Kaufman acquires premium financing firm
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H.W. Kaufman Group Inc. on Tuesday said it is acquiring Dallas-based premium financing company Stonemark Inc.
Terms of the deal were not disclosed.
Farmington Hills, Michigan-based Kaufman will merge its Royal Premium subsidiary with Stonemark to form a new organization under the Stonemark brand, according to a company statement. Kaufman owns several excess and surplus lines-related firms, including Burns & Wilcox.
Stonemark CEO Elizabeth Davies, whose family founded the company more than 30 years ago, will lead the combined organization as president, and Laura Tate, who was chief operating officer, will become chief administrative officer.
Stonemark will maintain the group’s associates at its current location in Dallas. The Royal Premium Detroit/Farmington Hills, Michigan, office will operate under the Stonemark name. Stonemark will also position premium financing specialists throughout more than 60 Kaufman and Burns & Wilcox offices, according to the statement.
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