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TMCNet: Alliant Insurance Services to Acquire QBE US Agencies

[January 20, 2015]

Alliant Insurance Services to Acquire QBE US Agencies

Alliant Insurance Services, the nation's largest specialty insurance brokerage firm, has entered into an agreement to acquire QBE US Agencies, a family of three specialty-focused managing general agents (MGAs) serving the community association, transportation, and earthquake markets.

"This acquisition marks a significant milestone in the continued expansion of Alliant's MGA and program administrator business," said Tom Corbett, Chairman and CEO of Alliant. "QBE US Agencies' MGAs have a longstanding track record of targeted market expertise, proven carrier relationships, and strong growth prospects."

QBE US Agencies will join Alliant subsidiary Alliant Specialty Insurance Services (ASIS), the company's MGA and program administrator. Under the leadership of President Sean McConlogue, ASIS partners with an expansive network of retail agents across the country to distribute its various products to a broad base of middle-market clients.

The three MGAs of QBE US Agencies include:

  • Community Association Underwriters of America (CAU): Founded in 1989, CAU is one of the nation's largest insurance providers serving community associations, residential and office condominiums, cooperative apartments, and homeowners associations. CAU is headquartered in Newown, Pa. and offers property, casualty, fidelity, D&O, general liability, and ancillary products.
  • Deep South Insurance Services: Founded in 1967, Deep South specializes in the delivery of commercial insurance products to the transportation market. Headquartered in Irving, Texas, Deep South underwrites transportation business throughout the southeastern and southwestern United States. Product coverages include commercial auto, trucking, general liability, inland marine, crime, and commercial property.
  • SIU Managers: SIU Managers is a Glendale, Calif.-based MGA specializing in the earthquake/difference in conditions (DIC) market. Founded in 1999, SIU underwrites coverage for condominiums, commercial dwellings, and high-value dwellings throughout the United States.

"This partnership unlocks great growth potential for each of the QBE US Agencies MGAs and our long-tenured professionals," said Tracy Bowden, Head of QBE US Agencies. "Alliant's depth of resources, national reach, and sound underwriting infrastructure will enable us to provide an even higher level of service to the national network of producers and clients within our target markets."

According to QBE North America CEO Dave Duclos, the partnership will foster the expansion of the three MGAs and enhance their value proposition. "Alliant's reach and expertise will support the growth and expansion of these MGAs. QBE maintains a strong commitment to these programs and is excited to remain the major market for them as they provide quality products and services to their retail agent network and customers."

The executive leadership team of CAU, Deep South, and SIU will continue to operate the company under their existing names. In addition, the client services and business development teams of the three companies will remain in place. Terms of the acquisition were not disclosed.

About Alliant Insurance Services

Headquartered in Newport Beach, CA (News - Alert), Alliant Insurance Services, Inc. is one of the largest insurance brokerage firms in the United States and has a history dating back to 1925. Alliant provides property and casualty, workers' compensation, employee benefits, surety, and financial products and services to more than 26,000 clients nationwide, including public entities, tribal nations, healthcare, energy, law firms, real estate, construction, and other industry groups. More information is available on the company's web site at: www.alliant.com.

About QBE

QBE North America is part of QBE Insurance Group Limited, one of the largest insurers and reinsurers worldwide. QBE NA reported Gross Written Premiums in 2013 of $5.855 billion. QBE Insurance Group's 2013 results can be found at http://www.qbena.com/. Headquartered in Sydney, Australia, QBE operates out of 38 countries around the globe, with a presence in every key insurance market. The North America division, headquartered in New York, conducts business through its property and casualty insurance subsidiaries. QBE insurance companies are rated "A" (Excellent) by A.M. Best and "A+" by Standard & Poor's.

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