Filed Under:Agent Broker, Agency Management

Around the P&C insurance industry: May 17, 2017

News from FM Global, Crum & Forster, Tokio Marine and more. (Photo: Thinkstock)
News from FM Global, Crum & Forster, Tokio Marine and more. (Photo: Thinkstock)

Specialty insurance distributor AmWINS Group Inc. has acquired insurance aggregator Networked Insurance Agents. Terms of the transaction were not disclosed.

Fort Worth, Texas-based Interstate Restoration has acquired West Palm Beach, Florida-based Restoration Alliance. Terms of the deal were not disclosed.

Insurance brokerage Hub International Limited has made the following acquisitions:

  • Rossmann-Hurt-Hoffman Inc.
  • City Insurance Services and its affiliates Silver City Insurance Services Inc. and J&C Financial Planning Inc.
  • Scarborough Company Insurance Inc.

Terms of the acquisitions were not disclosed.

FM Global has announced that its eligible policyholders will collectively receive an estimated $435 million in membership credit when they renew their policies between June 30, 2017 and June 29, 2018. The membership credit is a result of the company’s strong operational and financial results in 2016, during which FM Global posted a combined ratio of 83.2 percent and had a policyholders’ surplus of $11.9 billion.

Itasca, Illinois-based insurance brokerage and risk management services company Arthur J. Gallagher & Co.  has acquired Harlingten, Texas-based Texas Insurance Managers Inc. Terms of the transaction were not disclosed.

The Bermuda Business Development Agency (BDA) has launched the Bermuda Risk Directory, a digital portal for global insurance customers. The site offers access to the island's brokers, as well as insurance, reinsurance, captive insurance and insurance-linked securities sectors.

Claims inspection company J.S. Held has become majority owner of Spex, a technology developer founded by two adjusters to create technology that will expedite the claims investigation process. Terms of the deal were not disclosed.

Marsh & McLennan Agency LLC has acquired Abilene, Texas-based employee benefits consulting firm Insurance Partners of Texas. Terms of the transaction were not disclosed.

Employee benefit and P&C insurance provider Alera Group has acquired Wormleysburg, Pennsylvania-based Striewig Bonding Agency Inc. Terms of the transaction were not disclosed.

Crum & Forster has rebranded its pet insurance division, Hartville Pet Insurance Group, to Crum & Forster Pet Insurance Group. Crum & Forster acquired Hartville in 2013.

Cross Insurance has acquired South Weymouth, Massachusetts-based A.E. Barnes Insurance Agency. Financial terms of the acquisition were not disclosed.

Jacksonville, Florida-based workers’ compensation services provider One Call Care Management has consolidated its two Jacksonville locations into one location for its corporate headquarters. The new office is expected to open by the end of the first quarter of 2018.

Jacksonville, Florida-based property and casualty insurance retailer Brightway Insurance opened five new agencies in one day on May 15. The new offices will be located in:

  • Mt. Pleasant, South Carolina
  • Edmond, Oklahoma
  • La Puente, California
  • Sherman Oaks, California
  • Miami Lakes, Florida

Tokio Marine HCC has added Tenant User Liability Insurance Policy (TULIP) to their event product portfolio. TULIP programs provide a simple solution for a venue or facility owner to set up an annual policy covering their lessees for third-party liability when holding events.

Related

Around the P&C insurance industry: May 3, 2017

News from AIR Worldwide, Liberty Mutual, Patriot National and more.

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