Brown & Brown, Martin Benefits
Insurance broker Brown & Brown Inc. has acquired New York-based Martin Benefits Consulting and Martin Human Resources.
Terms of the deal were not disclosed. The businesses – which have combined annual revenues of approximately $3 million – offer employee benefits products and services in New York City and throughout New York, Connecticut and New Jersey.
The firms’ principal, Scott Martin, and his staff, will continue their operations from their current location in New York City.
Thomas E. Riley, regional president and chief acquisitions officer for Brown & Brown, said the business is “one of the leading employee benefits firms in the tri-state area, and we are excited about the opportunities presented by this addition to our New York presence.”
Added Martin: “This transaction will allow us to provide our clients with the same level of personalized service while exposing them to new resources and benefits.”
Crump, Target Underwriting
New Jersey-based wholesaler Crump Property & Casualty Insurance Services Inc. has acquired Target Underwriting Management Corp., a managing general underwriter and program administrator headquartered in Connecticut.
The acquired assets include Target Insurance Services, Garden State Insurance Services and Florida Liability Assurance Group. Established in 1998, the operations specialize in professional liability coverage including specialty programs for accountants, lawyers, staffing agencies, home inspectors and miscellaneous E&O.
Integro, ReSource Intermediaries
New York-based insurance brokerage and risk management firm Integro has acquired ReSource Intermediaries, Inc., a reinsurance advisory and brokerage firm based in San Francisco.
The move paves the way for Integro to become a reinsurance broker in the U.S., according to Integro President and CEO Peter Garvey. ReSource Intermediaries is an employee-owned firm with expertise in reinsurance for healthcare and professional liability sectors.
Old Republic, PMA
Chicago-based insurance holding company Old Republic International Corp. has completed its acquisition of PMA Capital Corp. In connection with the closing of the merger, Pennsylvania-based PMA changed its name to PMA Cos. Inc.
C.V. Starr
C.V. Starr & Co. said it has opened a Political Risks underwriting unit in New York City. Keith Dunford has been named underwriting manager for the unit, which will market Political Risks products as well as structured trade credit risk.
Topics New York
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