Gallagher acquires two companies

ITASCA, Ill.—Arthur J. Gallagher & Co. has acquired Bankers Financial Benefits of Oklahoma City and Splinter Group Inc. of Park Ridge, Ill.

Terms of the agreements were not disclosed.

Bankers Financial Benefits is an employee benefits consultant and brokerage that specializes in the banking and manufacturing industries. It will continue operating at its Oklahoma City location.

Splinter Group is a retail broker offering risk management, employee benefits and commercial property/casualty services. It will relocate to Gallagher's headquarters in Itasca, Ill., Gallagher said.

Smith Lanier & Co. purchases Insuramerica

LOGANVILLE, Ga.—Smith Lanier & Co. has acquired Loganville, Ga.-based Insuramerica Aviation Inc. Terms of the agreement were not disclosed.

Insuramerica will be a subsidiary of the 140-year-old brokerage and will retain its name, employees and location, West Point, Ga.-based Smith Lanier said.

Global Risk Holdings purchases Florida TPA

MAITLAND, Fla.—Global Risk Holdings and management members of Maitland, Fla.-based North American Risk Services Inc. have purchased all outstanding shares of NARS from Clarendon National Insurance Co.

NARS provides property/casualty third-party administration services. Raleigh, N.C.-based GRH is a consortium of insurance management companies specializing in providing services to insurers, brokers, self-insureds and associations.

Executives obtain majority ownership

STERLING HEIGHTS, Mich.—Longtime executives Daniel Gorczyca and Louis Lapiana have acquired a majority stake in U.S. Health Holdings Ltd. of Sterling Heights, Mich.

Mr. Gorczyca is president and Mr. Lapiana is executive vp of Automated Benefit Services Inc. and U.S. Health & Life Insurance Co., both units of U.S. Health Holdings.

U.S. Health Holdings administers benefits for employers and municipalities, provides actuarial services, and invests in technology and health insurance industry advances.

U.S. Re Cos. moves headquarters

PEARL RIVER, N.Y.—U.S. Re Cos. Inc. has moved its headquarters from Manhattan to Pearl River, N.Y. The company said the new location will house its executive offices and operational and support services, including technology and actuarial services.

The financial services and reinsurance brokerage's address is One Blue Hill Plaza, third floor, P.O. Box 1574, Pearl River, N.Y. Telephone: 845-920-7100; fax: 845-920-7160.

N.J. insurance exchange to buy National Atlantic

FREEHOLD, N.J.—National Atlantic Holdings Corp. said it has agreed to be acquired by a subsidiary of Palisades Safety & Insurance Assn., a New Jersey-licensed insurance exchange.

Palisades Safety has agreed to pay $6.25 in cash for the outstanding common stock of National Atlantic, a Freehold, N.J.-based property and casualty insurer.

The deal, expected to close in the third quarter, is subject to the approval of National Atlantic's shareholders.

New York signs pact for emergency training

NEW YORK—The New York City Office of Emergency Management has signed a contract with the simulation division of Environmental Tectonics Corp., which makes and installs equipment for the aerospace and biomedical industries, to design an advanced disaster management simulator training system.

The contract calls for the Orlando, Fla.-based simulation division of Environmental Tectonics to develop a turnkey, multidiscipline team-training system and a comprehensive library of customized training scenarios, post-event reviews and evaluations.

The training system will become part of New York's citywide incident management system, according to an Electronic Tectonics statement.

Aon gets approval to add to China branches

CHENGDU, China—The China Insurance Regulatory Commission has approved a proposal by Aon-Cofco Insurance Brokers Co. Ltd. to set up a branch in Chengdu, the capital of China's Sichuan province.

Aon-Cofco is a Shanghai-based 50-50 joint venture of Chicago-based Aon Corp. and Cofco Ltd., an oil and food importer and exporter.

The latest approval adds to existing Aon branches in Beijing, Nanjing and Guangzhou, China.