New York-based USI Holdings has closed on its acquisition of Mastors & Servant Risk Services, a Rhode Island-based brokerage that specializes in commercial property/casualty, bonds and employee benefits insurance for middle-market businesses. Terms of the transaction were not disclosed. Mastors …
In 2009, independent insurance agents and brokers faced a “perfect storm” with the economic downturn, premiums at a fraction of what they used to be, and unemployment and home foreclosure rates up, said Kevin Baker of San Jose, Calif.-based Suhr …
Peoria, Ill.-based RLI Corp. announcedthat it will acquire Contractors Bonding Insurance Co. (CBIC) through an acquisition of its holding company, Data and Staff Service Co. (DSS) for approximately $137 million in cash. The acquisition is subject to regulatory approval and …
FINEX National, which handles financial, professional and management liability insurance for clients of Willis Group Holdings, announced that it has launched a new offering under its VEAGIS brand, a professional indemnity (PI) insurance policy for UK property professionals, including valuers, …
Two New York agents’ groups said they have taken the first steps to appeal a decision by state court judge allowing state insurance regulators to force brokers to reveal their commissions. The Independent Insurance Agents and Brokers of New York …
In giving her Christmas gifts for 12 straight days, a true love inspires his girlfriend to build a whole new life. It’s a joyful story for the holidays but one that comes with risks. According to the popular Christmas carol, …
Catlin Group Limited announced that, “based on total insured losses from the New Zealand earthquake of US$5.5 billion to US$6 billion, its loss amounts are approximately US$45 million, net of reinsurance and reinstatements. The revised estimate increases Catlin’s previous exposure …
A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings of ‘A ‘(Excellent) and issuer credit ratings (ICR) of “a+” of Lloyd’s Syndicate 2623, Lloyd’s Syndicate 623, Lloyd’s Syndicate 3623 and Lloyd’s Syndicate 3622. In addition Best …
The world’s top three insurance brokers have joined reinsurer Munich Re to promote a major expansion in risk coverage for deepwater drilling in the wake of BP’s disastrous Gulf of Mexico spill last April. Their goal is to expand liability …
Marsh’s retail agency business has acquired Trion Group Inc., the largest privately held employee benefits specialist in the United States with $74 million in annual revenue. Terms of the deal were not disclosed. Conshohocken, Pennsylvania-based Trion offers consulting, brokerage, group …
