Core Specialty Acquires London Aviation Underwriters

Core Specialty Completes Acquisition of American Surety Company and Underwriters Surety

June 3, 2024

Insurance

Core Specialty Insurance Holdings, Inc. has completed the acquisition of American Surety Company and Underwriters Surety, creating a new Surety Division and adding bail bonds and commercial surety bond product lines. The deal was completed with a mix of cash and stock, preserves the American Surety brand and management team, and brings approximately $93 million in 2023 GAAP gross premiums written to Core Specialty.

Core Specialty to Merge with Lancer Insurance Company

April 16, 2021

Insurance

Core Specialty Insurance Holdings, Inc. and Lancer Financial Group, Inc. agreed to combine in a stock-and-cash merger under which Lancer will operate as a separately managed division of Core Specialty while retaining its brand and management. The deal deepens Core Specialty’s participation in the specialty commercial auto market, creates a combined company with pro forma equity in excess of $1 billion and results in approximately 550 employees across the combined business.

Northeast Coverages Acquires AUI Inc.

November 3, 2020

Insurance

Northeast Coverages Inc., a New York-based wholesale/MGA, has acquired AUI Inc., an Austin-based managing general agency and surplus lines broker. Stonybrook Capital advised Northeast Coverages on the transaction and Stonybrook Risk Management served as the exclusive reinsurance intermediary. The deal expands Northeast Coverages' distribution into the U.S. Southwest and adds AUI's commercial property, liability and niche lines such as liquor liability.

Alera Group Acquires Insurance Underwriters Ltd.

September 26, 2024

Insurance

Alera Group, a national insurance and financial services firm, announced the acquisition of Insurance Underwriters Ltd. (IUL), an independent insurance agency offering business insurance, surety bonds, personal insurance and employee benefits. The deal is intended to strengthen Alera Group's property & casualty, surety and employee benefits presence in the south-central U.S.; terms were not disclosed.

CORE Industrial Partners Invests in Aviation Concepts to Launch Aerospace Platform

January 16, 2024

Aerospace & Defense

CORE Industrial Partners has completed a platform investment in Aviation Concepts, a Sunrise, Florida-based distributor of used serviceable material (USM) aircraft parts serving commercial and freight airlines, MROs and distributors. CORE will support Aviation Concepts’ growth and pursue strategic initiatives and complementary acquisitions; Bob Nardelli will become Chairman of Aviation Concepts’ board.

Applied Underwriters Acquires Centauri Insurance Companies

February 8, 2021

Insurance

Applied Underwriters has completed its acquisition of Centauri Specialty Insurance Company and Centauri National Insurance Company, both based in Sarasota, Florida. The deal expands Applied's property & casualty capabilities and geographic footprint across 10 states while strengthening Centauri's balance sheet and distribution through independent agents and brokers.