A Leading Investment Firm Specializing
in Insurance and Financial Services Businesses

Most Recent     Prior to 2005

Utica Mutual Insurance Company – Acted as exclusive financial advisor to Utica Mutual in the planned purchase of Nationwide Holdings, Inc., the holding company for Founders Insurance Company of Des Plaines, Illinois. Founders has annual written premium of approximately $115 million in 47 states and the District of Columbia and specializes in writing non-standard automobile coverages, liquor liability and general liability coverages, and some other commercial coverages. Utica National employes 1,250 people at 11 locations around the country, including its home office in New Hartford, NY, seven regional offices and three claims offices. (3/10)

Geneva Insurance Company – Acted as exclusive financial advisor to Geneva Insurance in the planned sale of the Company to Trillium Management Services, Inc. Geneva provides personal automobile insurance with a concentration on the non-standard in suburban and rural areas of Indiana. The Company's policyholder surplus is approximately $2.5 million. (12/09)

Delta Lloyds Insurance Company of Houston, TX – Acted as exclusive financial advisor to Delta Lloyds in its agreement to a transaction in which Harleysville Mutual Insurance Company will assume Delta Lloyd's "Write Your Own" (WYO) flood business. Delta Lloyds, a participant in the WYO flood program since 1984, wrote approximately $13.5 million in direct WYO flood premiums in Texas in 2008. Based on flood premium alone, Delta Lloyds is the 23rd largest WYO flood carrier nationally and the seventh largest in Texas. Delta General Agency, through its more than 500 retail flood agents, will represent Harleysville in much the same way it represented Delta Lloyds. (10/09)

Phenix Mutual Fire Insurance Company – Acted as exclusive financial advisor to Phenix Mutual Fire Insurance Company in its planned affiliation with OH-based Motorists Insurance Group.  Phenix Mutual, which is based in Concord, NH, markets its personal and commercial P&C products in the Northeast and South Carolina.  In 2008, Phenix had direct and assumed written premium of $26.5 million and year-end surplus was $19.4 million. Through a pooling agreement with its affiliation partner, Phenix will share The Motorists Insurance Group’s rating A (Excellent) from A.M. Best.  With a broader product offering and capital support, Motorists believes Phenix will grow significantly in its markets in coming years. (4/09)

The Hanover Insurance Group, Inc. – Initiated transaction whereby The Hanover Insurance Group, Inc. acquired AIX Holdings, Inc.  AIX writes specialty P&C business through its wholly owned subsidiaries, NOVA Casualty Company and AIX Specialty Insurance Company.  $100 million transaction. (12/08)

Heath XS, LLC – Acted as the exclusive advisor to Heath XS, LLC in the sale of 80% of the outstanding membership's interests in Heath XS, LLC and Hardscrabble Data Solutions, LLC to Hallmark Financial Services, Inc. for $15 million. Heath XS is a NJ-based managing general underwriter producing approximately $50 million of excess commercial automobile and commercial umbrella risks on both an admitted and non-admitted basis through wholesalers throughout the United State. (9/08)

Four Corners Insurance Services, Inc. – Served as exclusive advisor in the sale of this general agency to Republic Companies, Inc.  Four Corners, based in Phoenix, Arizona, specializes in non-standard auto insurance coverages produced through independent agents in Arizona, Oklahoma, Oregon, Utah and Washington, D.C. (2/08)

State Auto Mutual Insurance Company – Served as exclusive advisor to State Auto Mutual in its affiliation with Patrons Mutual Group of Connecticut. Patrons Mutual markets its personal, commercial, farm and specialty insurance products through approximately 200 independent agents in CT, MA, RI and VT. In 2006, the group wrote $54 million of premium in year-end surplus of $23.7 million. (9/07)

Republic Group, Inc. – Served as exclusive financial advisor to Republic Companies, Inc. in its acquisition of Southern States General Agency, Inc. from Unitrin, Inc.  Southern States provides a complete selection of specialty commercial and personal lines property and casualty products through independent agents in Louisiana, Arkansas, Texas and Mississippi.  (7/07)

Professionals Direct, Inc. – Retained by Professionals Direct, Inc. to maximize the value and facilitate the sale.  Sold Company to The Hanover Insurance Group for a cash purchase price of $23.2 million, which was a premium of over 200 percent of the stock price on the day we were retained.  Professionals Direct, Inc. is the holding company for a Professionals Direct Insurance Services and Professionals Direct Insurance Company.  Professionals Direct provides lawyers professionals liability insurance in more in 36 states through its various programs and through various independent producers.  (6/07)

Capital City Holdings Company, Inc. - Acted as exclusive advisor to Capital City in its sale of all of its outstanding stock to North Pointe Holdings Corporation for $41 million. Capital City Holdings Company owns Capital City Insurance Company, a South Carolina property and casualty insurance company that specializes in workers compensation and other commercial specialty coverages for the forestry industry and other "main street" commercial risks. Capital City brings a network of 130 independent agents as well as two affiliates that serve as product distributors. (5/07)

Unitrin, Inc. - Facilitated transaction and acted as the exclusive advisor to Unitrin in its announced $45 million acquisition of Merastar Insurance Company. Merastar is owned by Jack Byrne and specializes in personal automobile and homeowners' insurance through employer-sponsored voluntary benefit programs. Merastar wrote approximately $54 million in direct written premium in 2006. (3/07)

Professional Risk Management Service, Inc. - Retained by Legion Insurance Company (In Liquidation) and the state of Pennsylvania to maximize the value of Professional Risk Management Services, Inc. ("PRMS"). Facilitated sale of PRMS to Transatlantic Holdings, Inc. for a cash purchase price of $21 million. PRMS is a leading insurance program manager in behavioral healthcare. PRMS is based in metropolitan Washington, DC and is a managing general agent specializing in professional liability insurance services and risk management for behavioral healthcare professionals. (3/07)

State Auto Mutual Insurance Company - Acted as the exclusive advisor to State Auto Mutual in its acquisition of Beacon Insurance Group. State Auto absorbed the assets and liabilities of Beacon, including its policies, operations, and office facility. Beacon generates approximately $50 million in direct written premium. The more than 300 independent agents of Beacon will allow State Auto to further its penetration of Arkansas and into Texas in both personal and commercial lines. (1/07)

Longhorn General Agency, Inc. - Acted as the exclusive advisor to Longhorn General Agency and Longhorn Insurance Services, Inc. in the sale of assets to NALICO General Agency, a subsidiary of NLASCO which owns National Lloyds Insurance Company. Longhorn General is a premier specialty managing general agency focused on offering property and casualty insurance products to manufactured housing, homeowners and dwelling risks throughout Texas and the Southwest. (11/06)

Wilton Re U.S. Holdings, Inc. - Served as the exclusive advisor to Wilton Re in its deal to acquire Utica National Life Insurance Company. Known as UticaLIFE, the Company is the life insurance affiliate of the Utica National Insurance Group and is owned by Utica Mutual Insurance Company. UticaLIFE had approximately 42,000 policyholders and annuity clients and a surplus account of $24.3 million at year-end 2005. Wilton Re is a professional life reinsurance company, providing traditional life reinsurance and insurance run-off solutions through its wholly- owned operating subsidiaries (10/06)

Texas General Agency - Served as the exclusive advisor to Texas General Agency in its $46.9 million sale to Hallmark Financial Services, Inc. TGA, based in San Antonio, TX, is a managing general agency involved in the marketing and servicing of property and casualty products, with a particular emphasis on commercial automobile and general liability risks. (11/05)

GMAC Insurance Holdings, Inc. - Served as exclusive financial advisor to GMAC Insurance Holdings, Inc. and its subsidiary Motors Insurance Corporation in its purchase of MEEMIC Insurance Company, a subsidiary of ProAssurance Corporation, for approximately $400 million. MEEMIC, which offers primarily auto and homeowners insurance to the education communities in Michigan and Wisconsin, provides GMAC an excellent growth platform in this profitable niche. (11/05)

HI Holdings, Inc. - Served as exclusive financial advisor to HI Holdings, Inc. in its sale to Kingsway Financial Services, Inc. (NYSE: KFS) for approximately $25 million. The sale of HI Holdings includes its wholly-owned subsidiary Zephyr Insurance Company. Zephyr is the leading provider of residential hurricane insurance coverage in the State of Hawaii and is projected to write $50 million in gross premiums in 2005. Zephyr's statutory surplus as of June 30, 2005 was $18.6 million. (9/05)