Insurance Acquisitions in Delaware

Alera Group, a national insurance and financial services firm based in Deerfield, Illinois, has acquired Delaware-based CBM Insurance Agency. The deal brings CBM’s commercial, personal and life & health insurance business — which serves clients across Delaware, Maryland, Pennsylvania and New Jersey — into Alera’s national platform; terms were not disclosed.

AssuredPartners, a national insurance broker headquartered in Orlando, Florida, has acquired IFS Benefits, LLC, a Newark, Delaware-based employee benefits agency. The 17-person IFS team will join AssuredPartners while remaining under the operational leadership of owners Steve Blewitt and Bob Sonchen as the buyer expands its Mid-Atlantic employee benefits footprint.

Hub International Limited has acquired KT&D, Inc., a Wilmington, Delaware-based insurance brokerage that provides medical malpractice, commercial, personal and employee benefits solutions. The deal — terms undisclosed — strengthens Hub's Specialty practice and expands its healthcare insurance capabilities; KT&D's leadership team will join Hub Mid-Atlantic.

Simplicity Group has acquired Chesapeake Brokerage, a Delaware-based life, long-term care and annuity distribution firm. The founders Jeff and Marge Levy will join Simplicity as partners and continue to run day-to-day operations while benefiting from Simplicity's product, marketing and back-office resources.

Relation Insurance Services, a PE-backed national insurance brokerage, acquired the assets of Brooks McCall & Associates, an independent Newark, Delaware insurance agency. Brooks McCall will be integrated into Relation’s existing Insley operations to expand Relation’s personal and small-business insurance presence in the Delaware market; terms were not disclosed.

Relation Insurance Services, a PE-backed national insurance brokerage, acquired the assets of Newark, Delaware-based Insley Insurance & Financial Services, Inc. The Insley team, led by Harry "T" Insley, Jr., will join Relation and continue operating from the Newark office to help grow Relation's presence in the Mid-Atlantic region; terms were not disclosed.

AssuredPartners, Inc. has acquired B&H Insurance, LLC (BHI) of Newark, Delaware. The 26-person agency, which reports approximately $8 million in annualized revenues, will continue to operate under president John Boykin and join AssuredPartners' national broker network as part of its ongoing roll-up strategy.

Venerable Holdings, Inc. completed the acquisition of Corporate Solutions Life Reinsurance Company (CS Life Re) from Equitable Holdings, Inc., increasing Venerable's pro forma assets under management and reinsurance to approximately $70 billion. Equitable will take a noncontrolling 9.09% equity stake in Venerable's parent (VA Capital Company LLC) and a small dedicated CS Life Re team transitioned to Venerable as part of the deal.

Accelerant Holdings acquired Commonwealth Insurance Company of America (CICA) from Brit Group (a subsidiary of Fairfax Financial) and will rename the carrier Accelerant National Insurance Company. The deal expands Accelerant's U.S. capabilities by adding an admitted insurance carrier and coincides with the U.S. rollout of its underwriting and analytics platform, Accelerant InSightFull; Accelerant is PE-backed by Altamont Capital Partners.