American Family Insurance

American Family Insurance | May 04, 2018

Florida-based insurer Main Street America Group plans to merge with American Family Insurance in a deal aimed at geographical and risk diversity along with increased sales, the companies said Friday. Under the merger plan, the combined equity of the companies would be $9 billion. Main Street America would operate as a stand-alone brand within American Family Insurance group, similar to The General and Homesite, two insurers acquired in 2012 and 2013, respectively, by American Family....

American Family Insurance | January 31, 2019

In a big win for insurance companies, the US Court of Appeals for the Sixth Circuit in Ohio has ruled that insurance agents of American Family Insurance (AmFam) are independent contractors and not employees. The ruling reversed an earlier lower court decision that classified agents as employees, making them eligible for pensions and other benefits under the Employee Retirement Income Security Act (ERISA). If the appeals court had upheld that ruling, American Family could have potentially been on...

Gallagher | January 13, 2020

The Caribbean insurance broker provides property/casualty, and employee benefits products and services to private, public, and multinational companies. Arthur J. Gallagher & Co. (Gallagher) has acquired a 60% stake in Risk Management Services (RMS), a Caribbean insurance broker, for an undisclosed price. Risk Management Services is based in Port of Spain, Trinidad and Tobago. It was established in 1978 as a subsidiary of the Neal & Massy Group with an objective to address the insurance a...

AXA XL | January 13, 2020

The activities surrounding the mega-merger of AXA and XL Group’s businesses are far from over. Today, AXA XL announced that it has now merged AXA Corporate Solutions (ACS) and AXA ART into XL Insurance Company SE (XLICSE). This move was a follow-on from the acquisition of XL Group by AXA that was completed all the way back in September 2018. The ACS, AXA ART, and XLICSE merger has been approved by regulatory authorities, including the Central Bank of Ireland and the Irish High Court, and t...