Around the P&C insurance industry: March 20, 2019
News from Neptune Flood, Liberty Mutual, The Hilb Group LLC and more.
Online flood insurance company Neptune Flood is now offering policies to residents of Missouri, Colorado, New Hampshire, Rhode Island, West Virginia and Indiana. This brings the total number of states with access to its flood protection to 27.
Liberty Mutual has concluded its strategic review of its London-based Pembroke Managing Agency Limited and Dublin-based Ironshore Europe DAC businesses, acquired through the Ironshore purchase in May 2017. As a result of the review, Liberty Mutual has reached an agreement to sell its Pembroke Managing Agency, Ironshore Europe operations and Visionary to Hamilton Insurance Group, subject to regulatory approval.
The Hilb Group LLC has acquired Massachusetts-based Marsh-Kemp Insurance Agency Inc. The transaction became effective on March 1, 2019.
Nationwide has partnered with Slice Labs, an insurance cloud services platform provider, to develop on-demand ride-share insurance solutions for drivers who work for transportation network companies such as Uber and Lyft. The two companies are developing an insurance solution for ride-share drivers that will enable them to purchase on-demand coverage via an app and at variable increments that align with the time they are driving for their ride-sharing platform.
CSAA Insurance Group, a AAA insurer, launched a new benefit to help employees pay off their student loans while saving for retirement. The company has partnered with Tuition.io to offer the benefit to both full-time and part-time employees.
Alera Group has acquired TriSure Corporation. Terms of the transaction were not disclosed.
Alera Group has also acquired Dohrmann Insurance Agency Inc.
Arthur J. Gallagher & Co. announced the acquisition of Connecticut-based Merit Insurance Inc. Terms of the transaction were not disclosed.
HUB International Limited has acquired the assets of RiteHealth Solutions Inc. Terms of the transaction were not disclosed.
HUB International Limited also acquired The Insurance Exchange Inc. Terms of the transaction were not disclosed.
Consolidated Claims Group LLC (CCG) has acquired San Francisco-based Research Specialists Inc. (RSI), a pioneer in underwriting inspections. Following the acquisition, RSI will utilize CCG’s resources while continuing to leverage its current inspector base and operations teams.