Insurance Acquisitions in 2021

World Insurance Associates LLC (WIA), a Tinton Falls, New Jersey-based insurance broker, acquired Pardee's Agency, Inc. of Kingston, New York effective December 31, 2021. Terms were not disclosed; Pardee's is a long-established independent agency offering personal and commercial insurance, employee benefits and life products.

Relation Insurance Services acquired the assets of Kamm Insurance Group, Inc., effective December 31, 2021; terms were not disclosed. The deal creates a new "Great Lakes region" business unit to expand Relation's presence in Chicagoland and the broader Great Lakes area, with Bill and Adam Kamm remaining in leadership roles.

World Insurance Associates LLC, a Top 100 insurance brokerage headquartered in Tinton Falls, New Jersey, acquired Steve Love Insurance Agency of Virginia Beach, Virginia on December 31, 2021. Terms were not disclosed; the target provides personal (auto, home, life) and business insurance and will continue operating as part of WIA.

World Insurance Associates LLC, a Top-100 insurance brokerage based in Tinton Falls, New Jersey, acquired Livingston Insurance Agency on December 31, 2021. Terms were not disclosed; Livingston will continue to serve its personal and commercial insurance clients as part of World’s expanding network.

NFP acquired certain assets of Dignum & Bame Insurance Agency, Inc., a third-generation property & casualty broker based in East Greenbush, New York; the transaction closed on December 31, 2021. The acquisition bolsters NFP's P&C presence in the Northeast and brings municipal and school-district insurance expertise, with Robert Dignum joining NFP as a vice president.

The Hilb Group announced it has acquired Wharton Surety Consultants, a Wayne, Pennsylvania-based surety and fidelity bond specialist, with the transaction effective December 31, 2021. Agency Principal Eric Follman and his team joined Hilb's Mid-Atlantic regional operations as the acquisition expands Hilb's presence in the national surety marketplace.

World Insurance Associates LLC, a Top 100 insurance brokerage based in Tinton Falls, New Jersey, acquired Mid Atlantic Insurance Group, a Richmond, Virginia-based commercial wholesaler specializing in workers' compensation, on December 31, 2021. Terms were not disclosed; WIA said the acquisition will expand its carrier relationships and workers' compensation capabilities.

Premia Holdings Ltd. has completed the acquisition of Navigators Holdings (Europe) NV and its subsidiaries — including Assurances Continentales NV (ASCO) in Belgium and captive reinsurer Canal Re S.A. in Luxembourg — from The Hartford. Premia will repurpose ASCO from an insurer in run-off into a provider of run-off solutions and integrate the European entities into its Continental European operations.

Funds managed by Oaktree Capital Management have acquired Velocity Risk Underwriters, a Nashville-based catastrophe-focused managing general agent (MGA). Nephila Capital, the firm's founder, will remain a minority shareholder as Oaktree provides capital and support to expand Velocity Risk’s underwriting platform and capabilities.

Markerstudy Group has agreed to acquire Lloyd's broker Clegg Gifford, subject to regulatory approval. The deal brings Clegg Gifford's Lloyd's access and motor-trade specialism into Markerstudy's digitally-led insurance platform, with founder Roy Clegg set to retire and Toby Clegg remaining as CEO of the business.

NFP has acquired East Coast Underwriters, LLC and Blue Ridge Captive Solutions PCC, Inc., enhancing its medical stop loss and self-funded group captive capabilities. The transaction closed December 23, 2021, and Aaron Wilkie, president of East Coast Underwriters and Blue Ridge Captive Solutions, will join NFP as a managing director.

AssuredPartners, Inc. has acquired Pierce Group Benefits, LLC, an employee benefits agency based in Holly Springs, North Carolina. The 80-person firm, which reports approximately $19 million in annualized revenue, will remain led by President Chris Pierce and will expand AssuredPartners' employee benefits footprint and capabilities in the public sector across North Carolina and the surrounding region.

Marsh has increased its shareholding in Marsh India Insurance Brokers Pvt. Ltd. from 49% to 92%, acquiring shares from local partners including Rampart Trust with approval from the IRDAI. The move gives Marsh majority control of the Mumbai-based broker (18 branches, ~1,300 employees, 5,500 corporate clients) to strengthen its presence and expand risk and insurance advisory services across India.

King Insurance, a Gainesville, Florida-based full-service insurance brokerage, acquired Piedmont Insurance Associates, an independent insurance agency with offices in Covington and Newnan, Georgia. The acquisition is King's first expansion outside Florida and continues its roll-up strategy following a partnership with investor BHMS Investments, LP.

Alera Group, a national insurance and wealth services firm, acquired six independent agencies — Ashbrook-Clevidence, Benefit Design Specialists (BDS), Erich Courant & Co., Heist Insurance Agency, Simkiss & Block and The D.B.L. Center LTD — effective December 1, 2021. The transactions expand Alera Group’s geographic footprint and bolster its property & casualty and employee benefits capabilities across multiple U.S. markets; terms were not disclosed.

Reliance Global Group, Inc. (NASDAQ: RELI) entered into a definitive agreement to acquire Medigap Health Insurance Company, an insurance brokerage in Florida specializing in Medicare supplement insurance, in an asset purchase expected to close in early 2022. The transaction, valued at approximately $19.6 million in cash and restricted common stock, is intended to expand Reliance's presence in the Medicare supplement market and leverage operational synergies with its existing portfolio.

Stewart Information Services Corporation (NYSE: STC) has acquired Greater Illinois Title Company (GITC), the largest title agency in Illinois headquartered in Chicago. The acquisition expands Stewart's scale and market share in Illinois and adjacent states, giving GITC access to Stewart's broader family of companies and services.

King Insurance, a Gainesville-based full-service insurance brokerage, has acquired AGM Insurance Agency and Fordham Insurance Agency, both founded by Mitch and Ginger Renfroe in Fort Lauderdale, Florida. The agencies will continue operating from their current location under King Insurance as part of the firm's ongoing Florida expansion supported by its partnership with BHMS Investments, LP.

Likewize entered into an agreement to acquire 100% of Optus Insurance Services Pty Limited from Singtel Optus for A$200 million (approximately US$140 million) and signed a 15-year exclusive supply agreement to provide Optus customers with device insurance, replacement and upgrade programs. The transaction strengthens Likewize's device protection portfolio and scales its presence in the Australian market; completion was expected in Q2 2022, subject to regulatory approval.

Acrisure has acquired the Managing General Agency (MGA) and Third-Party Administrator (TPA) operations of SUNZ Insurance, including Next Level Administrators, Watchpoint, Ascential Care Partners, Avalon and Accelevant Premium Audit. The deal expands Acrisure's underwriting, claims and distribution capabilities in workers' compensation and PEO-focused insurance, and will be integrated with Acrisure's AI and distribution platform. Terms were not disclosed.

AssuredPartners, Inc. has acquired Medallion Wealth Management, Inc., a Sewickley, Pennsylvania-based wealth management firm led by President Arthur Hazen. The 12-person firm — reporting approximately $3 million in annualized revenues — will join AssuredPartners to expand the broker's presence and capabilities in Pennsylvania.

GrowthCurve Capital has completed a majority investment in Brightway Insurance, a Jacksonville-based personal-lines insurance franchisor, with founders David and Michael Miller retaining significant minority ownership. The partnership will fund Brightway's national expansion and technology investments; GrowthCurve-appointed Mark Cantin becomes president and CEO. Terms were not disclosed.

Hub International Limited acquired the assets of JP Griffin Companies, LLC (JP Griffin Group), an employee benefits consulting firm headquartered in Scottsdale, Arizona. The acquisition expands Hub’s employee benefits capabilities in the Southwest; financial terms were not disclosed.

OneDigital has acquired Benemax, a Medfield, Massachusetts-based benefits administration and consumer-directed healthcare firm. The transaction brings 40 Benemax employees to OneDigital and strengthens OneDigital's presence and capabilities in the New England benefits advisory and administration market.

Donan and CCG IQ have combined to create a unified claims intelligence and forensic engineering platform and have partnered with private equity firm New Mountain Capital, which acquired a majority stake in the combined business. Carousel Capital, CCG IQ's first institutional investor, completed a majority exit but will remain a significant minority investor; the combined company will be headquartered in Louisville, Kentucky and Charlotte, North Carolina and employ more than 500 people.

Patriot Growth Insurance Services announced that The Safegard Group, a Media, Pennsylvania-based risk-management focused insurance agency, has joined the Patriot platform. The partnership expands Patriot's property & casualty and employee benefits capabilities and establishes a Philadelphia-area presence; Safegard's 56 staff and leadership team will remain in place.

Kin Insurance has completed the acquisition of an inactive insurance carrier that holds licenses in 43 U.S. states; the carrier will be renamed the Kin Interinsurance Nexus. The acquisition gives Kin the regulatory footprint to expand beyond its current markets (Florida, Louisiana and California) into many catastrophe-exposed states, supporting rapid geographic growth and new product distribution.

Choice Financial Group, a PE-backed insurance agency platform, acquired Bernier Insurance Agency of Rochester, New Hampshire, marking Choice's first location in New England. Troy Dillow will remain president of Bernier as the agency leverages Choice's tools and Northlane Capital Partners' support to expand regionally.

OneDigital has acquired Ventris Utah Employee Benefits to expand its employee benefits and retirement consulting presence in Utah and the broader Western U.S. Ventris founders Joel Mills and Marc Hale will join OneDigital's West Region as Managing Principals to continue serving clients with enhanced national resources and capabilities.

Brown & Brown Dealer Services, a division of Brown & Brown, Inc., has acquired substantially all of the assets of Rainmaker Advisory, LLC. The Rainmaker team, led by owner Ryan Hanlon, will continue operating from Ventura, California and will join BBDS to expand dealer-focused F&I and reinsurance advisory capabilities and establish a West Coast presence.

World Insurance Associates LLC (WIA), a Top 100 insurance brokerage based in Tinton Falls, New Jersey, acquired E&K Insurance Group of Eatontown, New Jersey on December 1, 2021. Terms were not disclosed; E&K is a multi-line insurance agency offering personal, commercial and specialty insurance and will operate as part of World’s national platform.

High Street Insurance Partners (HSIP) has acquired Nebraska-based GTA Insurance Group, adding over 30 offices across Nebraska and expanding HSIP's agricultural insurance capabilities. The deal integrates GTA's local teams into HSIP's national brokerage platform to broaden geographic reach and deepen agribusiness expertise for clients.

SIB Corp., operating as StoneRidge Insurance Brokers and backed by private equity firm CIVC Partners, has acquired John Stark & Company, a family-owned full-service insurance brokerage with offices in Barrie and Coldwater, Ontario. The acquisition expands StoneRidge’s personal, commercial and life insurance offerings and continues SIB’s roll-up strategy in Canada; Stark is the eighth transaction since SIB partnered with CIVC in 2019.

Brown & Brown Dealer Services, a division of Brown & Brown, Inc., has acquired substantially all of the assets of Dealer Admin. Services, Inc. (DAS). DAS — a dealer-centric administrator providing aftermarket F&I product solutions for franchise and pre-owned dealers — will operate as a division of BBDS under Brown & Brown's dealer services platform, with Bill Kelly continuing to lead DAS operations from Bloomington, Minnesota.

AssuredPartners, Inc. has acquired American Risk Services, LLC (ARS), a Cincinnati-based insurance brokerage with a 32-person team and approximately $20 million in annualized revenue. The ARS founders and leadership will remain with the business as AssuredPartners expands its Ohio footprint as part of continued national growth.

Risk Strategies has acquired Fournier Group, a Portland-based full-service commercial and personal lines retail insurance agency, to expand its presence in the Pacific Northwest and add aviation, entertainment and hospitality expertise. Terms of the deal were not disclosed.

Silver Lake has led a $1.2 billion strategic minority investment in Integrity Marketing Group to accelerate the development of Integrity's omnichannel insurtech platform. Silver Lake will take a board seat and collaborate with Integrity's leadership to expand technology, data and distribution capabilities while Integrity's founders, management and employees remain majority shareholders; Harvest Partners and HGGC will remain significant investors.

Risk Strategies, a national specialty insurance brokerage, has acquired Meeker Sharkey & Hurley, a full-service insurance and employee benefits agency with offices in Basking Ridge and Cranford, New Jersey. The acquisition strengthens Risk Strategies' retail insurance operations and specialist capabilities in New Jersey; terms were not disclosed.

Millennial Specialty Insurance, an indirect subsidiary of BRP Group, acquired substantially all of the assets of Arcana Insurance Services, a Dallas-based national insurance agency and program administrator focused on real estate investors and property management. The acquisition adds approximately $3.6 million of annual revenue and brings single-family rental program capabilities to BRP Group's MGA platform to support further product and capability expansion.

Hub International Limited acquired Cameron Investment Company, Inc., d/b/a Shepard Walton King Insurance Group, a McAllen, Texas-based insurance agency. The acquisition expands Hub's Texas footprint and strengthens its specialty insurance capabilities across agribusiness, real estate and education lines; terms were not disclosed.

Aldel Financial, a SPAC, completed its previously announced business combination with Hagerty, creating the public company Hagerty, Inc., which began trading on the NYSE under ticker HGTY on December 3, 2021. FG Financial Group disclosed beneficial ownership of Hagerty shares and warrants and highlighted Hagerty's integrated specialty automotive insurance, membership and media platform as a scalable, multi-revenue business.

Westland Insurance Group Ltd. acquired two Prairie-based brokerages: Church Eaton Insurance (Calgary, Alberta) and Hook Lafrance (Regina, Saskatchewan). The transactions expand Westland's presence and capabilities in the Prairies, strengthening its national commercial and property & casualty distribution network.

Hub International Limited acquired the assets of SGY, Inc. (d/b/a Shattuck & Grummett Insurance), a fourth-generation insurance agency based in Juneau, Alaska. The transaction brings the Shattuck & Grummett team into Hub Northwest to expand Hub's commercial, personal and employee benefits capabilities in Alaska; terms were not disclosed.

Hub International Limited acquired the assets of Catto & Catto, Inc. and Catto & Catto Benefits Group, LLC, expanding Hub's commercial and personal insurance, risk management, surety, and employee benefits capabilities in Texas. The Catto & Catto team, led by CEO Jaimie Hayne, will join Hub Texas; terms were not disclosed and Reagan Consulting served as financial advisor to Catto & Catto.

Ryan Specialty Group (NYSE: RYAN) has acquired San Francisco–headquartered transportation specialist Crouse and Associates, integrating the team into RT Specialty, Ryan Specialty’s wholesale brokerage division. The deal (terms not disclosed) expands Ryan Specialty’s transportation capabilities and adds a West Coast footprint; Crouse reported approximately $26 million of revenue for the trailing twelve months ended November 30, 2021.

The McGowan Companies acquired certain assets of Cameron M. Wilson & Associates, Inc., effective December 1, 2021; CWA will be rebranded under McGowan Risk Specialists. CWA's staff will remain in place and brokers will receive appointments across McGowan's platform, expanding McGowan's program administration and specialty E&S capabilities nationwide.

World Insurance Associates LLC (WIA), a Top 100 insurance brokerage headquartered in Tinton Falls, New Jersey, acquired Ciardiello Insurance Agency of Hamden, Connecticut on December 1, 2021. The acquisition expands WIA's presence in the Connecticut market; terms were not disclosed.

High Street Insurance Partners (HSIP) acquired Hershey Insurance Agency (HIA), a full-service insurance firm headquartered in Troy, Michigan. The deal expands HSIP’s presence in Michigan and the Midwest as part of its ongoing roll-up strategy of community-focused agencies.

Arthur J. Gallagher & Co. completed the acquisition of substantially all of the treaty reinsurance brokerage operations from Willis Towers Watson plc. The deal combines Gallagher's existing reinsurance business with the acquired operations to form Gallagher Re — a unified global reinsurance platform with roughly 2,400 colleagues across more than 70 offices in 31 countries, enhancing Gallagher's reinsurance capabilities and analytics.

Venbrook Group, LLC acquired InterContinental Insurance Brokers, LLC, a Boston-based property & casualty insurance brokerage, to strengthen its East Coast presence and commercial real estate risk management capabilities. IIB founder Thomas E. Sleeper will continue to lead the business and become Managing Director of Venbrook Insurance Services Northeast Real Estate, supporting expansion of Venbrook's nationwide commercial real estate offerings.