Around the P&C insurance industry: May 18, 2022
News from BXS Insurance, NFP, Ryan Specialty and more.
BXS Insurance, Inc. acquired the assets of Wall 2 Wall Benefit Services, which is headquartered in Stafford, Texas, a city within the Houston metropolitan statistical area. Wall 2 Wall, founded by Rand Wall, provides insurance and employee benefit services throughout Texas. Wall 2 Wall’s employees will become part of BXSI’s Houston office.
NFP reorganized its business segments to better meet the dynamic needs of its clients. Three distinct, yet integrated, segments – Property and Casualty; Benefits and Life; and Wealth and Retirement – will allow the company to sharpen its focus on delivering holistic guidance to clients. Each business segment will continue to operate in the areas they know best to service specific challenges in highly complex environments. Continuing communication and collaboration across business segments will ensure the ongoing delivery of customized and comprehensive solutions.
Ryan Specialty announced an innovative solution to the challenging buffer layer auto liability excess market. AXSAL Re is a member-owned group captive managing general underwriter designed specifically for transportation companies or other insureds with large fleets. AXSAL Re is managed by Keystone Risk Partners, Ryan Specialty’s leader in Alternative Risk placements. AXSAL Re is distributed through insurance brokers and agents.
The Liberty Company Insurance Brokers partnered with Martinelli Benefits Advisors of Conshohocken, Pennsylvania. Led by Ernie Martinelli, the firm has roots in Pennsylvania, Delaware and New Jersey, evolving to serve a wide range of clients over nearly 40 years of operation. Specializing in employee benefits, retirement plans and medical plans, Martinelli and his team are creating value for workers as they strive for financial freedom.
The Liberty Company Insurance Brokers partnered with Shore Tompkins Actuarial Resources of Chicago, Illinois. Led by Neil M. Shore, ASA, EA, MAAA and Kathleen J. Tompkins, MSPA, EA, MAAA, Shore Tompkins is a leader in the design and administration of all major types of retirement and pension plans, including 401k, 403b and cash balance plans. Additionally, the firm offers consultations utilizing more than 50 years of combined experience, serving financial advisors and plan sponsors in need of clarification, perspective and guidance.
The Liberty Company Insurance Brokers partnered with Roger Smith Insurance Agency of Tiffin, Ohio. Founded in 1987 by Roger Smith and currently led by his son, Kyle Smith, the firm offers personal, commercial, life, annuities and health insurance to clients across the region. Kyle Smith also remains active in the community, supporting local schools and universities, the American Cancer Society, Habitat for Humanity, Shop with a Cop, area youth sports teams and many other worthy causes.
BMS announced it has commenced operations in New Zealand, with the establishment of BMS Risk Solutions Ltd. BMSRS is an independent, New Zealand owned and operated extension of BMS Group and has been established by highly experienced industry leaders Storm McVay, Paul Meehan and David Gibbons.
Alera Group acquired The Beck Agency, an insurance agency based in Alpharetta, Georgia. The Beck Agency has been meeting the personal and commercial insurance needs of clients throughout Georgia since 1997. They offer key personal insurance at competitive rates for home, auto, boat and watercraft and motorcycle coverage needs, as well as commercial insurance.
Assurex Global elected Houchens Insurance Group in Bowling Green, Kentucky as partner. The addition of Houchens is part of Assurex Global’s ongoing strategy to add multiple partner firms in 2022 as it continues to grow and enhance its offerings. Partner firms must meet stringent selection standards so clients know they’re working with the best when choosing an Assurex Global Partner.
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