has affiliated with

Phenix Mutual Fire Insurance Company

Acted as exclusive financial advisor to Phenix Mutual in its affiliation with The Motorists Insurance Group.  Phenix is a 123-year old property and casualty insurer operating in New Hampshire, Maine, Vermont, Massachusetts, Rhode Island and South Carolina.  During 2008, Phenix posted $26.5 million in direct and assumed premium.  Motorists, which is headquartered in Ohio and writing business throughout the Midwest, had $541.3 million in policyholders’ surplus at the end of 2008 and was rated “A” (Excellent) by A.M. Best.

has acquired

Hanover Insurance Group

Acted as the exclusive financial advisor to The Hanover Group, Inc. in its acquisition of AIX Holdings, Inc. Windsor, CT-based AIX Holdings is a specialty property and casualty insurer that underwrites and manages program business, utilizing alternative risk transfer techniques.  AIX Holdings has developed general liability, workers’ compensation, property and auto liability programs for a range of well-defined, under-served markets where there are specialty coverage or risk management needs.

has been acquired by

Heath XS

Acted as the exclusive advisor to Heath XS, LLC in the sale of 80% of the outstanding membership’s interests in Heath XS, LLC and Hardscrabble Data Solutions, LLC to Hallmark Financial Services, Inc. for $15 million.  Heath XS is a New Jersey-based managing general underwriter producing approximately $50 million of excess commercial automobile and commercial umbrella risks on both an admitted and non-admitted basis through wholesalers throughout the United States. 

Sale to Republic Group

Retained by Four Corners to find a buyer with a strong interest in supporting the Company’s non-standard automobile expansion plans in the Southwest and others areas of the country. The sale of Four Corners was driven by the two principal owners’ desire for a well-capitalized partner. For Republic, Four Corners provides a proven track-record of profitable underwriting, a state-of-the-art policy management system, and bilingual servicing capabilities that will help it serve the growing Hispanic market. Republic also plans to leverage Four Corners’ capabilities to expand its non-standard writings in Louisiana, Mississippi and Arkansas in the near term.

has acquired

Republic Group

Served as exclusive financial advisor to Republic Companies, Inc. in its acquisition of Southern States General Agency, Inc. from Unitrin, Inc.  Southern States provides a complete selection of specialty commercial and personal lines property and casualty products through independent agents in Louisiana, Arkansas, Texas and Mississippi.

has been acquired by

Professionals Direct

Retained by Professionals Direct, Inc. to maximize the value and facilitate the sale.  Professionals Direct was sold to The Hanover Insurance Group for a cash purchase price of $23.2 million, which was a premium of over 200 percent of the stock price on the day we were retained.  Professionals Direct, Inc. is the holding company for a Professionals Direct Insurance Services and Professionals Direct Insurance Company.  Professionals Direct provides lawyers professionals liability insurance in more in 36 states through its various programs and through various independent producers.

Acquisition of Merastar Insurance Company

Facilitated transaction and acted as the exclusive advisor to Unitrin in its $45 million acquisition of Merastar Insurance Company.  Merastar was owned by Jack Byrne and specialized in personal automobile and homeowners’ insurance through employer-sponsored voluntary benefit programs.  Merastar wrote approximately $54 million in direct written premium in 2006. 

Sale to Transatlantic Holdings

Retained by Legion Insurance Company (In Liquidation) and the state of Pennsylvania to maximize the value of Professional Risk Management Services, Inc. (“PRMS”).  Facilitated sale of PRMS to Transatlantic Holdings, Inc. for a cash purchase price of $21 million.  PRMS is a leading insurance program manager in behavioral healthcare. PRMS is based in metropolitan Washington, DC and is a managing general agent specializing in professional liability insurance services and risk management for behavioral healthcare professionals.

Sale to NALICO General Agency

Acted as the exclusive advisor to Longhorn General Agency and Longhorn Insurance Services, Inc. in the sale of assets to NALICO General Agency, a subsidiary of NLASCO which owns National Lloyds Insurance Company. Longhorn General is a premier specialty managing general agency focused on offering property and casualty insurance products to manufactured housing, homeowners and dwelling risks throughout Texas and the Southwest.

has acquired certain assets of

 

Wilton Re

Advised Wilton Life Re and initiated its acquisition of Utica National Life Insurance Company, a subsidiary of Utica National Insurance Group. Utica Life’s business is primarily ordinary life insurance sold through independent agents. Wilton Life Re purchased the company with approximately $250 million in assets and $20 million in premiums. $33 million transaction.