UPFRONT
INTELLIGENCE CORPORATE ACQUIRER
TARGET
PRODUCTS COMMENTS
AmWINS Group
Stealth Partner Group
MGA Stealth will merge with AmWINS Group company Stop Loss Insurance Services in 2020
C3 Risk & Insurance Services
Mission West Insurance
The deal expands C3’s footprint in Southern California; Mission West CEO Tony McIntosh will become C3’s Orange County managing director
Gallagher
LSG Insurance Partners
Michigan-based LSG offers employee benefits, commercial P&C, private client and M&A services and coverages
Holmes Murphy
Global Captive Management
GCM, which operates in the Cayman Islands, South Carolina and New Jersey, will continue to be led by founder Peter MacKay
H.W. Kaufman Group
Node International
Node is an MGA dedicated to digital, cyber and technology-related insurance and reinsurance solutions
JenCap Holdings
Aran Insurance Services Group
The acquisition, which includes flagship specialty program brand MiniCo, will further strengthen JenCap’s program underwriting division
Risk Strategies
Bedrick-Kaitz Agency
Based in New York, Bedrick-Kaitz is a boutique brokerage specializing in insurance for high-net-worth individuals and families
Tokio Marine Holdings
PURE Group of Insurance Companies
PURE focuses on the US high-net-worth segment and boasts in-force premiums worth $1 billion
AmTrust E&S launches excess casualty division
AmTrust subsidiary AmTrust E&S Insurance Services has opened a Los Angeles-based excess casualty underwriting division. Aimed at expanding AmTrust E&S’ product offerings, the new unit will write excess liability, both supported and unsupported, in all 50 states with limits of up to $25 million. Industries covered include manufacturing, contracting, habitational, hospitality, commercial real estate owners and operators, retail stores, and wholesale distributors. The team will be led by Jeff Lynn, who brings 15 years of experience in building and developing excess casualty business.
Tokio Marine acquires PURE Group
Tokio Marine Holdings is continuing its M&A streak, announcing in early October that it had reached an agreement to purchase Privilege Underwriters, which operates as PURE Group of Insurance Companies, from investors led by Stone Point Capital and KKR. The transaction is expected to close in the first quarter of 2020. PURE Group provides insurance solutions to the high-networth market in the US and has grown organically by more than 20% every year for the past 12 years, with in-force premiums of more than $1 billion. PURE’s specialty companies include PURE Risk Management, PURE Insurance Company, managing general underwriter PURE Programs and Haven Art Group, a fine art services and claims management company.
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The Hanover unveils new cyber product
The Hanover Insurance Group has rolled out a stand-alone, non-admitted cyber product for its commercial lines agents and their clients. The new Hanover Cyber Advantage Premier policy is written through The Hanover’s in-house excess & surplus brokerage, Hanover Specialty Insurance Brokers, and is designed to serve small and mid-sized businesses in a broad range of industries. “This new product builds on our strong existing cyber capabilities with a non-admitted solution that responds to the needs of the market and our agents,” said Hanover Specialty president Bryan Salvatore.
www.ibamag.com
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