BenefitMall Acquires Mutual Med

Truist Insurance Holdings Acquires BenefitMall from Carlyle

August 8, 2022

Insurance

Truist Insurance Holdings, a subsidiary of Truist Financial Corporation, signed a definitive agreement to acquire BenefitMall, the nation's largest benefits wholesale general agency, from funds managed by Carlyle. The deal — expected to close in Q3 2022 — will add roughly $150 million of annual revenue to Truist's wholesale division and BenefitMall will be combined into Truist's CRC Group to expand employee benefits capabilities and distribution.

MagMutual Acquires MDAdvantage Insurance Company of New Jersey

August 15, 2022

Insurance

MagMutual Insurance Company has agreed to acquire MDAdvantage Insurance Company of New Jersey from MDAdvantage Holdings, Inc., subject to regulatory and shareholder approvals. The deal expands MagMutual’s presence in the Northeast while MDAdvantage will continue operating under its current name and maintain its New Jersey hub.

AssuredPartners Acquires Midwest Group Benefits, Inc.

May 9, 2022

Insurance

AssuredPartners, Inc., a national insurance broker based in Lake Mary, Florida, announced the acquisition of Midwest Group Benefits, Inc. of Decorah, Iowa. The Midwest Group Benefits team of 10 — led by Sara Hotvedt — will join AssuredPartners; the agency reports approximately $1.1 million in annualized revenues and the deal expands AssuredPartners' employee benefits presence in Iowa and the Great Plains region.

BenefitMall Acquires Savin Sales Associates

January 12, 2021

Insurance

BenefitMall, a Dallas-based benefits general agency, has acquired Cleveland-based Savin Sales Associates to expand its presence in Ohio. The deal will open a second BenefitMall office in the state and transition Savin leadership into BenefitMall market roles; terms were not disclosed.

Medline Industries, LP Acquires United Medco

January 10, 2024

Healthcare Services

Medline Industries, LP has completed the acquisition of United Medco, a national supplemental benefits administrator. The deal expands Medline's Health Plans business by adding United Medco's member engagement capabilities and Coral Springs facility, broadening Medline's supplemental benefit offerings to Medicare Advantage, Managed Medicaid and commercial insurance markets.

Medical Mutual Acquires Bravo

January 7, 2020

Healthcare Services

Medical Mutual has signed an agreement to acquire Bravo, a Cleveland-based, data-driven provider of employee wellness solutions that serves more than one million users. Bravo will operate as a wholly owned subsidiary of Medical Mutual, bolstering Medical Mutual's population health and wellness capabilities to help improve member health outcomes and reduce employer healthcare costs.