By Warren S. Hersch
National Financial Partners Corp. New York (NYSE: NFP), has acquired and merged AGS Benefits Group LLC and the management company of Dreyfuss & Birke, Ltd., a wholly-owned subsidiary of NFP since 2003.
The combination establishes an NFP-branded corporate benefits presence in New York and will have annualized revenue of approximately $18 million. NFP says the transactions closed on January 3, 2012.
AGS Benefits, with annualized revenue of approximately $12 million, is a corporate benefits brokerage and consulting firm headquartered in New York City, with an office in Boston, and has been a member of the NFP Benefits Partners marketing organization since 2008. NFP Dreyfuss & Birke is an insurance brokerage and consulting firm based in New York City.
William Austin, Jordan Gray and Markum McCormick, managing directors of AGS Benefits, along with Paul Schnell, president of NFP Dreyfuss & Birke, will become managing directors, reporting to Ed O'Malley, president, NFP Corporate Client Group, NFP says.
CBIZ, Inc., Cleveland (NYSE: CBZ) has acquired Meridian Insurance Group, LLC of Boca Raton, Fla., effective January 1, 2012.
Founded in 2004, and with offices in Boca Raton, FL, and Atlanta, GA, Meridian is an southeast regional insurance broker specializing employee benefits
, property and casualty insurance and bonding, personal lines insurance and professional insurance services. The company is expected to contribute approximately $4.4 million in revenue to CBIZ during 2012, CBIZ says in a press statement.
CBIZ offers, among other services, employee benefits consulting, property and casualty insurance, retirement plan
consulting, payroll, life insurance
, HR consulting, and executive recruitment. The company also provides outsourced technology staffing and support services.
Genworth Life Insurance Company, Richmond, Va., has initiated a cash tender offer to purchase all of the issued and outstanding five series of RLIII INC Money Market Securities and one series of RLIII INC Term Securities with the MM Securities. Genworth says the offer is subject to certain conditions, including one specifying that “a minimum of $475 million aggregate face amount of [s]ecurities be validly tendered and not validly withdrawn pursuant to the [o]ffer.
Originally published on LifeHealthPro.com