Filed Under:Agent Broker, Agency Management

Around the P&C Insurance industry: March 2, 2016

(Photo: Shutterstock)
(Photo: Shutterstock)

Amelia, Ohio-based American Modern Insurance Group said it will be leaving the lender-placed insurance business. The company said it is redeploying resources to its personal lines business.

Crystal Carstar Collision auto body repair shop in Leawood, Kan., said that it presented a 2010 Mazda 3 to a single mother of two on Feb. 16. The vehicle, donated by Farmers Insurance, was restored by Crystal Carstar’s staff and several local businesses as part of the Oak Creek, Wis.-based National Auto Body Council's Recycled Rides program.

Warwick, R.I.–based MetLife Auto & Home said that it has introduced its first commercial automobile policy, now available in Illinois, Indiana and Ohio.

East Windsor, Conn.-based Insuritas said it will begin offering insurance policies through Lathrup Village, Mich.-based Michigan First Credit Union in three months.

White Plains, N.Y.-based middle market agency Marsh & McLennan Agency LLC said it has acquired Lee's Summit, Mo.-based aviation risk advisor and insurance broker Aviation Solutions. Terms of the transaction were not disclosed. Aviation Solutions will operate out of MMA's office in Overland Park, Kan.

Winston-Salem, N.C.-based financial services company BB&T Corp. said it has reached an agreement to acquire Atlanta-based wholesale insurance broker CGSC North America Holdings Corp. (Swett & Crawford) from London-based Cooper Gay Swett & Crawford for $500 million in cas. Subject to regulatory approval, the transaction is expected to close in the first half of 2016, and excludes Swett & Crawford's non-U.S. business, which accounts for less than 5% of its total revenue.

Chicago-based insurance brokerage Hub International Ltd. announced that it has acquired the assets of Jacksonville, Fla.-based multi-line brokerage Greene-Hazel & Associates Inc. Terms of the acquisition were not disclosed, but Greene-Hazel’s CEO, Chip Greene, will join Hub Southeast and report to Chris Gardner, CEO of Florida, Hub Southeast.

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