iA Financial Group Acquires Vericity for $170M

Simplicity Group Holdings Acquires Verity Asset Management

July 16, 2025

Financial Services

Simplicity Group Holdings has acquired Verity Asset Management, a Durham, North Carolina-based registered investment adviser founded in 1996. Verity's leadership team will join Simplicity as partners as the firm integrates Verity's wealth management and 403(b) practice to expand Simplicity's client base and service offerings.

American Financial Group Acquires Verikai

January 18, 2022

AI & Machine Learning

American Financial Group (AFG) acquired Verikai, an AI/machine learning insurtech based in San Francisco, effective December 2021 for approximately $120 million in cash. Verikai will continue to operate as a stand-alone company led by CEO Jeff Chen and its predictive-risk tools will be used across AFG’s businesses, including Great American Insurance Group.

Mastercard Acquires Finicity for $825M to Boost Open Banking

June 23, 2020

Payments & Fintech

Mastercard has agreed to acquire Finicity, a Salt Lake City-based provider of financial data APIs and analytics, for $825 million plus up to $160 million in potential earn-outs. The acquisition strengthens Mastercard's open banking capabilities and expands its data and account verification offerings for banks, fintechs and lenders in North America and beyond.

Hub International Acquires Assets of Verity Insurance Services Inc. and Bellehaven Management Inc.

October 8, 2021

Insurance

Hub International Limited acquired the assets of Verity Insurance Services Inc. and Bellehaven Management Inc., two Covina, California–based insurance businesses. The deal brings the Verity team, led by co-owners Herman Auyang and Helen Chang, into Hub California to expand Hub's commercial insurance and employee benefits capabilities; terms were not disclosed.

iA Financial Group Acquires Innovative Aftermarket Systems from Genstar Capital and Flexpoint Ford

May 26, 2020

Insurance

iA Financial Group (iA Financial Corporation Inc.) has completed the acquisition of Innovative Aftermarket Systems (IAS), a U.S.-based provider of vehicle protection products, administration and underwriting, from Genstar Capital and minority holder Flexpoint Ford for US$720 million. Headquartered in Austin, Texas, IAS operates with more than 500 employees and a distribution network of over 4,300 dealer relationships; iA said the deal strengthens its U.S. warranty capabilities and positions the combined business for growth in a fragmented market.

First Trust Capital Partners Acquires Direct Indexing Firm Veriti Management LLC

July 6, 2022

Financial Services

First Trust Capital Partners, an affiliate of First Trust, signed a definitive agreement to acquire Veriti Management LLC, a direct indexing asset management and fintech firm. The acquisition, expected to close July 31, 2022, adds direct indexing capabilities to First Trust's advisor- and institution-facing product suite to enable greater portfolio customization, tax efficiency and personalization for clients.