
Ryan Specialty Group, Technical Risk Underwriters Chicago-based Ryan Specialty Group LLC has launched Technical Risk Underwriters (TRU), a specialty managing general underwriter (MGU) focused on underwriting complex construction and property risks. TRU is headquartered in Austin, Texas. The MGU is …
Chicago-based R-T Specialty, the wholesale brokerage unit of Ryan Specialty Group, has agreed to purchase the wholesale insurance business of American E&S Insurance Brokers (AES) from Wells Fargo Insurance Services. R-T Specialty said it will acquire substantially all of the …
New York-based Marsh & McLennan Agency has acquired Hampton Roads Bonding (HRB), a surety bonding agency for commercial, road, utility, maritime and governmental contractors in Virginia. Terms of the deal were not disclosed. HRB will operate within Rutherfoord, a Marsh …
Breckenridge IS Inc. has acquired a majority interest in REcentis Intermediaries LLC, a specialty reinsurance broker with offices in Westlake Village, Calif. and Sydney, Australia. REcentis has expertise in energy, casualty and financial reinsurance. It has consulted, designed and executed …
Applied Systems Client Network (ASCnet), the users group of Applied Systems insurance agency management software, has completed its transition to new offices near Chicago and hired several new staff, announced Steve Johnson, chief executive officer. The new Chicago-based staff will …
Bank of America agreed to offload its Balboa insurance portfolio to Australia’s QBE Insurance for more than $700 million, the latest in a string of asset sales by the U.S. lender as it recovers from the global credit crisis. Bank …
Distinguished Programs Group LLC (Distinguished), headquartered in New York, has acquired a controlling interest in GreenLine Underwriters (GreenLine), a Dallas-based program administrator focused on delivering insurance products through Web -based technology. The GreenLine platform enables agents and brokers to quote, …
California-based EPIC (Edgewood Partners Insurance Center), a retail property, casualty and employee benefits insurance brokerage, has created a national Public Entites Practice and team to deliver property and casualty risk management services, employee and executive benefits consulting and specialized risk …
