Aran Insurance Services Group Acquires Specialty Health-Care and Self-Storage Insurance Operations

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Aran Insurance Services Group, a provider of insurance and financial services based in Rockville Centre, N.Y., announced today its recent acquisition of Health Reinsurance Management Partnership (HRMP), a specialty health-care company based in Danvers, Mass., and MiniCo Insurance Agency, LLC, a Phoenix based provider of specialty insurance products and publications for the self-storage industry.

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This is the first in a series of strategic moves by which we will position Aran Insurance as a leading provider of specialty insurance and financial products.

Aran Insurance Services Group, a provider of insurance and financial services based in Rockville Centre, N.Y., announced today its recent acquisition of Health Reinsurance Management Partnership (HRMP), a specialty health-care company based in Danvers, Mass., and MiniCo Insurance Agency, LLC, a Phoenix-based provider of specialty insurance products and publications for the self-storage industry.

Both newly acquired companies will continue to do business under their current names and operate from their present locations. HRMP will focus on health specialty products and services. MiniCo Insurance Agency, LLC, will continue to support its commercial insurance and tenant insurance lines of business as well as continue to publish periodicals, annual information resources and other publications for self-storage professionals.

Tim Kenny, Executive Chairman of Aran Insurance Services Group, commented, "This is the first in a series of strategic moves by which we will position Aran Insurance as a leading provider of specialty insurance and financial products." Aran Insurance President and CEO John LaCava said, "These actions represent further steps toward our goal of building a suite of diversified insurance products that will serve the United States and Canadian markets."

HRMP and MiniCo Insurance customers will experience no change in their interactions with each company. The companies' locations, staff and service offerings will remain unchanged. Independent insurance agents, self-storage insureds, and tenant insurance customers will experience no change in their interactions with MiniCo Insurance Agency, LLC. Periodical subscriptions, publication sales and the publishing staff will also remain unchanged.

Aran Insurance Services Group is also pleased to announce the following executive appointments:

  • Tom Leonardo, CEO of HRMP. Mr. Leonardo will oversee all accident and health products and services and HRMP products and services and report directly to Mr. LaCava. His over 16 years of reinsurance and specialty accident and health insurance experience includes senior management positions with QBE the Americas, ACE Tempest Re (The ACE Group), and Cologne Life Re (now part of Berkshire Hathaway, Inc.).
  • Scott Eastland, MBA, FLMI, HIA, President of Aran Insurance Agency of Arizona. The newly created agency will provide medical stop-loss insurance to the self-insured market. Mr. Eastland has over 18 years of underwriting and management experience in the employee benefits industry including recent positions as Vice President, Western Region, for IOA Re, and Director of Underwriting and Strategic Planning for Bardon Insurance Group.
  • John I. (Jim) Mange, FSA, MAAA, President of HRMP. Mr. Mange joined HRMP in 1995 and will continue to lead the company's day-to-day operations and provide valuable support for Aran and HRMP clients. He has 30 years of insurance industry experience including previous positions with The Travelers Companies, Inc., (now part of UnitedHealth Group) and Connecticut General Life Insurance Company (now part of CIGNA).
  • Mike Schofield, President and CEO, MiniCo Insurance Agency, LLC. Mr. Schofield joined MiniCo in 2000 and most recently held the position of President, MiniCo Insurance. He will now assume the additional role of CEO reporting directly to Mr. LaCava.

About Aran Insurance Services Group
Aran Insurance Services Group is a multi-faceted company offering diversified insurance and financial services to the United States and Canadian markets. Aran specializes in both developing and acquiring insurance underwriting facilities, and offering specialty insurance products and services to the property casualty and accident health markets.

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Dan Sommer
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