Broking

Liberty Company returns to acquisition trail with deal for Maryland-based Massabni

Liberty Company has acquired Maryland-based Massabni Insurance & Financial, a transaction that marks Liberty’s return to M&A after suspending deal activity last year.

Optis: North American agent/broker M&A down 27% in first nine months

The 168 North America agent and broker M&A deals in the third quarter was down 34 percent from Q3 2022 while activity in the first nine months was down 27 percent, according to Optis Partners, which suggested the private equity-led M&A bubble “is over”.

WTW: Insurers exercising greater underwriting discipline for new power assets

As new technologies and processes designed to facilitate the energy transition enter the power market, insurers are looking to consider this changing risk profile through more careful underwriting approaches, according to WTW’s 2023 Power Market Review.

Continued loss runs in power sector exacerbate insurers’ profit concerns: WTW

The power insurance market continues to grapple with the compounding impacts of geopolitical tensions and inflationary pressures on energy security and affordability, with enduring loss runs solidifying insurers’ concern over profitability, according to WTW’s latest Power Market Review.

Gallagher Re hires Miller’s Alexander to support retro and ILS production

Miller’s Robert Alexander is set to join Gallagher Re as managing director in early 2024.

BRP’s Baldwin expects “very rapid payback period” on Juniper Re launch

BRP CEO Trevor Baldwin has said he expects new reinsurance broking subsidiary Juniper Re to begin contributing to revenue “as early as the first quarter of 2024” and that it could be cash flow-positive in 2025.

Arch forms intangible assets division with former Aon IP liability team

Arch Insurance International has launched an intangible assets division following an agreement with Aon to acquire certain assets of the latter’s intellectual property liability MGA business.

NFP adds Zurich’s James as North American construction property broking leader

NFP has bolstered its construction practice with the hire of Tyler James from Zurich North America, with the recruit appointed property broking leader within the team.

CAC adds Lockton’s Ross as private equity practice COO

CAC Specialty has brought in Kenny Ross from Lockton as chief operating officer within its private equity practice.

Gallagher to buy NY-based Evans Agency from Evans Bancorp for $40mn

Arthur J Gallagher has signed a definitive agreement to acquire Williamsville, New York-based The Evans Agency from Evans Bancorp, marking Gallagher’s latest in a series of acquisitions of insurance agencies from banks.

Howden Tiger hires Bertagna to lead European MGA division

Howden Tiger has appointed market veteran Enrico Bertagna to lead its MGA division in Europe, in a move designed to position the intermediary as the go-to advisor for the MGA market on the continent.

Marsh McLennan promotes Potter to US and Canada CCO

Marsh McLennan has named Susan Potter chief commercial officer for the US and Canada.

Marsh to relocate John Donnelly to London for global head of placement role

Marsh has unveiled John Donnelly as its new global head of placement.

Alliant adds Gallagher’s Spears as SVP

Kansas City-based James Spears has joined Alliant as a senior vice president within its Americas division.

Novatae Risk Group appoints Von Breaux as COO

Novatae Risk Group has appointed Von Breaux as chief operating officer, with the new hire bringing 35 years of industry experience to the wholesale broking subsidiary of World Insurance Associates.

Gallagher builds in Ireland with Keaney acquisition

Arthur J Gallagher has continued the build-out of its footprint in Ireland with a deal to acquire Dublin-based Keaney Insurance Brokers.

Miller names Seccombe as Asian financial lines lead

Miller has continued its APAC expansion with the appointment of William Seccombe as head of its financial lines business in Asia.

Gallagher Re looks to grow into new segments as integration phase completes

Gallagher Re is set to enter the third year since the acquisition of Willis Re primed for further growth as it looks to take advantage of opportunities in existing segments and enter new areas where it has identified potential business prospects, Tom Wakefield has told The Insurer.

Roundtable: Macroeconomic conditions to press pause on major reinsurance broker M&A

The current macroeconomic environment with its heightened cost of capital and elevated interest rates will cause a pause in major (re)insurance broker M&A activity, with intermediaries instead increasingly focused on bringing in talent to strengthen their operations, a panel of industry executives believes.

Verlingue rebrands London market operation

UK broker Verlingue has rebranded specialist Lloyd’s and London market wholesale broker NBJ London Markets to Verlingue London Markets, with former Jensten Group MD Barry Reynolds named executive director of the unit.

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