Business Moves

W.R. Berkley, Verus Underwriting

Connecticut-based insurer W. R. Berkley Corp has launched Richmond, Virginia-based Verus Underwriting Managers, a subsidiary that will provide property and casualty excess and surplus lines coverage and underwrite on behalf of W. R. Berkley Corp. Dale H. Pilkington has been named president of Verus. Pilkington has more than 30 years of experience in the commercial insurance industry, with a primary focus on excess and surplus lines.

Marsh, Bostonian

Marsh has acquired The Bostonian Group in a deal that gives the broker’s upstart, retail agency division a sizable presence in New England.

Terms of the transaction were not disclosed.

The Bostonian Group – which has 60 employees and approximately $14 million in annual revenue – is a full-service insurance brokerage with dedicated capabilities in employee and executive benefits, human resources and retirement services.

Bostonian Group CEO Jim Blue and President Phil Litos will retain leadership roles in the firm’s Boston operation. All of Bostonian Group’s employees will remain with the firm and join MMA.

Marsh says the acquisition makes it the country’s twelfth-largest insurance agency with annual revenue of approximately $185 million.

The Boston-based insurance broker will continue to operate under the Bostonian Group name for the foreseeable future, Marsh said.

Pavese McCormick, Valvano, Consolidated Agents

Two New Jersey insurance agencies have joined forces to launch a master agency named Consolidated Insurance Agents.

Pavese McCormick Insurance Agency, of Monmouth Junction, and Valvano Insurance Agency, of Linden, say the master agency will offer several partnership-affiliation methods. A handful of larger firms seeking equity positions are to be balanced with affiliates seeking the benefits of aggregating their premiums, the two agencies said.

A master agency is a partnership arrangement in which independent agencies pool some services and premiums.

The agencies say the model allows agents to maintain independence, share services and cut operating costs while freeing-up principals and producers to allow them to concentrate on acquiring new business, retaining clients and increasing revenue.

PMA

Pennsylvania-based PMA Cos. announced plans to expand its regional hub in Connecticut, a move the insurance services and risk management firm says will help grow its presence in Connecticut, Massachusetts, Rhode Island and Vermont.

The expanded New England footprint will allow PMA to focus on growing third party administration accounts and P/C-related businesses, the company said. The New England expansion began in 2008 when PMA purchased Webster Risk Services, a regional TPA provider based in Meriden.

The Meriden office offers in-house underwriting, claims and risk control services, and has 48 staff members. The company said it expects to add staff as new business increases. “We look forward to sharing our risk management expertise with the leading institutions, companies and public entities throughout the New England states,” said John Santulli, executive vice president of PMA Cos.

RLA

RLA Insurance Intermediaries has opened its corporate headquarters at 50 Federal St. in Boston. The firm provides market intelligence to retail insurance agents and brokers. The company says the opening will enable it to market its services throughout the regional, national and international insurance markets.

The Brownyard Group

New York-based program administrator The Brownyard Group has formed a new division to serve as a facilitator between its agents and brokers and its underwriting and claims teams. The new division, Brownyard Client Services, will evaluate the needs of brokers and insureds and serve as an informational resource for agent/broker clients through a team of experienced insurance professionals.

Topics Connecticut