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Market Moves


HRH completes purchase of Kansas agency

RICHMOND, Va.—Hilb Rogal & Hobbs Co. said it has completed the previously announced purchase of substantially all of the assets of Charlton Manley Inc., a Kansas-based independent agency.

Charlton Manley's 70-member staff in the offices in Lawrence, Overland Park and Topeka, Kan., will continue under the leadership of Chairman Gary L. Sollars and President Duane Becker and become part of Richmond, Va.-based HRH's central region, brokerage HRH said in a statement.

The purchase price was not disclosed.

Hanover to purchase professional liability insurer

GRAND RAPIDS, Mich.—Hanover Insurance Group Inc. said it has agreed to acquire Professional Direct Inc., a Grand Rapids, Mich.-based professional liability insurer for small and midsize law firms, for $23.2 million.

Worcester, Mass.-based Hanover said the purchase, which is subject to regulatory and Professional Direct shareholder approvals, is expected to close in the fourth quarter. Boards of both companies have already approved the acquisition, Hanover said in a statement.

UnitedHealth rebrands specialty division

MINNETONKA, Minn.—UnitedHealth Group Inc. has rebranded Specialized Care Services, its specialty and wellness division, as OptumHealth.

Dr. William Gillespie remains CEO of the renamed unit that includes specialty health and benefits companies United Behavioral Health, Optum, ACN Group, United Resource Networks, Spectera, Dental Benefit Providers, Unimerica Workplace Benefits and National Benefit Resources.

Rockhill acquires specialty insurer

KANSAS CITY, Mo.—Kansas City, Mo.-based Rockhill Holding Co. said it has acquired Plaza Insurance Co., which formerly was known as National Alliance Insurance Co.

PIC is domiciled in Missouri and writes specialty surety and specialty property/casualty coverage. The purchase price was not disclosed.

Kansas City, Mo.-based Rockhill also owns Rockhill Insurance Co.

AmWINS wraps acquisition; rebrands benefits unit

CHARLOTTE, N.C.—Wholesale brokerage AmWINS Group Inc. has completed the acquisition of Mobile, Ala.-based American Equity Underwriters Inc., an underwriter of U.S. maritime employer coverage.

The purchase was completed with a $432.5 million credit facility that also refinanced AmWINS' existing credit facilities, funded a $100 million dividend to shareholders and added "capacity and flexibility to fund new strategic acquisitions," Charlotte, N.C.-based AmWINS said in a statement.

Separately, AmWINS changed the name of its National Employee Benefit Cos. Inc. division to AmWINS Group Benefits. Warwick, R.I.-based AmWINS Group Benefits will roll out advertising and related marketing later this year under the tagline "There's a better way."

Tri-City Brokerage adds environmental unit

NEW YORK—Tri-City Brokerage has launched Tri-City Environmental, a wholesale brokerage focusing on liabilities of known and unknown environmental contamination affecting a variety of industries.

The team at New York-based Tri-City Environmental, also a division of BISYS Commercial Insurance Services Inc., includes insurers, attorneys, geologists and engineers, a spokeswoman said.

The environmental unit is led by Executive Vp Ken Cornell, who also is president of the Chicago-based National Brownfield Assn.

Willis puts new name on Singapore captive unit

SINGAPORE—London-based Willis Group Holdings Ltd. has renamed its Singapore captive management company.

Richard Oliver International Pte. Ltd has been renamed Willis Management (Singapore) Pte. Ltd., which Willis said is consistent with branding of its captive business worldwide under the Willis Group Captive Practice.

XL Insurance opens Houston regional office

HOUSTON—XL Capital Ltd.'s XL Insurance has opened a regional office in Houston focusing on marine and offshore energy businesses in the region. Regional Marine Manager Diana Gladwell is directing the office at 5847 San Felipe Plaza, 17th Floor, Houston, Texas, 77057. The phone is: 713-821-1400.

Anderson Kill & Olick moves Chicago office

CHICAGO—Anderson Kill & Olick P.C., a national law firm specializing in insurance disputes, has moved its Chicago office to a larger location.

The Chicago office of Anderson Kill & Olick (Illinois) P.C. now is at 190 S. LaSalle St., Suite 560, Chicago, Ill. 60603. Its main phone number is still 312-201-9516, the law firm said in a statement.

Best affirms ratings of Hawaii insurer

HONOLULU—A.M. Best Co. Inc. has affirmed the A- financial strength rating of Honolulu-based DTRIC Insurance Co. Ltd.

The Oldwick. N.J.-based rating agency said the ratings reflect DTRIC's stable capitalization, improved operating performance and conservative investment performance.

DTRIC, which specializes in personal lines and workers compensation insurance, said it plans to begin writing commercial lines coverage for midsize businesses later this year.

Joint venture targets sports, motorsports

SCOTTSDALE, Ariz.—Scottsdale Insurance Co. and K&K Insurance Group Inc. have formed a joint venture to write property and casualty business relating to sports and motorsports risks under National Casualty Co., Scottsdale's admitted insurer, starting Aug. 1. Scottsdale Insurance is owned by Nationwide Mutual Insurance Co. and K&K is a unit of Aon Corp.