Insurance Divestitures in 2021
Acquisition Volume in Insurance Divestitures in 2021 by Year
Last 5 years
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- Buyer
- Premia Holdings Ltd.
- Target
- Navigators Holdings (Europe) NV, Assurances Continentales NV (ASCO), Canal Re S.A.
- Seller
- The Hartford
- Industry
- Insurance
- Location
- Belgium
- Type
- Divestiture
Premia Holdings Ltd. has completed the acquisition of Navigators Holdings (Europe) NV and its subsidiaries — including Assurances Continentales NV (ASCO) in Belgium and captive reinsurer Canal Re S.A. in Luxembourg — from The Hartford. Premia will repurpose ASCO from an insurer in run-off into a provider of run-off solutions and integrate the European entities into its Continental European operations.
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December 21, 2021
- Buyer
- Acrisure
- Target
- SUNZ Insurance (MGA and TPA operations), Next Level Administrators, Watchpoint, Ascential Care Partners, Avalon, Accelevant Premium Audit
- Seller
- SUNZ Holdings
- Industry
- Insurance
- Location
- Florida, United States
- Type
- Divestiture
Acrisure has acquired the Managing General Agency (MGA) and Third-Party Administrator (TPA) operations of SUNZ Insurance, including Next Level Administrators, Watchpoint, Ascential Care Partners, Avalon and Accelevant Premium Audit. The deal expands Acrisure's underwriting, claims and distribution capabilities in workers' compensation and PEO-focused insurance, and will be integrated with Acrisure's AI and distribution platform. Terms were not disclosed.
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December 16, 2021
- Buyer
- Hub International Limited
- Target
- JP Griffin Companies, LLC (JP Griffin Group)
- Seller
- JP Griffin Companies, LLC
- Industry
- Insurance
- Location
- Arizona, United States
- Type
- Divestiture
Hub International Limited acquired the assets of JP Griffin Companies, LLC (JP Griffin Group), an employee benefits consulting firm headquartered in Scottsdale, Arizona. The acquisition expands Hub’s employee benefits capabilities in the Southwest; financial terms were not disclosed.
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December 1, 2021
- Buyer
- Arthur J. Gallagher & Co.
- Target
- Willis Towers Watson plc treaty reinsurance brokerage operations
- Seller
- Willis Towers Watson plc
- Industry
- Insurance
- Location
- England, United Kingdom
- Type
- Divestiture
Arthur J. Gallagher & Co. completed the acquisition of substantially all of the treaty reinsurance brokerage operations from Willis Towers Watson plc. The deal combines Gallagher's existing reinsurance business with the acquired operations to form Gallagher Re — a unified global reinsurance platform with roughly 2,400 colleagues across more than 70 offices in 31 countries, enhancing Gallagher's reinsurance capabilities and analytics.
-
- Buyer
- The McGowan Companies (McGowan Consolidated Insurance Holdings Group, Inc. or affiliates)
- Target
- Cameron M. Wilson & Associates, Inc.
- Seller
- Cameron M. Wilson & Associates, Inc.
- Industry
- Insurance
- Location
- Michigan, United States
- Type
- Divestiture
The McGowan Companies acquired certain assets of Cameron M. Wilson & Associates, Inc., effective December 1, 2021; CWA will be rebranded under McGowan Risk Specialists. CWA's staff will remain in place and brokers will receive appointments across McGowan's platform, expanding McGowan's program administration and specialty E&S capabilities nationwide.
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November 2, 2021
- Buyer
- Cordillera Holdings LLP, Investcorp
- Target
- Sunset Life Insurance Company of America
- Seller
- Kansas City Life Insurance Company
- Industry
- Insurance
- Location
- California, United States
- Type
- Divestiture
Cordillera Holdings, backed by initial capital from Investcorp, completed the acquisition of Sunset Life Insurance Company of America from Kansas City Life Insurance Company on November 1, 2021. The deal transfers ownership of the carrier to Cordillera’s newly formed insurance platform (via subsidiary Bona Holdings LLC) and positions the business to focus on retirement-oriented fixed annuity products with Investcorp Insurance Solutions providing outsourced investment management.
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October 29, 2021
- Buyer
- Funds advised by Apax Partners LLP
- Target
- Homeowner Services Group (American Water) — includes brands American Water Resources and Pivotal Home Solutions
- Seller
- American Water Works Company, Inc.
- Industry
- Insurance
- Location
- Illinois, United States
- Type
- Divestiture
Funds advised by Apax Partners agreed to acquire American Water's Homeowner Services Group in a transaction valued at about $1.275 billion. The deal delivers $480 million in cash to American Water, a $720 million secured seller's note and up to $75 million of contingent consideration, allowing American Water to redeploy proceeds into its regulated water and wastewater business.
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May 18, 2021
- Buyer
- Resolution Underwriting Holdings, Ashbrooke Group
- Target
- Sportscover Europe, Active Underwriting Specialists
- Seller
- Sportscover Australia Group
- Industry
- Insurance
- Location
- England, United Kingdom
- Type
- Divestiture
Resolution Underwriting Holdings and Ashbrooke Group have completed the acquisition of Sportscover Europe and Active Underwriting Specialists, the European operations of Sportscover Australia Group. The deal gives the buyers specialist MGA capabilities and FCA regulatory permission to operate in Europe while allowing Sportscover Australia to focus on growth in the Asia‑Pacific and North America markets.
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- Buyer
- Accelerant Holdings, Altamont Capital Partners
- Target
- Commonwealth Insurance Company of America (CICA)
- Seller
- Brit Group, Fairfax Financial
- Industry
- Insurance
- Location
- Delaware, United States
- Type
- Divestiture
Accelerant Holdings acquired Commonwealth Insurance Company of America (CICA) from Brit Group (a subsidiary of Fairfax Financial) and will rename the carrier Accelerant National Insurance Company. The deal expands Accelerant's U.S. capabilities by adding an admitted insurance carrier and coincides with the U.S. rollout of its underwriting and analytics platform, Accelerant InSightFull; Accelerant is PE-backed by Altamont Capital Partners.
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January 26, 2021
- Buyer
- OneDigital
- Target
- Novem Benefits
- Seller
- Novem Group
- Industry
- Insurance
- Location
- New York, United States
- Type
- Divestiture
OneDigital has acquired the employee benefits division of Novem Group — Novem Benefits — expanding its Northeast footprint with a new Rochester, New York office. The division will operate under the OneDigital brand, with Novem leadership joining OneDigital's regional team while Novem Group continues as an independent registered investment adviser.
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- Buyer
- Hub International Limited
- Target
- Eagle American Insurance Agency, LLC
- Seller
- Eagle American Insurance Agency, LLC
- Industry
- Insurance
- Location
- Florida, United States
- Type
- Divestiture
Hub International Limited acquired certain assets of Eagle American Insurance Agency, LLC related to Eagle’s Mesa, Arizona and Denver, Colorado operations. The undisclosed deal expands Hub’s geographic footprint and strengthens its manufactured-housing insurance capabilities.
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- Buyer
- Hub International Limited
- Target
- Christiansen Insurance Group, LLC
- Seller
- Christiansen Insurance Group, LLC
- Industry
- Insurance
- Location
- Puerto Rico, United States
- Type
- Divestiture
Hub International Limited acquired certain assets of Christiansen Insurance Group, LLC, a Guaynabo, Puerto Rico-based insurance brokerage specializing in property & casualty, personal insurance and employee benefits. Ralph Christiansen will join Hub Puerto Rico as Senior Executive Vice President; transaction terms were not disclosed.
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