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

The Carlyle Group to Acquire NSM Insurance Group from White Mountains

May 9, 2022

Insurance

White Mountains Insurance Group has signed a definitive agreement to sell NSM Insurance Group to investment funds affiliated with The Carlyle Group for $1.775 billion. Carlyle will partner with NSM's founder-led management team to pursue operational improvements, accretive M&A and strategic investments in technology and data & analytics; the deal is expected to close in the second half of 2022, subject to regulatory approvals.

NSM Insurance Group Acquires Shield Commercial Insurance Services

July 10, 2023

Insurance

NSM Insurance Group has acquired Shield Commercial Insurance Services, a Palm Desert-based underwriting business specializing in insurance for small and mid-sized contractors. The acquisition expands NSM’s portfolio of specialty insurance programs and aims to accelerate Shield’s growth through NSM’s national agent distribution and expanded geographic footprint.

NSM Insurance Group Acquires Acquis Insurance Management

March 29, 2023

Insurance

NSM Insurance Group has agreed to acquire Acquis Insurance Management, a UK-based specialist provider of insurance programs to the asset finance market. The deal (subject to customary regulatory approvals) will expand NSM's footprint in Europe and the U.S. and provide Acquis with additional capacity and resources to accelerate growth after its 2019 MBO backed by Dunedin LLP.

NSM Insurance Group Acquires Sequoia Re, IOA Re and Rockport MGUs from J.C. Flowers/ELMC

March 20, 2023

Insurance

NSM Insurance Group has completed the acquisition of Sequoia Reinsurance Services, IOA Re (and its divisions Rockport Benefits and Insurance Resources and Auditing Services) from ELMC Risk Solutions, a portfolio company of J.C. Flowers & Co. The deal establishes a dedicated platform in medical stop loss and managed care, expanding NSM's specialty insurance capabilities and distribution reach.

NSM Insurance Group Acquires Strategic Underwriters International

June 4, 2024

Insurance

NSM Insurance Group has completed the acquisition of Strategic Underwriters International (SUI), a Doylestown, Pennsylvania-based managing general agent (MGA) and leader in the facultative casualty reinsurance market. The deal expands NSM's specialty insurance capabilities in facultative casualty reinsurance and aims to leverage NSM's resources — including product development, technology systems and AI initiatives — to grow SUI's underwriting platform.

NSM Insurance Group Acquires ISO Student Health Insurance

July 30, 2024

Insurance

NSM Insurance Group, a specialty insurance provider headquartered in Conshohocken, Pennsylvania, has acquired ISO Student Health Insurance, a New York–based brokerage and plan administrator focused on health and travel insurance for international students. The acquisition expands NSM’s portfolio of travel and student insurance brands and leverages ISO’s direct-to-consumer digital enrollment platform and university distribution relationships to accelerate growth.