Broking/Distribution
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NewsAssuredPartners racks up 16th acquisition of 2021 with Texas deal
AssuredPartners has acquired 48-employee Texas Associates Insurors Agency (TAI), its fourth acquisition of April and 16th of the year.
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Scope latest exec to arrive at Corant BDA as talks with Bermuda Brokers break down
BGC-backed Corant Global has ended potential takeover talks with Bermuda Brokers as the intermediary confirmed the hire of Paul Scope as chairman of its island operation.
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Risk Strategies partners with CyberCube
Risk Strategies has announced a partnership with CyberCube in a move that will see the privately held US broker roll out the insurtech’s analytics platform for insurance intermediaries.
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Direct Insurance rebrands to Aventum and readies for London and international expansion drive
The fast-growing but relatively unknown UK specialist intermediary Direct Insurance Group has rebranded as the Aventum Group as part of a bold restructure that sets it on course to accelerate its London market and international expansion.
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CAC confirms Lynch hire as its strengthens natural resources team
CAC Specialty has confirmed the hire of Erin Lynch as president of its natural resources platform and co-leader of its power, utility and renewables offering, an appointment that was first revealed by The Insurer last month.
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USI completes acquisition of Northwest Insurance Services business
USI Insurance Services has completed its previously announced acquisition of the insurance business offered through Northwest Bank subsidiary Northwest Insurance Services.
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Grange re-emerges at Brown & Brown’s Tampa Programs
Former QBE North America and Argo executive Jeff Grange has joined Brown Brown’s Tampa Programs operation as president, succeeding Susan Heath who has retired.
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PCF continues build out with acquisition of Alaska-based agency
HGGC-backed PCF Insurance Services has completed its 12th acquisition of the year after agreeing a deal for Hale Associates.
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Kaufman’s Cranbrook makes healthcare move with Dual hires
Cranbrook Underwriting has made a move into the healthcare space with the hires of Gareth Absalom and Carolyn Pritchard from Dual Corporate Risks.
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HW Kaufman opens new Amsterdam office to support continental clients
HW Kaufman Group has bolstered its capabilities in Europe with the opening of a new office in the Netherlands as the company looks to broaden its footprint on the continent.
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Gallagher tight-lipped on possible Aon-WTW deals but confirms $2.5bn M&A warchest
Arthur J Gallagher (AJG)’s management gave nothing away during its earnings call on the potential acquisition of any possible Aon-Willis Towers Watson divested assets, but CFO Douglas Howell confirmed the broker has $2.5bn of M A capacity to hand.
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NFP adds Artex’s Scherer to RISC unit
NFP’s recent build out of its Risk and Insurance Strategy Collective (RISC) specialty practice has continued with the hire of captive specialist TJ Scherer.
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Gallagher reports 6% Q1 brokerage organic growth as exposure units rebound
Arthur J Gallagher saw P C brokerage customer retention and new business generation rebound to “similar” pre-pandemic levels in Q1 2021 as the company posted brokerage organic growth of 6 percent and an adjusted Ebitdac margin of 39.2 percent during the period.
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BGC “confident” it will find transaction for Corant
BGC Partners said today it is open to a broad range of options including a public listing or private sale for its Corant Global business, which saw its brokerage revenue rise to a record-high $52.4mn during the first quarter.
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Corant delivers record revenues in Q1
BGC Partners said that its Corant Global unit, which houses London market wholesalers Ed and Besso as well as aviation specialist Piiq, produced record performance in the first quarter with insurance brokerage revenues up 16.8 percent to $52.4mn.
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WTW posts organic growth of 4% as EPS beats consensus
Willis Towers Watson (WTW) shares are expected to trade up after the broker generated organic growth of 4 percent during the first quarter of 2021, with total revenue growing to $2.6bn in what is expected to be its last quarterly earnings ahead of its drawn-out combination with Aon.
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HGGC-backed PCF continues M&A drive with 11th deal of 2021
US retail broker PCF Insurance Services, currently working to secure additional investment to support its expansion plans, has acquired WB Adams Insurance in a move that strengthens the fast-growing business’ operations in the western US.
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CORRECTION: IMA Financial makes largest acquisition with Bolton deal
IMA Financial Group has announced it will partner with California-based Bolton Company, a deal that IMA said propels it into the top 20 US insurance brokers by revenues.
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Patriot Growth continues acquisition spree with Pablo Beach deal
Fresh from receiving a new capital injection, US retail broker consolidator Patriot Growth Insurance Services has acquired Florida’s Pablo Beach Insurance Group.
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Aon’s Wanat: US insureds facing “less rocky” H2 2021 as rate rises decelerate
US insurance clients will find the second half of 2021 “a little less rocky” when it comes to the rampant rate rises that they have faced in recent years with price increases decelerating and more capacity options on offer, Aon’s Brian Wanat has predicted.
