Business Moves

National

Sompo Holdings Inc., Aspen Insurance Holdings Ltd.

Sompo Holdings Inc. received the necessary antitrust and insurance regulatory approvals required to complete its previously announced acquisition of Aspen Insurance Holdings Ltd., via a wholly owned subsidiary of Sompo International Holdings Ltd. (SIH).

Following closing, Sompo will begin the process of integrating Aspen’s capabilities to ensure a globally diversified property/casualty platform.

BayPine, Relation

Private equity firm Aquiline Capital has entered into a definitive agreement to sell independent insurance broker Relation to investment firm BayPine. Terms of the deal were not disclosed.

Founded in 2007, Relation provides risk management and benefits consulting services to deliver insurance solutions across commercial P/C, employee benefits, personal lines, private client services, retirement solutions, and wealth management to clients of all sizes across a range of industries such as construction, transportation, agriculture, entertainment, healthcare, manufacturing, hospitality, and real estate.

Since Aquiline’s initial investment in 2019, Relation has completed more than 100 acquisitions.

Boston-based BayPine said Relation’s management team will continue to lead the company.

East

SterlingRisk, ASZ International Inc.

Insurance broker SterlingRisk of Woodbury, New York, acquired ASZ International Inc., a Westchester County, New York, agency specializing in transportation risks.

As part of the transaction, ASZ principals Marc Zettl and Chris Zettl have joined SterlingRisk. Marc Zettl will serve as president of SterlingRisk’s Transportation Vertical, and Chris Zettl joins as account specialist, supporting the continued growth of the practice. The agency also sells personal and other business insurance.

ASZ International was advised by MidCap Advisors.

Arthur J. Gallagher & Co., B&W Insurance Agency Inc.

Arthur J. Gallagher & Co. announced the acquisition of Washington, Pennsylvania-based B&W Insurance Agency Inc. Terms of the transaction were not disclosed.

B&W Insurance Agency offers personal lines and commercial brokerage services to clients in southwest Pennsylvania. Paul Barzd III, Jim Cote, and their team will remain in their current location under the direction of Jen Tadin, head of Gallagher Select, its U.S. property/casualty operations for small businesses and personal insurance.

Arthur J. Gallagher & Co. is a global insurance brokerage, risk management, and consulting services firm headquartered in Rolling Meadows, Illinois. Gallagher operates in 130 countries through its owned operations and a network of correspondent brokers and consultants.

Southeast

Tapco Underwriters Rebrands as CRC Tapco

Tapco Underwriters, a North Carolina-based managing general agent, has new livery and a new name, 17 years after it was acquired by CRC Insurance Services. The MGA will now be known as CRC Tapco and will continue to focus on specialty and surplus lines, the Birmingham, Alabama-headquartered CRC Group said in a news release.

Tapco was launched in 1983. It was acquired by CRC in 2009 and continues to work as a wholesale broker with binding authority. CRC Group is one of the largest independent wholesale specialty insurance distributors, with some 6,000 associates in the U.S., Canada, and the U.K.

King Risk Partners, Hanc Group

Gainesville, Florida-based King Risk Partners has acquired the Hanc Group, an insurance agency that serves the Korean-American community and others in north Georgia, King Risk announced this week.

Rick Han, owner of Alpharetta-based Hanc Group, said the partnership will allow the agency to expand its personal and commercial insurance offerings. Hanc Group was formed in 2018. The agency is appointed with multiple carriers, including property/casualty, life, and accident and sickness, and offers home, auto, church, professional liability, and other lines.

Midwest

Specialty Program Group LLC, Logistiq Insurance Solutions

Specialty Program Group LLC (SPG), an operator of specialty insurance distribution, underwriting, and consulting businesses, announced the acquisition of Logistiq Insurance Solutions and the subsequent integration of Logistiq with Anova Marine Insurance, a firm acquired by Specialty Program Group in 2025. These new cargo and logistics capabilities will complement and enhance SPG Transportation’s position in marine cargo expertise.

Enstar Group Limited, Accident Fund Holdings

Enstar Group Limited, a global insurance and reinsurance group backed by investment vehicles managed by affiliates of global investment firm Sixth Street, announced it has entered into a definitive stock purchase agreement to acquire 100% of the shares of Accident Fund Holdings, Inc. (AF Group) from Blue Cross Blue Shield of Michigan.

Headquartered in Lansing, Michigan, AF Group has been a provider of insurance solutions through its affiliate brands for more than a century. It was acquired by Blue Cross in 1994. Upon completion of the transaction, AF Group will become a wholly owned subsidiary of Enstar and operate largely as a standalone company. AF Group is expected to operate under its existing leadership team.

South Central

Inszone Insurance Services, Scarbrough, Medlin & Associates

Inszone Insurance Services acquired Scarbrough, Medlin & Associates, Inc., a Dallas, Texas-based agency with more than four decades of experience serving commercial property clients.

Scarbrough, Medlin & Associates specializes in commercial property insurance, with deep experience supporting property management firms, association management companies, and multifamily and mixed-use developments. The firm also has a long history of servicing other complex commercial classes, including large school districts, electric cooperatives, oil and gas operations, contractors, and restaurants and bars.

The Scarbrough, Medlin & Associates team will remain in place.

Alliant Insurance Services, Laredo Commercial Insurance Agency

Alliant Insurance Services has acquired Laredo Commercial Insurance Agency’s For-Hire Trucking portfolio, establishing the firm’s local presence in Laredo, Texas.

As part of the acquisition, Steven Cadena has joined Alliant Transportation as Vice President.

Cadena brings extensive experience and understanding of the complex Laredo transportation market, strengthening the roster of strategic broker hires with regional expertise in cross-border transportation risk.

Laredo is the third Texas-based agency to join Alliant in recent months, following the acquisitions of McAfee Insurance Agency in Mercedes and Highpoint Insurance Group in Friendswood.