Novatae Risk Group Acquires American Management Corporation

Novatae Risk Group Acquires Assets of Far East Insurance Marketing

July 19, 2023

Insurance

Novatae Risk Group acquired the assets of Far East Insurance Marketing, Inc. of Buena Park, California on July 1, 2023; terms were not disclosed. Far East is a wholesale insurance agency led by Wes Kwon that serves independent agents and brokers with a niche in real-estate-intensive clients (HOAs, apartments, hotels, shopping centers and grocery stores).

Novatae Risk Group Acquires Assets of Denali Specialty Group

July 1, 2024

Insurance

Novatae Risk Group acquired the assets of Denali Specialty Group, LLC of St. Louis, Missouri effective July 1, 2024; terms were not disclosed. Denali is a small specialty insurance intermediary (founded 2019) focused on investor properties, cannabis, excess worker compensation and student housing, and will bring program development and underwriting talent to Novatae. MarshBerry advised Novatae; Giordano, Halleran & Ciesla provided legal counsel to Novatae and McCarthy, Leonard & Kaemmerer provided legal counsel to Denali.

Novatae Risk Group Acquires MarketScout Corporation

November 10, 2022

Insurance

Novatae Risk Group, a wholesale insurance broker and MGA, has acquired Dallas-based MarketScout Corporation and named MarketScout founder Richard Kerr as Novatae's CEO. The deal brings MarketScout’s specialty insurance capabilities into Novatae’s platform to expand product offerings and strengthen partnerships; terms were not disclosed.

New Mountain Capital Acquires NSM Insurance Group's U.S. Commercial Insurance Division (rebranded Novacore)

April 15, 2025

Insurance

New Mountain Capital has completed the acquisition of NSM Insurance Group's U.S. commercial insurance division. The business — covering 15 niche insurance programs and NSM Insurance Brokers — will operate as an independent specialty commercial MGA (rebranded Novacore) to accelerate growth, innovation and scale under New Mountain's backing.

Amwins Acquires Applied Risk Capital

October 2, 2025

Insurance

Amwins has acquired Applied Risk Capital (ARC), a Managing General Agent (MGA) specializing in credit insurance for the leveraged finance market. ARC will join Amwins Underwriting to expand Amwins' credit insurance and underwriting capabilities for banks, funds and institutional investors; BMO Capital Markets served as exclusive financial advisor to ARC on the sale.

Marsh McLennan Agency Acquires AC Risk Management

May 2, 2024

Insurance

Marsh McLennan Agency (MMA), a subsidiary of Marsh McLennan, has acquired AC Risk Management (ACRM), an independent commercial lines insurance brokerage based in Melville, New York. ACRM’s employees, including CEO Matt Avellino, will remain at the Melville office as MMA expands its commercial lines and construction-focused insurance capabilities in the Long Island region.