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Broker Moves
Brown & Brown Beefs Up Daytona Beach, Fla.-based insurance broker Brown & Brown has recently completed acquisitions of two companies. Muirfield Insurance Inc., which is based in Lexington, Ky., is staffed by equine insurance specialists who focus on the thoroughbred industry. The Combined Group, a Carrollton, Texas-based group of companies that primarily operate as managing general agents, focuses on workers' comp opt-out insurance.
Bollinger Inc., a privately held insurance broker headquartered in Short Hills, N.J., acquired William J. Redmond & Associates of Freehold, N.J., an agency specializing in equipment maintenance insurance. Owner William Redmond is now a vice president in Bollinger's commercial lines division, serving middle-market clients. Aon Fires Up Specialist vehicle insurance broker Firebond, based in Cambridge, England, has been acquired by Aon Ltd., the London unit of Chicago-based insurance broker Aon Corp. This is Aon's second recent acquisition of an insurance brokering service specializing in classic cars, following the purchase of Footman James. Allied Helps Higginbotham Fort Worth, Texas-based middle-market insurance brokerage and risk management firm Higginbotham & Associates has been promised $93.4 million by Allied Capital Corp. to support its recapitalization. This investment in North Texas' leading property/casualty and employee-benefits broker is the latest venture in the insurance services sector by Allied Capital, the Washington, D.C.-based business development company. Hub's New Hub The Rigg Group Inc. will become Chicago-based insurance brokerage Hub International Ltd.'s new Texas hub. One of the largest Texas-based insurance brokers, Rigg focuses on property/casualty, employee benefits, executive risk management, and other products and services. The newly acquired operation will do business as Hub International Rigg from offices in Dallas, Forth Worth and Houston. --Compiled by staff from news and company releases. TOP 5 MOST READ SEPTEMBER STORIES: 1. Innovation: The Tortoise and the Hare 2. Rousmaniere: The 'IT' Thing in Comp 4. A Firestorm of Lawsuits Over Global Warming 5. Innovation: Gaining Acceptance October 1, 2007 Copyright 2007© LRP Publications |
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