M&A

Abry Partners closing in on deal for wholesaler Socius

Private equity firm Abry Partners is close to sealing a buy-in to California-based US wholesale broker Socius Insurance Services, The Insurer can reveal.

Hilb adds book of NJ and NY-based restaurants to ASIC program

US insurance broker The Hilb Group (THG) has acquired a book of quick-serve restaurant clients that between them operate over 100 locations in New Jersey and New York.

Heffernan’s Tangram buys residential care program specialist PCALIC

Heffernan Group’s Tangram Insurance Services has acquired residential care program manager Personal Care and Assisted Living Insurance Center (PCALIC).

MS Amlin launches US MGA-focused strategy with ITMA deal

Lloyd’s insurer MS Amlin has launched a new US MGA-focused strategy as it attempts to broaden its product base and balance the current volatility of catastrophe risk in its portfolio.

Porch readies HOA for national expansion push after acquisition completes

Home services-focused software platform Porch Group has completed its previously announced $100mn acquisition of Homeowners of America (HOA), with the MGA and insurance carrier hybrid now readying for a nationwide expansion drive.

Risk Strategies buys student health insurance broker/MGU SIS

Risk Strategies has acquired Specialty Insurance Solutions (SIS), a broker, consultant and managing general underwriter (MGU) focused on national student health programs.

AssuredPartners acquires real estate E&O agency Rice

Following soon after the acquisition of top 100 broker Fiorella Insurance Agency, AssuredPartners has bought Rice Insurance Services Company (RISC), a real estate E&O program specialist with $6mn in annualised revenues.

K2 acquires majority stake in Columbia Pacific Finance

K2 Insurance Services has acquired a majority stake in privately held premium finance firm Columbia Pacific Finance (CPF), a deal which the US program manager’s CEO Robert Kimmel said strengthens its mission “to become the premier specialty MGA”.

Clear Blue preparing for potential sale

Fast-growing fronting specialist Clear Blue is understood to have been talking to investment banks including Evercore and Piper Sandler as it prepares for a sale process that could see a valuation as high as $640mn as current owner Pine Brook looks to cash out of the business, The Insurer can reveal.

One80 bolsters cannabis capabilities with Cannasure deal

Wholesale consolidator platform One80 Intermediaries has added cannabis and hemp industry specialist Cannasure Insurance Services to its growing platform.

Accelerant buys US admitted carrier from Brit and launches UW and analysis platform

Expansive program underwriting platform Accelerant Holdings has bought admitted carrier Commonwealth Insurance Company of America (CICA) from Brit to add to its recently formed E&S subsidiary.

ISC looks to build $750mn-$1bn business by 2025 with KKR backing

Integrated Specialty Coverages (ISC) is aiming to sustain double digits organic growth rates and seek out “transformational” M&A transactions with the support of its new backer KKR as it looks to build a $750mn to $1bn premium volume business within the next three to four years, The Insurer can reveal.

KKR to acquire majority stake in insurtech MGA platform ISC

KKR is taking a majority interest in Integrated Specialty Coverages (ISC) with current owner Sightway Capital retaining a minority position in a recapitalisation that will allow the AI and data analytics-driven MGA platform to scale up and expand into new specialty insurance verticals, The Insurer can reveal.

McGowan strengthens LPL position with Couch Braunsdorf deal

The McGowan Companies has acquired the wholesale assets of Couch Braunsdorf Insurance Group (CBIG) in a deal that makes the enlarged entity one of the leading players in the US lawyers professional liability (LPL) market.

One80 expands into retail vehicle programs with New York MGU buy

Wholesale consolidator platform One80 Intermediaries has continued its acquisition spree with the purchase of Edward E Hall and Company (EE Hall), a New York-based MGU that specialises in P&C products designed for the retail vehicle industry.

Applied UW adds admitted carrier and positions TIC for E&S push

Applied Underwriters has added south central US admitted capabilities with the acquisition of Oklahoma Property and Casualty Insurance Company (OP&C), and repurposed its Texas Insurance Company (TIC) subsidiary as its national E&S platform.

One80 continues M&A drive with van Wagenen deal

Wholesale consolidator platform One80 Intermediaries has continued its recent run of M&A deals with the acquisition of Minnesota-based van Wagenen Financial Services.

Arch’s McNeil & Co acquires newspaper program specialist WGA

Arch Capital Group’s US program-focused subsidiary McNeil & Company has acquired newspaper industry insurance specialist Wilson Gregory Agency (WGA).

Applied Underwriters acquires US and Caribbean-focused pleasure craft MGA

Applied Underwriters has acquired UK-based MGA and Lloyd’s coverholder Concept Special Risks, a specialist in US and Caribbean yacht and pleasure craft coverage.

CRC adds federal employee professional liability MGU Feds

Expansive wholesaler CRC Group has continued on its recent acquisition path with a deal to buy Federal Employee Defense Services (Feds), an MGU specialising in professional liability coverage for federal government employees and contractors.