Acquisitions

Zurich-based Lloyd’s coverholder Amboss Underwriting (Amboss) has assumed the downstream portfolio of Oilfield Insurance Agencies’ Zurich branch.

Aon has completed the acquisition of middle market property and casualty broker NFP from Madison Dearborn Partners and HPS Investment Partners.

Arthur J. Gallagher & Co., has announced its acquisition of Australia’s Prasidium Credit Insurance. Details of the transaction have not been disclosed.

Arch Insurance North America, a division of Arch Capital Group, is set to acquire Allianz Global Corporate & Specialty’s US MidCorp and Entertainment insurance businesses. 

Generali Investments Holding S.p.A. (GIH), a key player in the investment sector and a subsidiary of Generali Group, has announced the acquisition of Conning Holdings Limited (Conning), a prominent global asset manager.

Marsh McLennan Agency (MMA), a subsidiary of Marsh, has announced its plans to acquire two Louisiana-based middle-market agencies, Querbes & Nelson (Q&N) and Louisiana Companies, in a strategic move aimed at bolstering its regional presence.

Arthur J. Gallagher & Co. has announced the acquisition of Forest Insurance Facilities by its US wholesale brokerage, binding authority, and programmes division, Risk Placement Services, Inc. (RPS).

German insurtech Getsafe has successfully acquired deineStudienfinanzierung, a digital platform specialising in student loans.

Inszone Insurance has successfully acquired Jacque Pirtle Insurance, a well-established agency serving the Dallas/Fort Worth Metroplex for nearly three decades.

Hub has announced the acquisition of AP Group, a comprehensive insurance agency specialising in coverage for dentists, oral surgeons, physicians, business professionals, and associations. Terms of the transaction were not disclosed.

In a move aimed at broadening its footprint in the Canadian market, insurtech firm Accelerant has announced the acquisition of Omega Insurance Holdings, Inc. from Till Capital Ltd.

In a shocking revelation, PhilHealth, the state health insurer of the Philippines, fell prey to a cyber attack due to the absence of cyber protection software, sparking urgent calls for a comprehensive cybersecurity audit. 

Arthur J. Gallagher & Co. has successfully completed the acquisition of The Coverage Pro, a prominent retail insurance broker specialising in construction for both commercial and personal lines clients across the state.

In a significant move to bolster its market presence, Getsafe, the innovative neo-insurer based in Germany, has successfully secured an agreement to acquire the German customer base of French insurtech company Luko.

International specialist insurer Hiscox has entered into an agreement to sell DirectAsia, its business operations in Singapore and Thailand predominantly providing motor insurance, to boost Thailand Holdings Limited, the parent of the Roojai group of companies.

Leading British insurer Aviva has announced that it has reached an agreement to purchase the UK life insurance business of American International Group (AIG) for a substantial sum of £460 million (US$563 million).

Gallagher has revealed its plan to acquire Eastern Insurance Group, a subsidiary of Eastern Bank located in Natick, Massachusetts.

RiverStone International, the premier provider of legacy solutions in the Lloyd’s market, has inked a strategic agreement with members of the Catalina Group.

Howden-owned Aston Lark has announced the acquisition of Curtis Marine, a Plymouth-based marine insurance broker.

Marsh has announced its intent to acquire Honan Insurance Group, a distinguished insurance broker known for its proficiency in corporate risk, employee benefits, as well as strata and real estate insurance solutions.

Arthur J. Gallagher & Co has announced its latest acquisition of California-based Wigmore Insurance Agency, Inc.

Majesco, a global frontrunner in cloud insurance platform software, has declared the resounding success of its strategic acquisition of ClaimVantage in January 2021

Global reinsurer Hannover Re has showcased impressive growth in its H1 2023 financial results, recording a remarkable 3.9% surge in reinsurance revenue, which now stands at €12.3 billion.

Embedded insurance specialist, Cover Genius, has announced an exciting new partnership with Uber to offer enhanced protection for drivers in Brazil.

The State of Connecticut recently launched the Connecticut Baby Bond Trust with an initial deposit of $398 million, made possible in part by using a debt service reserve fund insurance policy from Build America Mutual (BAM).

DUAL, the prominent London-based managing general agent (MGA), has made a significant move by acquiring David Ashby Underwriting Ltd. (DAU), a specialised MGA focused on bloodstock and high-value sports horse insurance.

Ambac Financial Group, Inc. (NYSE: AMBC), a financial services holding company, has announced its acquisition of a majority stake in Riverton Insurance Agency Corp., a New Jersey-based insurance services business comprising a Managing General Agency (MGA) and a retail agency. The terms of the deal have not been disclosed.

NFP has finalised the purchase of FinTrust Insurance and Benefits’ employee benefits solutions business and Presidio Financial Services Corporation, marking the latest additions to its expanding portfolio of acquisitions.