PRODUCTS
UPFRONT
INTELLIGENCE CORPORATE ACQUIRER
TARGET
PRODUCTS COMMENTS
Arthur J. Gallagher
Burns-Fazzi, Brock & Associates
BFB provides compensation consulting services specifically for credit union executives throughout the US
Arthur J. Gallagher
Integrated Healthcare Strategies
The healthcare HR organization has locations in both Kansas City, Missouri, and Minneapolis
Constellation
Arkansas Mutual
The medical professional liability insurance provider will become the third Constellation member company
Hub International Limited
The Holmes Organization
The Tulsa-based multiline property and casualty, employee benefits, and personal lines brokerage expands Hub’s Midwest presence
Integro
Kite Warren & Wilson
The UK-based firm specializes in marine hull and liability coverage and financial lines
Patriot National
Candid Investigation Services
Candid will become part of Patriot’s investigative services subsidiary, Contego Services Group
Risk Strategies
Northwest Comprehensive
The acquisition will strengthen Risk Strategies’ presence in the employee benefits space in Chicago.
Great American Insurance Group expands pollution capacity
Great American Insurance Group announced that it is expanding policy limits on its complete pollution product line. The new capacity will allow qualified risks to secure limits of $50 million per loss/$100 million policy aggregate limits of liability – some of the highest limits available in the environmental insurance marketplace. Great American’s environmental practice covers a variety of industries; products include premises environmental liability insurance, indoor air quality and mold liability insurance, contracting services environmental liability insurance and closure and post-closure financial assurance.
China’s Fosun International bids to take over Ironshore
Shanghai-based Fosun International made a move in May to take over US insurance company Ironshore. Fosun, which is controlled by Chinese billionaire Guo Guangchang, already owns a 20% stake in the property/casualty insurer and hopes to buy the remaining 80% for $1.8 billion. Fosun said the acquisition will bring “synergies for both parties in the prevention of currency risks, expansion of assets allocations and cooperation in reinsurance business.” Previously, the company – which is one of China’s largest and most aggressive private-sector acquirers – announced that the US insurance sector is a primary piece of its growth strategy. Fosun hopes to follow Warren Buffett’s strategy of taking an “insurance + investment” approach to business growth, allowing it to earn profit in both financials and assets.
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CNA launches new product liability coverage for life sciences
CNA Insurance has created a rare product liability policy for companies operating in the life sciences sector. The Life Sciences Products-Work Hazard policy is written in the admitted market and offers claims-made product liability coverage on a worldwide basis. With minimum premiums starting at $2,500, the CNA policy is available even to smaller risks. Limits of up to $10 million in the aggregate are available, and coverage can be expanded to include professional and technology liability on a combined, endorsed form.
www.ibamag.com
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