AJG has $3.5bn to spend on M&A through remainder of 2024Arthur J Gallagher has another $3.5bn for M&A deals this year, with the broker having spent around $700mn already to fund the 24 acquisitions it completed during the first half of 2024.
Aon’s Case: Early close drives momentum at NFP with organic growth and M&AThe early close of Aon’s $13bn NFP acquisition has led to increased momentum as the firms work together to deliver wins, with the acquired middle-market specialist already delivering “strong” organic growth and addressing an active M&A pipeline, according to Greg Case.
Zurich’s Cowbell buy-in may spur Axa and Generali to seek cyber MGA partnerships: CitiZurich’s investment into cyber MGA Cowbell may spur European multiline rivals Axa and Generali to seek similar investments or partnerships as the available pool of cyber MGA relationships shrinks, Citi analyst James Shuck has said.
Munich Re’s Ergo acquires Gjensidige Baltic business in €80mn dealMunich Re subsidiary Ergo has strengthened its position in the Baltic states with the acquisition of Gjensidige’s operations in the region.
PCF acquires the business of TX-based Montalvo Insurance AgencyPCF Insurance Services has acquired the insurance business of Weslaco, Texas-based Montalvo Insurance Agency.
Patriot strengthens presence in Florida through Dynamic Insurance Agency partnershipGrowth-focused national insurance services firm Patriot Growth Insurance Services has expanded its presence in Florida through a new partnership with Dynamic Insurance Agency.
Deals up ~27% YoY as positive M&A momentum continues in Q2: WTWStrong corporate M&A momentum continued in the second quarter with deal activity continuing to surpass that achieved in 2023, according to WTW.
Twelve Capital and Securis announce merger to form leading ILS playerIndependent asset management firm Twelve Capital and ILS specialist Securis Investment Partners have announced the intention to merge to create a combined global ILS manager.
IMA adds MGA FC Underwriters to expansive Eydent platformIMA Financial Group has acquired full-service MGA FC Underwriters in a deal that strengthens the firm’s Eydent Insurance Services unit’s position in the Midwest.
Optio bolsters European presence with Den Hartigh acquisitionOptio Group has acquired Netherlands and Brussels-based MGA Den Hartigh Beheer & Exploitatie BV.
Applied Systems acquires AI company PlanckApplied Systems, a private equity-backed provider of agency and brokerage management systems, has acquired Planck, a New York-based AI company, in a reportedly $300mn deal.
SRG adds MGA Trilogy to MX UnderwritingExpansive intermediary Specialist Risk Group (SRG) has acquired property and casualty-focused MGA Trilogy Underwriting within its underwriting pillar MX.
Hub adds to NC footprint with Wade Associates dealHub International has added to its capabilities in North Carolina with the acquisition of Wade Associates, LLC, an independent agency that has four locations across the Tar Heel State.
Allianz financial strength rating unchanged by proposed Income deal: FitchAllianz’s insurer financial strength rating of AA is unaffected by the proposed purchase of a majority stake in Singapore's Income Insurance for around $1.6bn, Fitch Ratings director Manuel Arrive has said.
Optis: North American agent/broker M&A down 22% in H1The number of announced North American agent and broker M&A transactions dropped 26 percent in the second quarter and 22 percent in the first half of this year compared with the same periods of 2023, according to Optis Partners.
Hub acquires Canada-based 2837932 OntarioHub International Limited has acquired Canada-based 2837932 Ontario Inc from Bradley Beer.
World acquires RI-based Affiliated Insurance ManagersWorld Insurance Associates has acquired the business of Warwick, Rhode Island-based Affiliated Insurance Managers, a commercial lines specialist.
Epic acquires Oregon-based Century Insurance GroupEpic Insurance Brokers & Consultants has acquired Century Insurance Group, an Oregon-based agency specialising in employee benefits and commercial and personal P&C solutions.
Allianz must generate “significantly” higher returns to justify Income purchase price: analystsAllianz will need to prove that it can generate “significantly higher returns” from Singapore’s Income Insurance to justify the S$2.2bn purchase price, according to analysts at KBW.
Centerbridge and Gallatin agree sale of 21.5% stake in PhoenixPrivate equity firms Centerbridge Partners and Gallatin Point have agreed the sale of up to 21.5 percent of Israeli insurer Phoenix Holdings to various international institutional investors, including Affinity Partners and Delek Group.