has been acquired by
Greenberg Rhein & Margolis, Inc.
Acted as exclusive advisor to Greenberg Rhein & Margolis in its sale to Cross Insurance.
No press release has been issued for this transaction.
has agreed to be acquired by
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.
has acquired
Mogil Organization, LLC
Acted as exclusive financial advisor to Mogil Organization, LLC (Mogil) in its sale to World Insurance Associates (World). Headquartered in New York City, Mogil has offered corporate and personal insurance products to a wide range of businesses and families since 1957. Mogil also provides financial planning tools to clients.
has acquired
JTR Insurance Agency, Inc.
Acted as exclusive advisor to JTR Insurance Agency in its acquisition of Capital Sierra Insurance Services of El Dorado, California.
No press release has been issued for this transaction.
has been acquired by
Northeast Coverages, Inc.
Based in Garden City, NY, Northeast Coverages is a wholesale broker and MGA that writes business throughout the U.S. With access to a wide variety of markets, including both admitted and non-admitted companies, Northeast Coverages is an invaluable partner for its retail broker clients. PhiloSmith acted as Northeast Coverages’ financial advisor in the transaction.
has been acquired by
Venture Agency Holdings, Inc.
Acted as exclusive financial advisor to Venture Agency Holdings, Inc. (“Venture”) in its sale to Whitetail Insurance Services, LLC. Founded in 2013, Venture provides customized property and casualty insurance to Security Guards, Private Investigators and Alarm Contractors. Available exclusively to agency partners with deep industry knowledge, Venture offers the expertise, service and commitment that has made the company a preferred national partner. This allows Venture to have a deep understanding of the unique insurance needs of employers and their teams.
has been acquired by
C&M First Services, Inc
Acted as exclusive financial advisor to C&M First Services, Inc. (C&M) in its sale to One80 Intermediaries. Established in 1989 and based in New York City, C&M is a full-service brokerage firm that provides commercial and personal lines insurance to Asian American retail brokers throughout the United States. C&M is one of the largest Asian American owned insurance agencies in the United States. The firm provides innovative insurance solutions that are designed for clients with diverse backgrounds and unique requirements. The C&M team is multi-cultured and multi-lingual, ensuring brokers receive tailored solutions and market leading customer service.
have been acquired by
Smithwick & Mariners, MidCoast, and Chapman & Chapman
Acted as exclusive financial advisor to Smithwick & Mariners, Inc., MidCoast Insurance Agency, LLC, and IGWT, Inc. dba Chapman & Chapman Insurance (collectively, Smithwick & Mariners) in their sale to Brown & Brown, Inc. Originally founded in 1987 to service the marine industry (marinas, yacht clubs, boat builders, fishing vessels, tug operations and yachts), Smithwick & Mariners has evolved its capabilities to provide innovative risk solutions to business owners and individuals throughout Maine and greater New England. The Smithwick & Mariners companies are led by Scott Smithwick and Chris Smithwick. Following the acquisition, the Smithwick & Mariners team will continue doing business from their existing offices in Maine, Massachusetts and New Hampshire and will operate within Brown & Brown’s Retail segment. Scott and Chris will continue to lead the team and will report to Don McGowan, a regional president in Brown & Brown’s Retail segment.
has acquired
JTR Insurance Agency, Inc.
Acted as exclusive financial advisor to JTR Insurance Agency in its acquisition of Robert Lenoil Insurance Agency of Placerville, California.
No press release has been issued for this transaction.
has acquired
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.
