UPFRONT
INTELLIGENCE CORPORATE ACQUIRER
TARGET
PRODUCTS COMMENTS
Alera Group
Duryea Agency
The purchase of New Jersey-based Duryea Agency adds two locations and strengthens Alera’s P&C market position
Amwins Group
Equisure
Amwins’ acquisition of the equine insurer further diversifies its specialty distribution portfolio
Gallagher
Willis Towers Watson
The deal includes Willis Re’s treaty and facultative reinsurance business, along with some UK specialty, European and North American brokerage operations
High Street Insurance Partners
Paladin Insurance Agency; Richardi-Demola Insurance Agency
Both agencies are based in New Jersey and offer business and personal insurance products
The Hilb Group
Benefit Foundations
The New Jersey-based benefits specialist will strengthen THG’s employee benefits capabilities in the Tri-State area
HUB International
Conover Insurance Services; Ion Insurance
HUB’s latest acquisitions include one of the largest insurance brokerages in the Pacific Northwest (Conover) and a Connecticut-based independent agency (Ion)
IMA Financial Group
Bolton & Company
The deal launches IMA into the top 20 insurance brokers in the US, based on 2020 figures
Sun Life
PinnacleCare International
The Canadian insurer has acquired US-based healthcare firm PinnacleCare for $85 million in a deal expected to close in mid-2021
CFC launches solution for transatlantic M&A deals
CFC Underwriting has expanded its suite of transaction liability products with a new solution designed to support North American companies purchasing a business in the UK or Europe. The new solution aims to fill a gap in the transatlantic M&A space by offering North American buyers the representations and warranties (R&W) coverage and processes they are familiar with. According to Adam Martin, transaction liability team leader at CFC, this solution can accommodate the “complexities and asymmetries” that often arise in transatlantic M&A processes.
Gallagher to acquire certain WTW assets
As part of a proposed regulatory remedy for the pending mega-merger between Aon and Willis Towers Watson, Gallagher has made a $3.57 billion deal to acquire some of WTW’s reinsurance, specialty and retail brokerage operations. The acquired operations include certain Willis Re treaty and facultative reinsurance brokerage operations, as well as some UK specialty, European and North American brokerage operations. Combined, the operations generated $1.3 billion of estimated pro forma revenue in 2020. “This acquisition will accelerate our long-term strategy by significantly expanding our global value proposition in reinsurance, broadening our retail brokerage footprint, and strengthening key niches and specialty brokerage offerings,” said Gallagher chairman, president and CEO J. Patrick Gallagher Jr.
8
First Indemnity unveils new product for law firms
First Indemnity Insurance Group, a specialty insurance agency catering to lawyers and law firms, has launched Excess Protect, a new professional liability product designed to help law firms that might be carrying inadequate coverage or are seeking higher limits. Designed for law firms with up to 750 attorneys, Excess Protect was created in response to shrinking capacity and higher rates in the professional liability market. The minimum attachment point for the product is $100,000, and limits of up to $10 million are available.
www.ibamag.com
08-09_Intelligence-SUBBED.indd 8
04/06/2021 4:31:32 am
