Around the P&C insurance industry: Aug. 15, 2018
News from HUB International Limited, Arthur J. Gallagher & Co., AIR Worldwide and more.
HUB International Limited has acquired Blackstone Insurance, Benefits & Bonding Inc. Terms of the acquisition were not disclosed.
Accounting and advisory firm Baker Tilly Virchow Krause LLP and financial investigations firm RGL Forensics have announced the merger of the two firms with an effective date expected by the end of the year. RGL will continue to operate under its current brand as the firms work through their integration strategy.
Arthur J. Gallagher & Co. has acquired Leystone Insurance & Financial Inc. Terms of the transaction were not disclosed.
Catastrophe risk modeling firm AIR Worldwide has released an updated Wildfire Model for the United States. The model is designed to provide a comprehensive view of the risk of wildfire to property within the 13 westernmost conterminous states. The event-based modeling approach accounts for the variability in weather in the current climate regime and its impact on fire behavior, enabling the model to simulate correlated countrywide wildfire activity.
AmWINS Group Inc. has announced the formation of two specialty managing general agencies focused on the marine industry: AmWINS Specialty Logistics Underwriters (ASLU) and Sentinel Marine Underwriters (SMU). ASLU provides a package insurance solution for freight forwarders and third party logistics operators; SMU offers marine and cargo insurance solutions, including global risk control, for clients including importers, exporters, manufacturers and wholesalers.
Oklahoma Governor Mary Fallin has signed a rule requiring one hour of flood insurance continuing education beginning January 2019. With the new education requirements, insurance professionals will learn what is covered in flood policies. Resident producers, customer service representatives and adjusters with a property line of authority will have to complete one hour of econtinuining education per license period.
Align General Insurance Agency and Catalytic Risk Managers have announced they are coming together under a single ownership structure and are receiving a strategic investment from Bregal Sagemount intended to support their continued expansion. Bregal Sagemount’s investment was led by Gene Yoon and Blair Greenberg, who will both join the new corporate parent board.
Alera Group has acquired Barnes Insurance & Financial Services (BIAFS). BIAFS is a performance-based, best practice benefit with two locations in northwest Florida.
Burns & Wilcox has announced the following changes to select office locations:
- The Milwaukee office will now be located at 20700 Swenson Drive, Suite 450, Waukesha, Wis. 53176. The office specializes in commercial, professional, personal and environmental specialty insurance.
- The Minneapolis office will now be located at 150 South Fifth Street Towers, Suite 2650, Minneapolis, Minn. 55402. The offices focuses heavily on specialty commercial and personal insurance.