NU Online News Service, June 1, 2:17 p.m. EDT
During the month of May insurance brokers including Arthur J. Gallaher & Co., Brown & Brown and Hub International Ltd. made acquisitions throughout the United States and, for AJG, abroad.
Terms of all the transactions were not announced.
ARTHUR J. GALLAGHER
Arthur J. Gallagher said it acquired Schiff, Kreidler-Shell Insurance and Risk Services headquartered in Cincinnati, Ohio.
With operations dating back to 1876, Schiff, Kreidler-Shell Insurance and Risk Services is a retail-insurance broker providing P&C, employee benefits and risk management insurance and consulting services to clients throughout the central United States. It specializes in the construction, agriculture, manufacturing, healthcare and financial service industries as well as cultural and social service non-profit organizations.
Thomas R. Dietz, chief executive, and his 100 employees will continue to operate from their Cincinnati and Edgewood, Ken., locations as Gallagher SKS under the direction of Thomas J. Gallagher, head of Gallagher's Midwest retail P&C brokerage operations.
In Dallas, AJG acquired Professional Claims Managers (PCM).
Formed in 1986, PCM is a full service third party administrator providing comprehensive claims and litigation management services to domestic and foreign clients involved in the business of underwriting and managing loss.
J. Brian Hobbs and his associates will continue to operate in their Dallas location under the direction of Robert E. Blasio, president of Western Litigation, Inc., a division of Arthur J. Gallagher & Co.'s retail P&C brokerage operation.
AJG also acquired VEBA Service Group, LLC in Spokane, Wash. Formed in 1984, VEBA Service is a health reimbursement arrangement consulting firm that assists in the design and implementation of tax-advantaged health care reimbursement plans.
Outside of the United States, AJG acquired more than 78 percent interest in Insurance Dialogue Ltd. of Bournemouth, England. The retail insurance broker provides personal lines insurance for clients primarily in the United Kingdom that are over 50 years of age.
AJG also increased its equity interest in CGM Gallagher Group Ltd. of Kingston, Jamaica, from 38.5 percent to 80 percent. The firm provides property and casualty, health, risk management, reinsurance and risk modeling services to clients throughout the Caribbean.
BROWN & BROWN
Daytona Beach, Fla.-based Brown & Brown acquired Richard W. Endlar Insurance Agency, Inc., in Dedham, Mass.
Founded in 1975, Endlar Insurance specializes in providing P&C insurance products to condominium associations and other habitation-related clients in Massachusetts and throughout New England. The company also offers a broad spectrum of other P&C insurance products to its clients in other sectors. The company has combined annual revenues of approximately $4.6 million.
The agency will continue to operate from its current location in Dedham under the leadership of Howard Savitt, the shareholder of the agency.
HUB INTERNATIONAL
Hub International announced it has acquired the insurance brokerage firms Knauff Insurance Agency, Inc., of Charlotte, N.C. and Association Benefits Insurance Agency, Inc. of Lynnfield, Mass.
Knauff was founded in 1969. A full service agency, Knauff offers a diverse array of P&C commercial and personal lines, surety bond, and life and health products and services to a diverse client base throughout North Carolina, South Carolina and Georgia.
The firm has particular expertise in serving the insurance and risk management needs of the construction, education, and manufacturing industries.
Knauff's operation will become part of Hub International Southeast and will continue to operate out of its existing office. James W. “Skip” Knauff, president of Knauff, will join Hub Southeast reporting to Allison Rhyne, president, Hub Southeast.
Founded in 2000, ABIA specializes in arranging commercial lines insurance programs for the members of a wide range of endorsed associations. Some of the insurance solutions ABIA has implemented for various associations include programs for workers' compensation, property and liability, commercial auto, health, among others.
ABIA will become part of Hub International New England LLC. Co-Principals Frank Venuto and Frank Michaud will join Hub New England, reporting to Michael S. Chapman, chief sales officer.
CONFIE SEGUROS
New York-based insurance broker Confie Seguros announced the acquisition of six insurance agencies.
The agencies acquired are: Survival Insurance, in Burbank, Calif.; Speedlane Insurance, in Upland, Calif.; The Chapman Agency, in Elizabeth, N.J.; Coppola Insurance, in West Seneca, N.Y.; Palmetto Insurance, in Miami; and, Daley Insurance, in Margate, Fla.
HIGGINBOTHAM
Forth Worth, Texas-based insurance broker Higginbotham acquired BenefitSpecialists, a Houston-based employee benefit broker and consulting firm to mid-sized employers that opened its doors in 1988.
Higginbotham is a recipient of National Underwriters' Agency of the Year Award for 2002.
PERSONABLE INSURANCE
San Diego-based Personable Insurance, an independent agency specializing in non-standard auto insurance, acquired Royce City, Texas-based Endeavor General Agency, LLC, a non-standard personal automobile managing general agency operating exclusively in the state of Texas.
Personable Insurance is a portfolio company of Denver-based private equity firm Excellere Partners.
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