Kaufman Financial Group Announces Purchase of Chesterfield Group, Ltd

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(FARMINGTON HILLS, MICHIGAN) – January 27, 2012 – The H.W. Kaufman Financial Group, parent company of wholesale broker and underwriting manager Burns & Wilcox, announced its purchase of Chesterfield Group, Ltd., a London-based insurance broker and underwriting organization with companies in the UK, USA, and Canada. The acquisition expands Kaufman Financial Group’s international insurance presence in the specialty insurance marketplace.

Alan Jay Kaufman, President, Chairman and CEO of Kaufman Financial Group, said, “the acquisition of the Chesterfield Group is an important addition to the Kaufman Financial Group and will act as a vehicle to expand our international presence and leverage our strength worldwide.”

“Chesterfield was attractive to our organization due to their entrepreneurial spirit and drive along with their strong relationships in the London market and beyond.” Kaufman added.

Chesterfield Group, Ltd.’s principal operating company is Chesterfield Insurance Brokers, Ltd. Domiciled in the United Kingdom, the company is the group’s Lloyd’s of London broker. James Stevenson, managing director of Chesterfield, said, “the cultural similarities of the two groups combined with an excellent strategic fit in the USA, Canada and London will enable our combined business to offer a greater depth of products to our clients and producing brokers worldwide. It also extends Chesterfield’s reach and strengthens our relationship with Lloyd’s and London insurers.”

The acquisition also included Chesterfield Canada, Inc., a Canadian-based wholesale broker focused on specialty commercial risks. This marks Kaufman Financial Group’s entry into the Canadian marketplace.

The Canadian offices, which are located in Toronto and Ottawa, will operate under the name of Kaufman Financial Group’s largest subsidiary, Burns & Wilcox.

Also included in the acquired group of companies is Van Wagoner Companies, Inc., one of the oldest Managing General Agents in the United States. Based in Dallas, Texas, Van Wagoner Companies provides specialty insurance solutions to retail brokers and agents. It will now operate as Burns & Wilcox.

The acquisition brings more than 60 people to the Kaufman Financial Group team, including senior management who will remain in their current leadership positions.

In the past few years, Kaufman Financial Group has acquired multiple insurance-related entities in the United States. The Chesterfield Group acquisition is a significant milestone in expanding Kaufman Financial Group’s operations worldwide.

About Kaufman Financial Group and Burns & Wilcox

The H.W. Kaufman Financial Group is the parent company of Burns & Wilcox, the largest privately-held wholesale broker and underwriting manager. Burns & Wilcox has more than 40 offices across the United States, Canada and London and employs more than 1,000 professionals . Founded in 1969 and headquartered in Farmington Hills, Michigan, Burns & Wilcox is internationally recognized for its insurance brokerage and underwriting expertise in commercial and professional liability, property, marine, and personal insurance.
The Kaufman Financial Group companies can meet all the needs of broker and agent clients. The Kaufman Financial Group includes Burns & Wilcox, Burns & Wilcox Brokerage, Burns & Wilcox Re, and R.B. Jones. It also encompasses Royal Premium, a premium financing company; US-Reports, an inspections, audits, and risk-management company; and Minuteman Adjusters.

More information can be found at http://www.burnsandwilcox.com and http://www.kaufmanfinancialgroup.com.