Broking/Distribution
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NewsHowden: Sky-high broker valuations creating “unsustainable” expectations
Howden Group founder and CEO David Howden has said the private equity buying spree for UK (re)insurance intermediaries is driving valuations to record levels but warned that generous price premiums are raising expectations that may be “unsustainable” in the long term.
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Miller hires WTW’s Hinchey as head of surety
Miller has appointed Sally Hinchey to the newly created role of head of surety.
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BRP reveals terms of Construction Risk Partners acquisition
BRP has revealed that the deal terms for its Construction Risk Partners acquisition include an upfront consideration of $139.0mn in cash and over 900,000 units of stock, as well as performance-based contingent consideration of up to $99.5mn.
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Aon’s Reinsurance Solutions reveals global growth leadership team
Aon has made 20 appointments to its Joe Monaghan-led global growth leadership team – with more to come – as it looks to drive accelerated growth, this publication can reveal.
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BRP acquires $33mn-revenue construction broker CRP
Fast-growing BRP Group has agreed the acquisition of another top 100 independent property casualty agency with a deal for New Jersey-based Construction Risk Partners (CRP), which was bought out from Marsh by its management in 2019 in the aftermath of the JLT deal.
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Willis Towers Watson acquires Israeli broker Leaderim
Willis Towers Watson has signed a definitive agreement to acquire Leaderim, an insurance broking and risk consultancy business in Israel.
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Inver Re hires Howden’s Griffiths as director
Inver Re, the Ardonagh Group’s recently launched reinsurance intermediary, has appointed Nick Griffiths as a director to focus on alternative sources of reinsurance capital and insurance-linked securities (ILS).
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WTW confirms Aon’s Wegbrans as global head of broking and broking strategy
Willis Towers Watson (WTW) has confirmed the appointment of Hugo Wegbrans as global head of broking and broking strategy, with the former Aon Commercial Risks global chief broking officer’s move first revealed by The Insurer earlier today.
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Oneglobal hires Siggery as executive director, risk and compliance
Oneglobal Broking has announced the appointment of Lisa Siggery as executive director, risk and compliance.
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Miller takes HX Markets’ Levett for new head of market management role
Miller has appointed Kate Levett to the newly created role of head of market management.
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Brown & Brown builds in Florida with Heacock acquisition
Brown & Brown has expanded its footprint in central Florida with the acquisition of Heacock Insurance.
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Ryan Specialty reports 28.9% organic revenue growth and 140 bps margin expansion
Recently floated wholesale giant Ryan Specialty Group (RSG) reported organic revenue growth of 28.9 percent for the third quarter and a 140 basis points increase in its adjusted Ebitdac margin to 29.8 percent.
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Relation buys two agencies in Kansas and Ohio
Aquiline-backed Relation Insurance Services has announced the acquisition of two agencies, Kansas-based Truck Insurance Mart and Ohio-based Consultative Insurance Group, with the latter formerly a part of the Nationwide exclusive distribution model.
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Nexus-owned Xenia enters financial lines with PNP acquisition
Nexus Group’s credit insurance and surety specialist Xenia Broking Group has continued its growth into financial lines with the acquisition of the turnover trade credit and financial and specialty risk teams from Lloyd’s broker Parker Norfolk & Partners (PNP).
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Risk Strategies buys Connecticut-based agency Pawson
Risk Strategies has acquired Pawson Insurance, a Connecticut-based full-service retail insurance brokerage specialising in property casualty and employee benefits solutions.
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NFP continues Canadian build out with Foster Park Brokers acquisition
NFP has continued to expand its presence in Canada with the acquisition of Foster Park Brokers, an independent brokerage located in Western Canada.
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BRP organic growth hits 26% in Q3
Florida-based broker BRP Group has revealed that its organic revenue growth increased to 26 percent in the third quarter of this year, compared to 20 percent in the prior period.
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JC Flowers buys into indie agency platform Tricor Insurance
Private equity giant JC Flowers has made a strategic investment in top 100 independent insurance agency Tricor to support the expansion of its platform.
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Hub acquires Louisiana-based Thibeaux Insurance Group
Hub International Limited has acquired the assets of Thibeaux Insurance Group, a family-owned insurance agency offering commercial and personal insurance including home, auto and life.
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Gallagher names Hiller as CEO of construction practice
Gallagher has named industry veteran Martin Hiller as CEO of its speciality construction practice.
