Truist’s Insurance Holdings platform delivers 7.9% organic growth in Q4The insurance business of newly merged Truist Financial Corporation – which includes McGriff Insurance Services, CRC and Amrisc – reported organic growth of 7.9 percent in the fourth quarter and an adjusted Ebitda margin of 23.4.
Aon recruits BDC’s Weil as US health care vertical leaderAon has appointed Richard Weil (pictured), most recently director at BDC Advisors, as its new US health care vertical leader in its Chicago office.
Brown & Brown organic growth reaches 5.2% in “great” Q4Brown & Brown’s fourth quarter 2019 revenues increased by 5.2 percent year on year on an organic basis, with the company’s president and chief executive praising what he said was “a great” period for the US broker.
Hawksworth exits Willis Re for Guy CarpenterWillis Re’s Chicago branch manager Jim Hawksworth and his colleague Ben Davis have resigned to take roles at Guy Carpenter, The Insurer can reveal.
RSG premium volume up 35% in 2019 as E&S market boomsRyan Specialty Group added more than 500 new employees in 2019 to keep pace with the surge of business coming into the E&S market that sent its premium volume rocketing by 35 percent to $9.6bn, The Insurer can reveal.
LIIBA prioritises Brexit, climate crisis and market modernization in 2020Members body the London and International Insurance Brokers’ Association (LIIBA) has unveiled initiatives that seek to address post-Brexit trading, updated broker regulation, digitalisation and the role insurance should play in addressing the planet’s changing climate.
NFP grows revenues by 17% in 2019Expansive private equity-backed US broker NFP Corp increased revenues by 17 percent from $1.24bn to around $1.45bn last year as it grew organically and through acquisition.
AssuredPartners buys two Illinois brokeragesUS broker consolidator AssuredPartners has acquired two Illinois-based brokerages with combined revenues of $30mn.
New broker Protecdiv eyes $100mn revenue in five yearsSpecialty property and casualty brokerage Protecdiv is now open for business and targeting $100mn of revenue within the next five years, after the company secured financial backing for the new venture.
Acrisure revenues expected to top $2bn this yearFast-growing broker consolidator Acrisure is expected to exceed total revenue of $2bn for full-year 2020, according to S&P Global Ratings.
Brown & Brown buys Dallas-based MGA Texas All RiskBrown & Brown has acquired substantially all of the assets of Texas All Risk, a managing general agent that places a wide range of insurance in Texas, Louisiana, and Oklahoma.
NFP acquires Arizona P&C broker Koty-LeavittExpansive NFP has acquired Koty-Leavitt Insurance Agency, a Tucson, Arizona-based commercial property casualty broker that specialises in the medical device distribution space.
Lockton Re SVP Ford joins Willis Re defectorsAlex Ford, Lockton Re’s London-based casualty reinsurance specialist, has joined the James Moss-led team of defectors after resigning from the organisation earlier this week, The Insurer can reveal.
BMS builds ILS and E&S expertise with Kohonen hireBMS has hired Jani Kohonen as senior vice president and Atlanta branch manager, reporting into recently appointed president and CEO of BMS Re US, Pete Chandler.
London broker Paragon sale price leaps from £42mn to £70mnAustralian broking house PSC Insurance Group will now reach deeper into its pockets to reward the owner-manager shareholders of FI specialist Lloyd’s broker Paragon following a jump in 2019 profits during the earn-out phase.
Hyperion says staff shareholders will soon exceed a thousand as it launches “sustainability” driveUK-headquartered intermediary Hyperion has kickstarted a major new initiative focused around “sustainability” which it says cover everything from growing its own employee shareholder base and independence to new product classes.
Hyperion reports 11% organic growth at FY19Hyperion Group – the UK insurance intermediary backed by General Atlantic and CDPQ – continued its growth trajectory last year with organic growth of 11 percent, revenues climbing 17 percent to £725mn ($942mn) and an Ebitda margin of 25 percent for the year ending 30 September 2019.
Palmer-Brown heads new MGA BPB Underwriting ManagementLondon market veteran Jonathan Palmer-Brown is spearheading BPB Underwriting Management (BPBUM), the managing agency which launched this month with a new equine venture backed by MS Amlin.
PIB carves out exit path for specialty CEO SalisburyUK broker consolidator PIB Group has shifted specialty CEO Nigel Salisbury’s role to chief commercial officer, in a move that will allow him “to pursue interests outside of PIB within the next couple of years.”
2020 tipped to break record for US broker M&A dealsMarshBerry figures have revealed the number of announced US broker M&A deals in the past five years exceeded the number in the preceding 10 years, after a record deal count in 2019.