The parent company of Delta Dental of Virginia formed two private, for-profit specialty companies to develop and market technologies and customer service programs.
A specialty property-casualty insurance company, based in Richmond, Va., recently became certified to write business on a surplus lines basis for all U.S. states and Washington, D.C.
Houston’s HCC Insurance Holdings said Pioneer General Insurance Co. will merge into American Contractors Indemnity Co., both of which are wholly owned subsidiaries of HCC.
HCC Insurance Holdings is opening new Primary Casualty and Excess Casualty divisions, which company officials say should serve to extend its underwriting activities.
U.S. Risk Insurance Group, the eighth largest managing general agency and surplus line wholesaler in the nation, acquired American Special Risk Insurance Services to expand its California presence.
ACE Limited is buying Penn Millers Holding Corp. for $107 million in cash, adding a specialty niche that will complement its existing agricultural capabilities.
OneBeacon Insurance Group is selling its AutoOne unit to Interboro Holdings for an undisclosed amount so it can focus on its better performing specialty operations.
A Bermuda-based insurance holding company acquired Heartland Crop Insurance, a Topeka, Kan.-based managing general agent, as its builds its business into “shorter tail specialty lines.”
As a direct result of the Patient Protection and Affordable Care Act (PPACA) – also known as ObamaCare – health insurance agent and broker commissions have been slashed by as much as 50%. Agencies have been forced to lay off employees, limit products and services, shift to other lines, and have seen significant drops in compensation.