P&C Company – PhiloSmith

Southern Trust Insurance Company and Southern Specialty Underwriters

Acted as exclusive financial advisor to Southern Trust Insurance Company and Southern Specialty Underwriters (collectively “Southern Trust”). Headquartered in Macon, GA, Southern Trust, a provider of reliable coverage across the Southeast for over 50 years, announced the signing of a definitive agreement for a partnership with Arbour National. The significant investment will support the continued growth of Southern Trust, reinforcing its commitment to independent agents and policyholders across the Southeast.

As part of the agreement, Southern Trust will continue to operate independently in Macon, GA, led by Mr. Cole, who will remain a significant shareholder and board member. Founder Billy Anderson, who started the organization 55 years ago, will also continue as a board member and shareholder ensuring continuity of the company's unique culture. Arbour National will become the majority owner of both Southern Trust Insurance Company and Southern Specialty Underwriters, with Cole and Anderson as key partners. To support continued expansion and hiring, at closing Arbour National will contribute an additional $20 million to Southern Trust's surplus.

Everett Cash Mutual Insurance Company

Acted as exclusive financial advisor to Everett Cash Mutual Insurance Company (ECM) in its acquisition of American Reliable Insurance Company’s Farm, Ranch and Equine business. American Reliable Insurance Company (ARIC) is a subsidiary of Global Indemnity Group LLC (GBLI), offering agricultural coverage through general and independent agents throughout the U.S. GBLI will receive approximately $85 million, including the release of capital currently supporting ARIC’s operations (over the course of the next 12 months). GBLI will receive $30 million for the sale of renewal rights and will receive an amount equal to surplus when ARIC is sold. Until ECM acquires American Reliable, ECM will be providing GBLI with 100% quota share reinsurance in respect of policies subject to the renewal rights agreement with ECM.

Granada Insurance Company and GIC Underwriters

Acted as exclusive financial advisor to Granada Insurance Company and GIC Underwriters in their sale to an Investor Group. Granada Insurance Company is a Florida domiciled underwriter and GIC Underwriters is a licensed surplus lines agency and managing general agent, offering a broad suite of commercial products (together, the “Companies”). The Companies specialize in underwriting and distributing selected commercial insurance products catered to a targeted network of retail agencies across Florida and the southern U.S., with unmatched expertise in the growing Hispanic market. With a 35-year track record, the Companies have built a strong reputation through their commercial non-property focus.

Auto-Owners Insurance

Acted as the exclusive financial adviser to Auto Owners Insurance in its acquisition of Capital Insurance Group. Capital Insurance Group is a leading regional property & casualty underwriter, insuring personal lines and a wide range of commercial and agricultural businesses in California, Washington, Oregon, Nevada and Arizona. Based in Lansing, MI, Auto-Owners is a Fortune 500 multi-line insurance company that is represented by over 47,500 licensed agents in 26 states. This acquisition will expand Auto-Owners’ geographic reach with a premier west coast platform.

Columbia Insurance Group

Acted as the exclusive financial advisor to Columbia Insurance Group (“CIG”) in its renewal rights sale of farmowners business to ECM Insurance Group. ECM Insurance Group, based in Everett, Pennsylvania, will acquire the renewal rights to all of CIG’s farmowners business. As part of the transaction, Missouri domiciled Citizens Mutual Insurance Company will merge into Everett Cash Mutual Insurance Company, the parent company of ECM Insurance Group. Columbia Insurance Group produced $15 million of farmowners related business in 2017.

Direct Auto Insurance Company

Acted as exclusive financial advisor to Direct Auto Insurance Company in its sale to NI Holdings, Inc. Headquartered in Chicago, IL, Direct Auto underwrites specialty automobile insurance in the state of Illinois through independent agents. NI Holdings, Inc. is an insurance holding company, which fully owns Nodak Insurance Company. Nodak’s acquisition of Direct Auto furthers its goal of diversifying its business and expanding its insurance operations. Joe Fitzgerald, the President of Direct Auto, and one of the principal shareholders will continue to manage the Direct Auto insurance operations.

Auto-Owners Insurance Company

Acted as as the exclusive advisor to Auto-Owners Insurance Company in its affiliation with the Concord General Mutual Insurance group of companies. Concord is a personal lines-focused property and casualty insurer that operates exclusively through independent agents in NH, VT, ME and MA. Based in Lansing, MI, Auto-Owners is a Fortune 500 multi-line insurance company that operates through almost 6,300 independent agents in 26 states. The affiliation will expand Auto-Owners’ geographic reach with a premier New England platform. Concord will be able to grow its commercial product offerings as a result of the affiliation, strengthening agency relationships and adding greater overall value as a result.

Strickland Insurance Group

Acted as the exclusive financial advisor to Strickland Insurance Group and its wholly-owned subsidiary Atlantic Casualty Insurance Company in their sale to Auto-Owners Insurance Group. Formed in 1983, Atlantic Casualty is a specialty property & casualty underwriter that primarily writes excess and surplus lines business through a network of MGA partners. The company operates in 48 states with offices in Goldsboro, NC; Scottsdale, AZ; Hartford, CT; and Philadelphia, PA. The management team, staff, and locations will remain as they position for growth and expansion of product offerings.

Florists' Mutual Insurance Company

Acted as the exclusive financial advisor to Florists’ Mutual Insurance Company in its affiliation with Sentry Insurance a Mutual Company. Florists’ Mutual, founded in 1887, is a niche specific mutual insurance company that guides and provides solutions for retail florists, garden centers, nurseries, landscape contractors, greenhouse growers, wholesale floral distributors and interior plantscapers. As a member of Sentry, Florists’ Mutual will maintain its name and brand and will continue doing business from its current headquarters in Edwardsville, IL.

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