Burns & Wilcox, a wholesale broker and underwriting manager, said Wednesday it is increasing its investment in North Carolina with the relocation and expansion of its Wilmington office.
The Wilmington office specializes in hard-to-place insurance coverage, including coastal risks, flood, commercial liability, commercial property, professional liability, environmental, commercial transportation and personal insurance, Farmington Hills, Michigan-based Burns & Wilcox, a unit of H.W. Kaufman Financial Group Co., said in a statement.
It also said it plans to add insurance professionals and capabilities to the office.
H.W. Kaufman Financial Group and Burns & Wilcox had $2.05 billion in 2016 revenue, and has more than 1,700 employees, according to a spokesman.
Runoff specialist Pro Global Insurance Solutions P.L.C. has set up a subsidiary in Rhode Island to offer insurers and reinsurers portfolio transfer services that take advantage of the state’s expanded runoff law.