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Va. Beach insurance company names president, VP
Zack Brandau, Will Russell promoted at Core Assurance
Virginia Beach-based insurance company Core Assurance Partners Inc. announced Tuesday that Zack Brandau has been named as president and Will Russell has been named as vice president. Brandau, a founding principal of the firm, will oversee the firm’s daily operations and growth initiatives. He succeeds Doug Russell, who had served as president since 2017. Brandau
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The Hilb Group makes third acquisition announcement of 2021
Henrico County insurance company buys Rampart Brokerage Corp. & Affiliates
Published
Henrico County-based insurance company The Hilb Group LLC made its third acquisition announcement of the year, with the purchase of Lake Success, New York-based Rampart Brokerage Corp. & Affiliates. Financial details of the acquisition were not disclosed. Founded 55 years ago, Rampart Brokerage Corp. and Affiliates (RBC) employs nearly 200 people and serves as a
Genworth notifies employees of job cuts
Eliminations come at heels of frozen acquisition by Oceanwide
Published
Henrico County-based Genworth Financial Inc. has notified some employees of job cuts, a company spokesperson confirmed Wednesday. The job cuts come on the heels of the company’s Jan. 4 announcement that its planned $2.7 billion acquisition by China-based Oceanwide Holdings Group Co. Ltd. has been frozen. Company spokesperson Julie Westermann declined to share the number
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$2.7B Genworth acquisition is on hold
Deal is frozen; Genworth looks to possible IPO of mortgage insurance business
Published
UPDATED JAN. 5 Henrico County-based Genworth Financial Inc.’s planned $2.7 billion acquisition by China-based Oceanwide Holdings Group Co. Ltd. has been frozen. In late November, the companies announced that Oceanwide’s acquisition of the Fortune 500 insurance company had been reapproved by China’s National Development and Reform Commission, and the acquisition, which has been frequently postponed
Hilb Group announces third December acquisition
Henrico County insurance company buys Plan Benefit Services Inc.
Published
In its third acquisition announcement this week, Henrico County-based insurance company The Hilb Group LLC (THG) has acquired Lexington County, South Carolina-based employee benefits consulting, management and brokerage firm Plan Benefit Services Inc. (PBSI), effective Dec. 1. Financial details of the acquisition were not disclosed. Founded in 1986, PBSI provides employee benefits, retiree benefits, individual
The Hilb Group makes second December acquisition
Henrico County insurance company acquires William H. Connolly & Co. LLC
Published
In its second acquisition announcement this week, Henrico County-based insurance company The Hilb Group LLC (THG) has acquired Montclair, New Jersey-based insurance and risk management brokerage William H. Connolly & Co. LLC (WHC), effective Dec. 1. Financial details of the acquisition were not disclosed. Founded in 1950 by William H. Connolly Sr., WHC was owned
Mutual Assurance Society of Va. names VP innovation, marketing
Mark Crutcher joins Richmond-based insurance company
Published
Richmond-based Mutual Assurance Society of Virginia announced Tuesday that it has named Mark Crutcher as its inaugural vice president of innovation and marketing. Crutcher most recently was a senior product manager with Safe Auto and had previously served as Lititz Mutual’s vice president of marketing, underwriting and product development. “Mutual Assurance’s goal is to embrace
Long-delayed Genworth acquisition postponed again
Acquisition by China-based Oceanwide Holdings Group delayed until Dec. 31
Published
Henrico-based Genworth Financial Inc. and China-based Oceanwide Holdings Group Co. Ltd. announced on Monday that Oceanside’s long-delayed $2.7 billion acquisition of Genworth has been reapproved by China’s National Development and Reform Commission, and the acquisition has been postponed until the end of December. With the Chinese government’s reapproval, Oceanwide will now move forward on the
The Hilb Group acquires Md.-based insurance company
Henrico County company makes 12th acquisition in 12 months
Published
Henrico County-based insurance company The Hilb Group LLC (THG) announced Tuesday it acquired Annapolis, Maryland-based Insurance Solutions (ISI), effective Oct. 1. Transaction details were not disclosed. This marks THG’s 12th acquisition within the past year. Founded in 1989, ISI is a full-service employee benefits agency specializing in health, dental, life and disability benefits. As part
Genworth’s $2.7B acquisition by Chinese company faces new hurdle
Oceanwide Holdings reaches capital agreement, but not all terms, conditions met
Published
Henrico County-based Genworth Financial Inc. announced Thursday that China-based Oceanwide Holdings Group Co. Ltd. has reached an agreement with Hony Capital on the commercial terms and conditions of its $1.8 billion offshore financing plan to complete its acquisition of Genworth. However, Oceanwide has not reached a final agreement on all terms and conditions due to