Posted on 18 Feb 2011
Houston International Insurance Group (HIIG) announced this week that it had reached an agreement to acquire Casualty & Surety, Inc. (CSI), a managing general underwriter located in Birmingham, Alabama with offices in various other locations. CSI specializes in underwriting small and medium size mining and energy risks, particularly coal and natural gas operations. This transaction is expected to close shortly.
CSI will be merged into the Engineered Risk Division (ERD) of Bunker Hill Underwriters (BHU), the underwriting agency subsidiary of HIIG. Specializing in all forms of heavy equipment operators and contractors, ERD has offices in Atlanta, Chicago and now
Stephen L. Way, Chairman and Chief Executive Officer of HIIG, said, "The acquisition of CSI will further expand BHU's Engineered Risk Division and senior executives Jimmy Godfrey and Rob Roberts are a welcome addition to the growing number of entrepreneurs in our management
Jim Godfrey, President of Casualty & Surety, Inc. said, “I am very happy to become a part of such a dynamic group of companies as HIIG. This combination will allow us to expand our product lines and offer admitted paper in most states, providing one stop shopping for our agents
and their clients.”
Bunker Hill Underwriters is an underwriting agency, based in Houston, Texas. BHU underwrites specialty programs on behalf of several non-affiliated and affiliated insurance companies. The affiliated insurance companies are all part of the HIIG Group and include Imperium Insurance Company, Houston Specialty Insurance Company and Great Midwest Insurance Company.
HIIG is an insurance holding company headquartered in Houston Texas, with more than $1billion in total assets; $625 million in investment assets; and almost $250 million shareholders’ equity.