Broking/Distribution
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NewsBiba names Aon’s Kielty as deputy chair
The British Insurance Brokers’ Association (Biba) has named Jane Kielty, chief commercial officer at Aon, as its next deputy chair.
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News
LuckyTruck launches motor truck cargo product with Great American
LuckyTruck, a tech-enabled retail agent focused exclusively on trucking, has partnered with Great American Insurance Group to launch a fully digital motor truck cargo (MTC) product.
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News
MMA expands Northwest presence with MZI acquisition
Marsh McLennan Agency (MMA), the middle market subsidiary of broking giant Marsh, has acquired McDonald Zaring Insurance (MZI), a full-service agency located in Walla Walla, Washington.
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News
Choice makes 11th acquisition since PE investment with MIS deal
Choice Financial Group has entered West Virginia with the acquisition of Mountaineer Insurance Services (MIS), its 11th buy since partnering with Northlane Capital Partners in October 2021.
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WTW hires Marsh veteran Sallada as head of NA casualty
WTW has recruited long serving Marsh executive James Sallada to serve as its new head of casualty in North America, The Insurer can reveal.
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Fitzgerald set for WIA leadership role after QBE exit
QBE North America’s president of commercial insurance Tom Fitzgerald is leaving the carrier with sources linking the executive with a move to head up retail operations at fast-growing World Insurance Associates (WIA), The Insurer can reveal.
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Newfront lands Marsh’s central zone leader Newell
Tech-driven brokerage firm Newfront has hired Marsh veteran John Newell as its chief commercial officer as it continues to build out its platform in the US.
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Hilb acquires PA-based P&C agency Sharpline
Carlyle Group-backed The Hilb Group has acquired Pennsylvania-based Sharpline Insurance Brokerages, a deal that expands the broker consolidator’s property casualty presence throughout the Mid-Atlantic.
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KKR acquires majority stake in CVC’s French broker April
Private equity giant KKR has acquired a majority stake in French insurance broker April Group from CVC Capital Partners.
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PIB snaps up Jigsaw Group in £24mn deal
Private equity-backed broker consolidator PIB Group has continued its recent run of M&A with an agreement to buy The Jigsaw Group, in a deal valuing the company at up to £24.1mn ($28.6mn).
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Ardonagh inks A$482mn deal for Australian broker Envest
The Ardonagh Group has agreed a deal to acquire Brisbane-headquartered Envest for a consideration of A$482mn ($321mn), with the transaction set to be funded with a combination of equity and debt.
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News
Risk Strategies gets bigger in Texas with dental deal
Risk Strategies has grown its footprint in Texas with the acquisition of dental industry-focused broker Wallace Specialty Insurance Group.
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News
Miller Re’s 2021 turnover slumps 62% as it cites Covid cost
Broker Miller saw turnover in its reinsurance arm decrease 62 percent in the year ended 31 December 2021 as the impact of Covid-19 and subsequent restrictions on global travel weighed on new business generation.
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Ex-QBE Re exec Larson joins BMS Re as casualty co-head
Former top casualty and financial lines QBE Re executive Chris Larson has joined independent reinsurance intermediary BMS Re as co-head of casualty broking, The Insurer can reveal.
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News
USI generated $2.3bn TTM revenue through September
USI generated revenue of $2.3bn in the 12 months through September 2022, while its organic growth in the first nine months of this year was 9 percent, according to Moody’s in a note rating the US retail broker’s latest debt issue.
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News
Ryan Specialty predicts “mid-single digit” Q4 organic growth as headwinds ramp up
Pat Ryan hailed his firm’s third quarter financial performance Thursday evening, but company management told Wall Street analysts that a confluence of headwinds is likely to push down its Q4 organic growth rate to the “mid-single digits”.
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Ryan Specialty organic growth slows to 13.7 percent in Q3
Wholesale giant Ryan Specialty said organic revenue growth slowed to 13.7 percent in the third quarter from 22.3 percent in this year’s second quarter and 28.9 percent in last year’s third quarter, but the underlying growth figures easily outpaced those of the major retail-focused major publicly–traded intermediaries in the same ...
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News
Lockton Re bolsters London non-marine retro and property specialty team with Aon’s Ryan
Lockton Re has added Ben Ryan as a senior broker to its London-based non-marine retrocession and property specialty team with the new recruit joining the expansive business from rival Aon’s Reinsurance Solutions.
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News
WBN continues membership build-out with McGill, Miller and Ardonagh Specialty
Worldwide Broker Network (WBN) has added a trio of new member companies with McGill and Partners, Miller Insurance and Ardonagh Specialty Holdings (Bermuda) joining its growing roster.
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News
BRP’s Baldwin forecasts further MGA of the Future growth after record Q3
BRP Group CEO Trevor Baldwin has provided a bullish outlook for the company’s fast-growing MGA of the Future platform as he highlighted a strong pipeline of potential partners to help drive further growth beyond the record revenues it generated in Q3 2022.
