Hilb Rogal & Hobbs Co. has recently acquired a brokerage and consulting firm and an insurance agency that both specialize in employee benefits. Baltimore-based Integrated Group Benefits is an employee benefits brokerage focusing on group health, life and disability insurance. Denver-based Talty Insurance Agency Inc. is an independent firm offering coverage for property-casualty and employee benefits clients, with a focus on community associations, small business and personal insurance. Terms of the transactions were not disclosed.
up Comp Broker
Risk Reducers LLC, a wholesale insurance broker specializing in workers' compensation, has been acquired by Atlanta-based wholesale insurance intermediary Swett & Crawford Group Inc. Risk Reducers, which is based in Little Rock, Ark., writes workers' comp and specialized property and casualty insurance for the transportation, manufacturing and contractor segments in the Midwest and Southeast. It will operate under the same name, as a division of Swett & Crawford.
>Alliance Group Bought
Beecher Carlson has acquired Phoenix-based independent insurance agency Alliance Insurance Group. The company serves as the MGA for a manufactured home park program and it also provides specialized programs for apartment owners, real estate developers, property managers, shopping centers and commercial transportation lines. It is comprised of Alliance Insurance Brokers, Spectrum Wholesale Insurance Services and AI Program Managers Inc.The company will operate under the same name under its current president and COO Frank Beranek.
>Investor Funds Beecher Growth
Atlanta-based Beecher Carlson has entered into an investment relationship with Old Lane, a global investment firm owned by Citigroup. Beecher Carlson will use the funding to further invest in specialized production and client service teams, technology and strategic acquisitions. An Old Lane spokesman said the brokerage was chosen for its "unique blend of large account expertise built around industry specialization, its geographic middle market footprint and its mix of technical and analytical capabilities." The amount of the investment was not disclosed.
>ACORD Partners With London
ACORD and the London Market Insurance Brokers' Committee have formed the ACORD Brokers Committee to increase communication with medium to small brokers in the London market. The committee, which will consist of 10 elected members and will meet quarterly, plans to support implementation of ACORD standards and coordinate the voice of London brokers.
>Brown & Brown Expands in N.J.
Brown & Brown Inc. has acquired the New Jersey-headquartered firm, LDP Consulting Group. LDP specializes in employee benefits, with a strong presence serving the school districts throughout the state. LDP will retain its staff and three offices, and will become a new freestanding Brown & Brown subsidiary.
--Compiled by staff from news and company releases.
March 1, 2008
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