Acrisure Re hires Harvey from WTW to launch international fac unitExpansive reinsurance broker Acrisure Re has launched an international facultative unit led by Matthew Harvey after the executive was brought over from Willis Towers Watson.
Acrisure hires former McGriff exec Hodo to lead large relationships divisionFast-growing broker Acrisure has hired veteran industry executive Doug Hodo as director of a new large relationships division.
Acrisure Re hires Willis Re’s Sperrazza for Midwest and Southeast US P&C pushAcrisure Re – previously known as Beach & Associates – has hired Willis Re’s Paul Sperrazza as a senior vice president within its US reinsurance division as the company targets growth in the Midwest and Southeast US, The Insurer can reveal.
Acrisure on course for $1bn Ebitda by end of 2021Fresh from its $3.45bn capital raise last month, Acrisure is on an acquisition and organic growth trajectory that will likely lead it past Ebitda of $1bn by year-end as it continues to transform its business through technology, according to CEO Greg Williams.
Acrisure launches asset management division with former Gateway CEOAcrisure has continued to expand its platform with the launch of a new asset management division led by former Gateway CEO Patrick Rogers, further diversifying its portfolio and broadening its offering beyond insurance products and services, The Insurer can reveal.
Acrisure in $3.4bn fund raise led by BDT Capital PartnersRapidly growing insurance broker Acrisure has completed a significant capital raise with a BDT Capital Partners-led $3bn senior preferred stock transaction and a $454mn junior preferred investment by a separate consortium that values the firm at $17.5bn.
MMC commitment to de-levering and dividend should dispel unrealistic M&A rumourAs the Aon-Willis Towers Watson deal continues to grind through the regulatory approval process, there has been plenty of speculation about how the other member of the big three brokers will respond.
Acrisure JVs with Super Bowl champion and Grammy winner in minority-owned businesses driveGlobal broker Acrisure has teamed up with Seattle Seahawks quarterback Russell Wilson and his wife, Grammy Award-winning singer/songwriter Ciara, in a joint venture (JV) to focus on the insurance needs of minority-owned businesses and diverse communities across the US.
Acrisure’s rating remains stable following $700mn refinancingRatings agency Moody’s has maintained its stable outlook of fast-growing intermediary platform Acrisure as the firm confirmed plans to borrow $700mn under its senior secured term loan shortly after it brought its wholesale/reinsurance London broking units under one brand.
Acrisure unveils new brand and renames BeachFast-growing intermediary platform Acrisure has revealed a new tech-enabled brand and renamed Beach & Associates as Acrisure Re and Acrisure London Wholesale in a move it says reflects its intent to leverage its global reinsurance division and connect underwriting capital with large quantities of risk.
Leading from the frontSimon Hedley, president of Beach and CEO of Beach North America, an Acrisure Company, on how a blend of strong analytical and broking skills will help clients “find a way” during challenging times
Streaming now on The ReInsurer TV!It’s been another week of interviews with industry leaders at The ReInsurer as we tap into the important topics and events that are shaping the market in the run up to the 1.1 renewals.
TVCanadian carriers warrant “rational” reinsurance renewal: Beach’s TurnerCanadian insurers can expect to face a “rational” reinsurance renewal heading into 2021, with the market benefiting from plenty of capital and having avoided the soaring loss trends that have impacted carriers in the US, according to Beach’s Jeff Turner.
TVCollateralized challenges present opportunity “like no other” to rated reinsurers: Beach’s HontzRated reinsurers have an opportunity the likes of which has not seen in years at the upcoming renewals as clients turn away from the collateralized market over trapped capital and commutation concerns, according to Beach’s Clark Hontz.
Why reputation and relevance has never mattered more for our industrySo far, 2020 has been a year like no other – we are still navigating the effects of the global Covid pandemic, rates are hardening, and there has been a flurry of capital raising initiatives.
Beach Re hires Willis Re’s Berkstresser to launch Seattle unitAcrisure-owned Beach & Associates has hired Willis Re’s Warren Berkstresser as senior vice president of its US reinsurance division, Beach Re, where he will launch the broker’s operations in Seattle.
Acrisure buys Tulco’s AI insurance business to deploy insurtech at scaleFast growing intermediary platform Acrisure has bought artificial intelligence (AI) specialist Tulco’s insurance practice in a move it says will allow it to bring best-in-class data science, AI and machine learning capabilities to the insurance brokerage industry.
Beach continues build out of transportation unitAcrisure-owned Beach & Associates has added Chesterfield’s James Wells to its newly-launched transportation unit within its wholesale business.
Beach enters transportation market with Chesterfield’s WilliamsonAcrisure-owned Beach & Associates has hired Christopher Williamson from Chesterfield to launch a transportation unit within its wholesale business.
Beach predicts ‘above-average’ hurricane seasonAcrisure-owned Beach & Associates has added its voice to the consensus forecast of an “above-average” North Atlantic hurricane season, warning the cost of a 2020 landfall hurricane may be “considerably amplified” as a result of the coronavirus pandemic.