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Genworth Financial acquisition delayed again
The long-delayed $2.7 billion acquisition of Henrico County-based Genworth Financial Inc. by China Oceanwide Holdings Group Co. Ltd. has been postponed again. The Virginia State Corporation Commission’s Bureau of Insurance reapproved the merger and the companies agreed to a 14th waiver and agreement to each party’s right to terminate the proposed agreement. The latest waiver […]
SCC offers health insurance tips for laid-off Virginians
The Virginia State Corporation Commission’s (SCC) Bureau of Insurance wants to remind Virginians that there are health insurance options available if they’ve recently been laid off or lost health insurance benefits through their employer. “Loss of a job doesn’t have to mean loss of health insurance coverage,” said Virginia Insurance Commissioner Scott A. White. “In [&hellip[...]
The Hilb Group acquires Ohio company
Henrico County-based insurance company The Hilb Group LLC (THG) announced Tuesday the acquisition of Cleveland, Ohio-based Healthcare Liability Consultants Agency Inc., effective March 1. THG also hired the Healthcare Liability Consultants owner owner and medical malpractice insurance specialist Julie Paton as a producer. Financial terms of the acquisition were not disclosed. Founded in 2009, THG [...]
The Hilb Group acquires Florida insurance agency
Henrico County-based insurance company The Hilb Group LLC (THG) announced Tuesday the acquisition of Bonita Springs, Florida-based Regency Insurance Group LLC (RIG), effective Feb. 1. Financial terms of the acquisition were not disclosed. RIG is a property and casualty agency that specializes in personal lines coverage including home, auto, flood and watercraft insurance. RIG co-founders […[...]
Virginia Beach-based Towne Insurance promotes executive leaders
Virginia Beach-based independent insurance agency Towne Insurance has promoted multiple executives in leadership positions. Towne Insurance CFO Boyd Griffin was promoted to executive vice president and will retain his duties as CFO. Chris Rogerson was appointed as chief operating officer. Rogerson joined the agency in 2017 as vice president and manager of the select business […]
The Hilb Group acquires Maryland insurance agency
Henrico County-based insurance company The Hilb Group LLC (THG) announced Wednesday the acquisition of Maryland-based Martens Johnson Insurance Agency Inc. The transaction that took effect Jan.1. Financial terms of the acquisition were not disclosed. Martens Johnson is a full-service insurance agency specializing in serving the commercial transportation industry. THG —a portfolio company of Wash[...]
The Hilb Group acquires New York brokerage
Henrico County-based insurance company The Hilb Group LLC (THG) acquired Brooklyn, New York City-based independent brokerage BR Vital Brokerage Inc. (BRV) in a transaction that took effect Jan.1, the company announced Tuesday. Financial terms of the acquisition were not disclosed. BRV specializes in property and casualty insurance for medical professionals. THG —a portfolio company of […]
Tysons insurance broker Ames & Gough promotes three execs
Ames & Gough Insurance Risk Management Inc. CEO Dan Knise will also serve as the chair of the Tysons-based insurance broker, which announced Tuesday that it was also promoting two senior executives to leadership positions. As chair and CEO, Knise will focus on the firm’s strategy and initiatives and will mentor new employees. He became […]
The Hilb Group acquires Rhode Island insurer
Henrico County-based insurance broker The Hilb Group LLC (THG) has acquired Rhode Island-based Wickford Insurance Agency Inc. (WIA) in a deal that closed on Dec. 1, THG announced Tuesday. Financial details of the deal were not disclosed. WIA is a property and casualty insurance agency and its associates will join THG’s Rhode Island operations under […]
Genworth extends Chinese acquisition to March
Henrico County-based Fortune 500 insurance company Genworth Financial Inc. has extended the timeline for its long-delayed $2.7 billion takeover by China Oceanwide Holdings Group Co. Ltd. until March 31, the company announced Monday, marking the 13th time the agreement has been extended. On Dec. 12, Genworth sold its majority stake in its Canadian mortgage insurance […]
Genworth completes $1.8B sale of Canadian unit
Henrico County-based Genworth Financial Inc. has completed the sale of the majority stake in its Canadian mortgage insurance company. The sale of Genworth MI Canada Inc. to Brookfield Business Partners is part of Genworth’s effort to clear the way for its long-delayed takeover by China Oceanwide Holdings Group Co. Ltd. Brookfield paid $48.86 Canadian dollars (CAD) […]
