SOURCE: Alliant Insurance Services, Inc.

Alliant Insurance Services, Inc.

January 02, 2011 17:00 ET

Alliant Insurance Services Acquires T&H Group, a Large New York City-Based Insurance Brokerage Firm

Specializing in Surety, Construction, Real Estate, and Employee Benefits Brokerage, T&H Is One of the Largest Independent Brokerage Firms on the East Coast

NEWPORT BEACH, CA--(Marketwire - January 2, 2011) - Alliant Insurance Services (www.alliantinsurance.com), the nation's largest specialty insurance brokerage firm, has acquired New York city-based T&H Group, a leading regional full-service insurance brokerage firm that is one of the 40 largest commercial property and casualty and employee benefits brokerages in the U.S.

T&H Group, which operated as Tanenbaum-Harber Co. until changing its name in 2010, was established in 1860 and primarily targets upper middle market clients throughout the eastern region of the country.

Ranked by Business Insurance as the 33rd largest commercial property and casualty insurance broker in the U.S. and the nation's 9th largest benefits specialist, T&H Group delivers full-service insurance capabilities to a diverse set of clients through its operating subsidiaries that include T&H Brokers, T&H Benefits, RFF & Associates, and Construction Insurance Corporation and Surety Associates, Inc. (CIC/SA).

T&H Group has 242 employees in offices in nine states: New York, New Jersey, Connecticut, Massachusetts, Pennsylvania, Maryland, Illinois, Florida, and California.

In addition to its expertise in construction and real estate, T&H offers insurance brokerage capabilities for a wide range of other businesses and industries, including, but not limited to, financial services, healthcare, manufacturing, hospitality, not-for-profit, retailers/wholesalers, technology, transportation, and private equity.

T&H Group is headed by CEO Walter Harris, who will serve as Vice Chairman of Alliant and become a member of Alliant's senior management team. Harris has been with T&H for more than 30 years, and the business has been led by his family for over 40 years. Other key executive officers of T&H are Richard Ferrucci, who is a recognized leader in the surety and construction insurance industry with more than 40 years of experience, and Richard Fleder, who has 35 years of experience in the employee benefits industry and has served on the boards and advisory councils of numerous insurance carriers.

"The acquisition of such a well-established and highly respected insurance brokerage company as T&H Group represents tremendous opportunity for Alliant Insurance Services," stated Alliant Chairman and CEO Tom Corbett. "T&H and Alliant are great strategic, operational, and philosophical matches for each other on nearly every level of business, from diversity of services to the specialized industries we serve, to the size and type of clients we target, to our respective commitments to providing highly responsive, personalized service.

"T&H has strong client relationships with an average client retention rate of more than 95%, which is solid evidence of the company's ability to meet or exceed client needs and expectations," Corbett explained. "In addition, the highly experienced management team of T&H -- with senior executives averaging more than 25 years of industry experience -- will be a major asset in strengthening Alliant's service delivery platform in the Northeast U.S. and expanding all areas of our business."

According to T&H's Harris, the acquisition by Alliant makes "great business sense" for his company "since it provides T&H Group with greatly expanded resources, market relationships, and specialized services that will enhance the value we deliver to our clients."

"Alliant has become a fast-growing, nationwide force in the insurance brokerage industry by building a dynamic, streamlined organization that consistently delivers successful, cost-effective insurance and benefits solutions to its growing list of clients," Harris said.

"Alliant's tremendous depth of experience, nationwide client base, extensive market relationships, and commitment to cost-reducing service innovation will allow T&H to continue to meet the rapidly changing insurance and benefits needs of our clients," Harris continued. "With Alliant as our partner, T&H Group will be able to leverage our combined knowledge and expertise with improved market positioning to deliver better products and services at better costs than the competition."

Terms of the acquisition were not disclosed.

About Alliant Insurance Services

Headquartered in Newport Beach, Calif., 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 some 20,000 specialized 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.alliantinsurance.com.

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