Acrisure granted modified TRO in lawsuit against six Woodruff hiresAcrisure has sued six executives that last month resigned to launch Woodruff Sawyer’s New York office, in a complaint stating that more than 20 customers have also departed, with a federal judge in Michigan granting a modified temporary restraining order after the case was removed from state court.
Acrisure rolls out final region as Midwest brought under Semotan’s leadershipAcrisure has formed its Midwest region under the leadership of managing partner Tina Semotan, marking its 11th and final region under the reorganisation it announced last year.
Acrisure launches Plunkett-led New England regionAcrisure has established its New England region, consolidating its operations in Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island and Vermont.
Acrisure launches new Southeast regionAcrisure has announced the launch of its Southeast region, covering its operations in eight states and led by partner Dave Hoover.
Acrisure launches new Riley led aerospace divisionAcrisure has launched a new division catering specifically to the aerospace industry. Acrisure Aerospace is led by managing partner Jason Riley, and comprises various Acrisure businesses.
Woodlands files confidential prospectus for ’24 JP Morgan, Morgan Stanley-led IPOTexas-based retail broker The Woodlands Financial Group has filed a confidential prospectus with the SEC for a JP Morgan- and Morgan Stanley-led IPO, firing the starting gunon a public listing that is expected to occur in the next six months, The Insurer can reveal.
Acrisure establishes Northwest region with latest rebrand launchAcrisure has announced the establishment of its Northwest region, covering its operations in Alaska, Colorado, Idaho, Montana, Oregon, Utah, Washington, and Wyoming.
Acrisure to issue $925mn senior notes to refinance debtAcrisure is issuing $925mn of five-year senior unsecured notes to refinance its existing senior unsecured notes due in 2025 as it was also disclosed that the firm grew revenues to $4.5bn in the 12 months to September 2023, up from $3.9bn in 2022.
Acrisure hires former HSCM Ventures co-head Jones for intl and global markets roleAcrisure has hired former HSCM Ventures partner Adrian Jones as chief of staff for international and global markets, The Insurer can reveal.
Acrisure establishes new Southwest region led by Patrick ThomasAcrisure has consolidated its operations in Southern California, Nevada, Arizona, and New Mexico into a new Southwest region unit that will collectively operate under the Acrisure brand.
Flux Syndicate 1985 to pre-empt by 50% in 2024The Acrisure-owned Flux syndicate will see its 2024 starting capacity increase by 50.1 percent in only its second year of operation, The Insurer can reveal.
Flux Syndicate 1985 replaces Vesttoo capacity as Beazley, Chaucer remain silentLloyd’s start-up syndicate Flux has cancelled and replaced its Vesttoo capacity with that from at least one A rated traditional carrier, but fellow Lime Street (re)insurers Beazley and Chaucer are remaining silent on whether they have done the same, The Insurer can reveal.
Acrisure acquires UK MGA Modus UnderwritingAcrisure has continued its run of MGA acquisitions with a deal for London-based Modus Underwriting, which underwrites a range of commercial and residential property along with excess flood and short-term ownership property policies.
Acrisure snaps up flagship position in M&G’s 40 LeadenhallAcrisure is to relocate its London headquarters to 40 Leadenhall, the M&G-owned development currently under construction in the City of London, in a move which highlights the expansive intermediary’s growth ambitions.
Lloyd’s start-up Flux in talks over Vesttoo reinsurance coverAcrisure’s 1.1 Lloyd’s start-up Flux and the Asta Managing Agency have the option to cancel the Vesttoo reinsurance supporting its fledgling Lloyd’s Syndicate 1985 but are not obliged to find replacement cover, The Insurer can reveal.
Acrisure names Green leader of south region as brand rollout continuesAcrisure has rebranded its local partners in its south region in a continuation of its global brand roll out, with long-time partner Lori Green appointed as managing partner for the region.
Acrisure’s Greg Williams expects brokerage M&A to slow; bullish on organic growthAcrisure CEO Greg Williams said at the S&P Global Ratings conference last week that he expects higher capital costs to slow the pace of consolidation in the brokerage segment, but was bullish on the sector over the fact that many macroeconomic dynamics that are headwinds to insureds are tailwinds to brokers.
Report: Acrisure interviewing banks ahead of potential IPO next yearAcrisure is interviewing banks for an initial public offering (IPO) that is expected to value the US broking consolidator at "well over $20bn", according to a report from Bloomberg citing people with knowledge of the matter.
Acrisure sets new platforms model in motion with Protection Group launchAcrisure has established Acrisure Protection Group dedicated to the needs of US-based auto dealers, marking the first example of a platform formed under its new integrated model announced last month.
Acrisure targets larger M&A including wholesale and MGAs as number of deals moderatesAcrisure has so far done around 30 deals this year but expects the number of transactions to potentially fall as it looks to larger acquisitions including targeting the build out of its wholesale and MGA platforms as well as its international presence, The Insurer can reveal.