has acquired

Utica Mutual Insurance Company

Acted as exclusive financial advisor to Utica Mutual in the purchase of Nationwide Holdings, Inc., the holding company for Founders Insurance Company of Des Plaines, Illinois.  Founders has annual written premium of approximately $115 million in 47 states and the District of Columbia and specializes in writing non-standard automobile coverages, liquor liability and general liability coverages and some other commercial coverages.  Utica National employs 1,250 people at 11 locations around the country, including its home office in New Hartford, NY, seven regional offices and three claims offices.  

has been acquired by

Geneva Insurance Company

Acted as exclusive financial advisor to Geneva Insurance in the sale of the Company to Trillium Management Services, Inc.  Geneva provides personal automobile insurance with a concentration on the non-standard in suburban and rural areas of Indiana.  The Company’s policyholder surplus is approximately $2.5 million. 

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.

Affiliation with Patrons Mutual

Acted as the exclusive advisor to State Auto Mutual Insurance Company in its affiliation with Patrons Mutual.  Both organizations view the combination as a “win-win”.  State Auto will benefit from Patrons Mutual’s strong market relationships and underwriting expertise in the Northeast while Patrons Mutual will gain access to State Auto’s financial and operational resources, including an improved A.M. Best rating.  Through this affiliation, the organization plans to grow its commercial and personal lines business in the New England.  During 2007, Patrons Mutual generated approximately $50 million in direct written premium on year-end policyholder surplus of $22 million.

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.

Sale to North Pointe Holdings

Served as exclusive financial advisor to Capital City Holdings, Co. in its sale to North Pointe Holdings Corporation for $41 million.  The sale of Capital City Holdings includes its wholly-owned subsidiary Davis-Garvin Holdings, Inc.  Capital City specializes in workers compensation and other commercial specialty coverages for the forestry industry and other “main street” commercial risks.  Capital City wrote approximately $64 million in direct written premium and reported over $180 million in total assets in 2006.