Broking/Distribution
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NewsJudge denies Marsh’s motion to dismiss Aon suit over Florida hires
A Florida circuit court judge has denied Marsh’s attempt to dismiss a lawsuit brought by rival Aon over the hire of more than 40 Florida-based staff including East Coast managing director Michael Parrish.
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Acrisure Re adds senior quartet to corporate advisory and solutions division
Acrisure Re has named Nick Godfrey as head of capital markets and Jonathan Zisaruk as head of legacy as part of a quartet of senior appointments within the intermediary’s corporate advisory and solutions division.
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Alera acquires California-based The Brokerage
US retail broker Alera Group has followed up the announcement of its merger with Propel with the acquisition of The Brokerage Commercial Insurance Services, a Newport Beach, California-based broker specialising in general liability, property, commercial automobile and workers’ compensation.
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BFL taps WTW Canada again as P&C broking leader Wong joins
BFL Canada has made another raid on Willis Towers Watson with the expansive broker bringing in Stephanie Wong as national broking and placement leader.
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WIA reveals deals for med mal specialist Argus and specialty risks broker ORM
Expansive World Insurance Associates LLC (WIA) has announced two further acquisitions, with deals for The Premium Group, which does business as Argus Risk Advisors, and Florida-based Offshore Risk Management (ORM), with both deals closing on 1 September.
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Farrell set to re-emerge at BMS Re
Jerry Farrell has been linked with a move to BMS Re in a senior production and origination role following his recent departure from Toa Re, The Insurer can reveal.
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Amwins Global Risks looks to Beazley and Lloyd’s for senior operations hires
Amwins Global Risks, the rebranded Lloyd’s wholesale broker formerly known as THB Group, has hired Beazley’s Colm Hensman as chief operating officer and Lindsey Davies from Lloyd’s as director of operations.
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Acrisure unveils Disney’s Singer as CFO to support fintech transition
Fast-growing insurance broker and financial services platform Acrisure has named Lowell Singer as its new CFO, with the executive joining from The Walt Disney Company, where he was head of investor relations.
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PCF completes 30th M&A deal of 2021 with Michigan’s Preferred
Fast-growing HGGC-backed broker PCF Insurance Services has completed its 30th acquisition of 2021 with a deal for Michigan-based Preferred Insurance.
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AJG: H2 organic growth to outpace H1 while Willis Re deal on course for Q4 close
Arthur J Gallagher (AJG) has said it is on course to close its Willis Re acquisition in Q4 and revealed strong momentum in its existing platform in this quarter, with higher organic growth in its retail and wholesale operations than in the first half of the year.
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Gallagher Re launches analytics platform GAIA
Expansive reinsurance intermediary Gallagher Re has unveiled a next-generation reinsurance analytics platform, designed to deliver deeper and faster client insights.
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BRP to buy JGS in deal with $163mn upfront cash payment
BRP Group has entered into an agreement to acquire all the assets of Jacobson Goldfarb & Scott (JGS), a New Jersey-based specialty insurance broker and MGA focused on middle-market commercial insurance that has $43.3mn of annual revenues.
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Tysers builds out Dubai operations with trio of hires
Up-for-sale London wholesaler Tysers has made three hires in its Dubai hub as it looks to meet the growing demand for insurance in the Middle East.
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KBW: WTW tells “credible” story despite “optimistic” targets
Following a broadly positive shareholder response to Willis Towers Watson’s investor day, with the firm’s stock closing up almost 4.5 percent on Thursday, analysts from KBW said management had overall told a “credible story”, even if some of the growth and margin goals appeared “optimistic”.
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WTW targets bigger share of North American large account business
Willis Towers Watson’s risk and broking division will target expansion in the North American large account space as well as its more established middle market portfolio as it addresses a region where it is currently underweight, according to management at the company’s investor day.
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King buys Florida med mal agency in second deal since BHMS investment
US broker King Insurance has acquired Corsair Insurance Agency, a central Florida-based physician practices and healthcare facilities specialist, marking King’s ninth acquisition over the past year and the second since receiving backing from BHMS Investments.
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BRP adds $20mn of annual revenues with 11th acquisition of 2021
BRP Group is set to add some $19.7mn of revenue to its books after the expansive US broker agreed its 11th acquisition of 2021 with a deal for White Hill Plaza, a Dallas, Texas-based business that operates as K&S Insurance Agency.
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PE-backed brokers Alera and Propel to merge
Genstar Capital-backed Alera Group is to merge with Flexpoint Ford-backed Propel Insurance, in an example of what is expected to be a growing trend of M&A among private equity-backed consolidators in the retail broking space.
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Oneglobal launches new Middle East operation with Warren as CEO
Oneglobal has appointed Matthew Warren as CEO of its new Middle East operations, as part of the company’s strategy to build out the business in the region.
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London Market veteran Allport joins HW Wood international non-marine team
Independent Lloyd’s broker HW Wood has brought in market veteran Simon Allport to serve as a senior broker within its international non-marine team.
