INAMAR Buys California Boat & Yacht Insurance Business From O'Lexey

INAMAR Insurance Underwriting Agency, Inc. has acquired the marine business of O'Lexey Boat & Yacht Insurance Ltd. The O'Lexey agency, located in Newport Beach, CA, specializes in insurance for high performance boats, such as Scarabs, Cigarettes and Fountains. Terms of the acquisition were not released.

"We're very pleased to add this business to our INAMAR portfolio of specialty recreational marine products and services," said Robert Chapman, executive vice president of INAMAR Insurance Underwriting Agency, Inc., which also serves as the underwriting manager for CIGNA Recreational Marine. "John O'Lexey has spent more than four decades developing his business into a true force in the performance boat market. Now that he has decided to enter into a much-deserved retirement, we're looking forward to building on his efforts and catering even more broadly to the diverse insurance and service needs of agents and customers nationwide."