Insurance Acquisitions in 2016

Seeman Holtz Property & Casualty, Inc. acquired National Insurance Solutions, Inc. (Chatsworth, CA) and JMD Insurance (Stuart, FL), bringing their sales, management and customer service teams into Seeman Holtz. The transactions expand Seeman Holtz's geographic footprint and client base in California and Florida and strengthen its commercial multi-family and personal lines capabilities.

Specialty Program Group (SPG), a holding company for specialty insurance brokers and underwriting facilities, has acquired the assets of Traverse City-based Global Marine Insurance Agency. Global Marine, a national brokerage focused on boats, yachts, marinas and commercial marine vessels, will join SPG’s specialty insurance platform; terms were not disclosed.

Hub International Limited acquired the assets of MDW Insurance Group, Inc., Agents Insurance Resources, Inc., and A.I.R. Insurance Marketing, Inc.; terms were not disclosed. The MDW businesses — based in Coral Gables and Plantation, Florida, and Los Angeles, California — will join Hub Southeast/Hub Florida and MDW leadership will join Hub’s regional team.

Arthur J. Gallagher & Co. acquired Regency Group, a wholesale insurance broker and program administrator based in East Lansing, Michigan. Regency — known for workers' compensation programs for independent retail brokers and niche specialty programs for landscaping, retail hardware and restaurants — will continue to operate from East Lansing under the direction of Risk Placement Services, Inc., a Gallagher subsidiary; terms were not disclosed.

San Francisco-based insurance broker Woodruff-Sawyer has acquired Neovia Integrated Insurance Services, a small Santa Barbara/Pasadena-area insurance agency. The deal adds employee benefits, property-casualty and management liability capabilities to Woodruff-Sawyer's Southern California footprint and positions the buyer for further regional growth.

Sandy Spring Insurance Corporation, a subsidiary of Sandy Spring Bancorp, has acquired The Advantage Group, Inc., an independent insurance agency based in Westminster, Maryland. The Advantage Group will continue operating under its current name (with eventual rebranding to Sandy Spring Insurance), and the acquisition expands Sandy Spring's capabilities—particularly contractor insurance expertise—and its geographic reach into Western Maryland.

Confie, a national insurance distribution company and portfolio company of ABRY Partners, acquired two New York-based brokerages — Lloyd D. Sprague & Son (Sprague Insurance) in Corning, NY and J.N. Mason Agency with locations in Hancock and Monticello, NY. The deals add local personal-lines and small commercial insurance operations (12 employees at Sprague; 8 at J.N. Mason) to Confie's platform as part of its ongoing roll-up strategy.

Prime Risk Partners Inc., a Thomas H. Lee Partners portfolio company, has completed its acquisition of Old National Insurance (ONI) including subsidiaries JWF Specialty Co. and Employee Plans, LLC. ONI will operate as ONI Risk Partners and maintain its local presence across Indiana, Kentucky and Illinois; the business has over 270 employees and will continue operating from current locations.

Cleveland-based Oswald Companies acquired The Hoffman Group, an Ohio insurance firm founded in 1919, effective June 1, 2016. Hoffman employees became employee-owners of Oswald and will operate out of Cleveland and Medina while continuing to serve clients in commercial property & casualty and personal insurance and expanding offerings via Oswald's broader services.

Confie, a national insurance distribution company and portfolio company of ABRY Partners, has acquired ExpressLink, Inc., a provider of auto dealer point-of-sale insurance programs and related products. The deal will expand Confie's product and territory offerings; ExpressLink's president Brian Murphy will remain in place and the companies said there will be no employee reductions or location changes.

Arthur J. Gallagher & Co. (Gallagher) acquired KRW Insurance Agency, Inc., a Crystal Lake, Illinois-based retail insurance broker. KRW, established in the 1940s, provides commercial property/casualty, risk management, employee benefits and personal lines with specializations in the construction and manufacturing industries; management will continue to operate under Gallagher's Midwest region.

Risk Strategies Company, a privately held national insurance brokerage, acquired Newport Beach-based OakBridge Advisors to strengthen its Employee Benefits practice and expand its presence in California. OakBridge founders Edward Kirkwood and Lawrence Hartley and their staff will remain with Risk Strategies and integrate with the firm's other California offices.

New York-based private equity firm Capital Z Partners Management, LLC acquired Portfolio Group, Inc., a Lake Forest, California–based provider of vehicle service contracts, GAP insurance and other F&I products, from Frontenac Company, LLC. Management will remain in place with significant ownership; terms were not disclosed.

Arthur J. Gallagher & Co. (AJG) acquired McNeary, Inc., a Charlotte-based retail insurance broker specializing in commercial property/casualty, risk management and employee benefits, effective May 2016. The acquisition expands Gallagher's southeastern U.S. presence and strengthens its property/casualty and employee benefits capabilities; terms were not disclosed.

The Hilb Group has acquired Clark-Mortenson Insurance, a New Hampshire–based insurance and financial services agency, effective April 1 with undisclosed terms. Clark-Mortenson (about 48 employees) will keep its name and local leadership while joining Hilb's platform to expand the buyer's presence in New England.

Marsh & McLennan Agency LLC (MMA) has acquired Corporate Consulting Services, Ltd. (CCS), a New York-based insurance brokerage and human resources consulting firm. CCS's 20 employees and $6 million in annual revenue will join MMA's Northeast region to bolster MMA's employee benefits capabilities.

USI Insurance Services has acquired Forrest Sherer Insurance, Inc., a Terre Haute, Indiana-based insurance agency, from First Financial Corporation. Forrest Sherer — which provides property-casualty, employee benefits and personal risk services and will keep staff in its Terre Haute and Evansville offices — becomes part of USI as the buyer expands its presence in Indiana; terms were not disclosed.

AssuredPartners, Inc. has acquired Bynum Insurance, a Sumter, South Carolina-based agency specializing in professional and personal insurance solutions. The 20-person agency will continue to operate under CEO Ed Bynum and will gain access to AssuredPartners’ resources and carrier relationships to support growth in South Carolina.

USI Insurance Services has acquired Hanratty & Associates, Inc., a Plymouth, Minnesota-based employee benefits and consulting firm. The deal expands USI's employee benefits footprint in Minnesota; terms were not disclosed and Hanratty's employees will remain at the Plymouth location.

Marsh & McLennan Agency LLC (MMA) has acquired Celedinas Insurance Group, a Palm Beach Gardens, Florida-based independent insurance agency that generates roughly $22 million in annual revenue. All 120 Celedinas employees and leadership, including CEO Ray Celedinas, will join MMA and continue operating under the Celedinas name as a Marsh & McLennan Agency company; terms were not disclosed.

The Hilb Group, a Richmond-based insurance agency and portfolio company of ABRY Partners, has acquired Hyannis, Massachusetts-based Dowling & O'Neil effective Feb. 1, 2016. Dowling & O'Neil's co-owners Rob Miller and Mark McCartin will continue to lead the 31-employee agency, which expands THG's New England footprint and adds expertise in high-net-worth personal lines and healthcare facility coverage.

Hub International Limited has acquired Equity Risk Partners, a San Francisco-based insurance brokerage specializing in property & casualty, employee benefits and executive liability solutions for private equity firms. Equity Risk will join Hub and serve as a platform to expand Hub’s insurance solutions for private equity clients globally; terms were not disclosed.

Bolton & Company, a large privately owned insurance broker headquartered in Pasadena, announced that Pasadena-based Polenzani Benefits, an employee benefits brokerage, has joined Bolton. Polenzani's staff will integrate into Bolton's Employee Benefits team, with Tom G. Polenzani becoming Director of Employee Benefits.

Hub International Limited acquired the assets of Raleigh-based RPG Solutions, Inc., a provider of employee benefits, HR services and training. RPG's founder Phil Gruber will join Hub Southeast and RPG's president Stacey Mangum will continue to report to him; terms were not disclosed.

Brown & Brown Insurance Services of California, a subsidiary of Brown & Brown, Inc., acquired certain assets of BayRisk Insurance Brokers, Inc., a California-based insurance agency. The asset purchase strengthens Brown & Brown's presence in California and adds BayRisk's specialty property & casualty programs (including mobile food vendor coverage) to Brown & Brown's offerings.

HUB International Limited has acquired the assets of Cowan Benefit Services, Inc., an employee benefits brokerage based in Brentwood, Tennessee; terms were not disclosed. Matt Cowan, CEO of Cowan, will join Hub Gulf South to support ongoing Tennessee operations and Hub’s regional growth plans in employee benefits.