Alliant Insurance Services announced the acquisition of Todd Garibaldi Insurance Agency, Inc. (TGI). The transaction is part of the company's growth plan via acquisition and focus on specialty industries such as agribusiness, construction, public entity, energy, tribal nations, and employee benefits. With TGI being the second agribusiness-focused acquisition, Alliant now has 10 offices in California, dedicated to farmers and growers. Todd Garibaldi will join Alliant as senior vice president for Agribusiness and Food Services. Todd Garibaldi Insurance Agency, Inc. will now be Todd Garibaldi Insurance Agency, a division of Alliant Insurance Services, Inc. and will continue to provide uninterrupted client services in Lodi, Calif.
Universal Insurance Holdings, Inc. announced that its wholly-owned subsidiary, Universal Property & Casualty Insurance Company (UPCIC), was issued a Certificate of Authority by the Virginia State Corporation Commission. UPCIC is now an approved licensed insurance entity in Virginia, making it the 13th state in which UPCIC is now licensed. One of the leading writers of homeowners insurance in Florida, UPCIC is also licensed to offer its homeowners insurance products in North Carolina, South Carolina, Hawaii, Georgia, Massachusetts, Maryland, Delaware, Indiana, Pennsylvania, Michigan and Minnesota.
W. R. Berkley Corporation announced the formation of Berkley Global Product Recall Management, a W. R. Berkley Company, to aid all types of businesses throughout the world in the prevention and management of product recall incidences. Products and services will be available through the W. R. Berkley Corporation network of companies. Louis Lubrano has been named president of Berkley Product Recall Management, bringing with him more than 30 years of property/casualty insurance industry experience, including more than 10 years as a crisis management leader. Philip Rorty has been named chief underwriting officer, bringing with him nearly 40 years of insurance and risk management experience as both an insurance leader and a corporate risk manager. Tamra Maupin will join as chief operating officer, bringing more than 15 years of experience in the insurance market.
The Actuarial Science, Risk Management & Insurance Department at the Wisconsin School of Business at the University of Wisconsin-Madison has been recognized as a national “Center of Actuarial Excellence,” by the Society of Actuaries (SOA). Programs are recognized after enduring a rigorous review process every five years. This is the second time the Wisconsin School of Business has been recognized as a national Center of Actuarial Excellence (CAE), and will benefit from their renewed CAE status until 2020. Only 26 colleges and universities worldwide have met SOA's high standards after evaluation and been awarded CAE status.
American International Group, Inc. (AIG) announced that, by third quarter of 2015, the company will acquire First Principles Capital Management, LLC, a privately held investment management firm. First Principles will continue to operate its business as a wholly-owned subsidiary of AIG, with its headquarters in New York City. Richard F. Dolan, First Principles' Chief Financial Officer and Managing Partner, will become the firm's Chief Executive Officer. Mark G. Alexandridis will become the firm's Chief Investment Officer.
The Society of Actuaries (SOA) announced a refreshed brand identity, along with a new logo. The SOA focuses on the advancement of the actuarial profession and the improvement of decision making to benefit society through research and education. The refreshed brand establishes a consistent identity, which will be featured on both SOA.org and its award-winning magazine, The Actuary. The new SOA logo is an infinity symbol which reflects how the organization continually evolves to produce forward-thinking education, cutting-edge research and professional development opportunities. The shield represents a strong foundation, bound by standards and principles, to protect the value of the SOA credential and the interests of the communities it serves.
ClearView Risk Holdings, LLC, the holding company of Southwest Risk, LP announced the addition of a new division, Southwest Risk Agency Services (SWRAS). The new division will be led by Joy Keller and will focus on binding business and programs for independent agents. Southwest Risk delivers customized property and casualty insurance coverage for the real estate, construction, transportation, professional, hospitality, medical, energy and manufacturing lines of business.
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Trudy Knockless
Trudy Knockless is a reporter on ALM Media's Business of Law desk. She has a background serving legal and insurance publications. Contact her at [email protected] or on LinkedIn at Trudy Knockless.
