Insurance Acquisitions in Indiana

Simplicity Group, a holistic financial planning and advisor partner platform, has acquired Indianapolis-based Source Brokerage, a disability insurance specialist broker general agency (BGA). The acquisition expands Simplicity's national disability insurance (DI) capabilities and adds specialized institutional-market expertise (including GME and GSI programs), while Source Brokerage founder Steve Crowe joins Simplicity as a partner.

Unison Risk Advisors (URA) announced that Gibson Insurance Agency, Inc., an independent and employee-owned risk management and employee benefits firm founded in 1933 and headquartered in South Bend, Indiana, has merged into URA as its seventh platform company. The transaction, backed by URA's existing private equity partner Peloton Capital Management, expands URA's geographic footprint and specialty capabilities while Gibson retains its name and leadership team.

WalkerHughes Insurance has acquired McCormick Insurance Agency, Inc., expanding its presence in Vincennes, Indiana. The McCormick team will continue operating from their current office, bringing farm and personal insurance expertise into the WalkerHughes network as an add-on to its regional platform.

Vertical Vision Financial Marketing (V2), an affiliate of AmeriLife Group, LLC, has acquired The Ohlson Group, a Carmel, Indiana-based annuity-focused field marketing organization (FMO). The deal expands V2/AmeriLife's in-house and semi-exclusive annuity product distribution and adds The Ohlson Group's network of more than 2,000 agents to its platform; terms were not disclosed.

Hub International Limited acquired the assets of Mayfield Insurance, Inc., an independent commercial and personal insurance agency based in Mooresville, Indiana. The Mayfield team, led by President Dean Mayfield, will join Hub Midwest East; terms were not disclosed and MarshBerry served as financial advisor to Mayfield Insurance.

Hub International Limited has acquired the assets of John L. Kiley Agency, Inc., doing business as DAR The Rocchio Agency, based in Carmel, Indiana. The acquisition strengthens Hub’s commercial and personal insurance capabilities and employee benefits solutions while complementing its specialty practices in residential construction and real estate development; financial terms were not disclosed.

Arthur J. Gallagher & Co. has acquired Indianapolis-based M.J. Schuetz Insurance Services Inc. The acquisition expands Gallagher's Midwest retail property/casualty brokerage capabilities, integrating Schuetz's expertise in construction, landscaping, manufacturing and real estate into Gallagher's Great Lakes region operations.

Hub International Limited has acquired GMG Group, Inc. and its subsidiary Meyers Glaros LLC, a Merrillville, Indiana-based insurance brokerage that provides commercial and personal insurance as well as employee benefits services. Managing partners Matt Glaros and Jeff Meyers and the Meyers Glaros team will join Hub Midwest East as the firm expands its regional footprint and capabilities.

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.

Risk Strategies has acquired Silveus Insurance Group, a Warsaw, Indiana-based specialist in crop insurance. The acquisition expands Risk Strategies' footprint into agriculture, adding Silveus' proprietary technology, nationwide crop-insurance expertise, and a client base spanning small farms to large corporate growers.

StanCorp Financial Group, Inc. (The Standard) has closed its acquisition of the Life & Disability business from Elevance Health and entered a 10-year distribution partnership to make The Standard's products available to Elevance Health customers. The acquired life and disability operations and employees will operate under The Standard brand, pairing The Standard's sales capabilities with Elevance Health's medical sales team to expand distribution and capabilities in the employee benefits market.

Inszone Insurance Services, a Sacramento-based full-service insurance brokerage, has acquired Financial Arts Inc., a family-run insurance agency founded in 1974 in DeMotte, Indiana. The deal marks Inszone’s entry into Indiana (its 15th state) and aims to preserve the agency’s local presence while leveraging Inszone’s broader resources for benefits and Medicare support.

HDI Global Insurance Company has acquired 100% of Indiana Lumbermens Insurance Company (ILIC) from Pennsylvania Lumbermens Mutual Insurance Company (PLM); the transaction closed on November 30, 2023 and the purchase price was not disclosed. The acquisition gives HDI additional U.S. admitted carrier licenses and a Treasury listing, enabling a faster entry into the U.S. surety market and broadening HDI's U.S. specialty insurance product offerings.

BW Forsyth Partners has made a strategic minority (growth) investment in WalkerHughes Group, a founder-led retail insurance brokerage headquartered in Indianapolis. The capital will fund WalkerHughes’ future acquisitions and organic growth as the firm aims to scale into a larger, people-centric insurance distribution platform.

Arthur J. Gallagher & Co. acquired Fort Wayne-based retail insurance broker Stewart, Brimner, Peters & Company, Inc. (SBP); terms were not disclosed. SBP will continue operating from its Fort Wayne location and the existing leadership team will remain under the direction of Sean Gallagher as Gallagher expands its capabilities and presence in central and northern Indiana.

BlackRock Alternatives' Long Term Private Capital (LTPC) has acquired a majority interest in Alacrity Solutions, a Fishers, Indiana-based provider of outsourced insurance claims management services. Kohlberg & Company and Alacrity's management retain significant minority stakes; the investment is intended to support Alacrity's continued growth and capability expansion across its claims lifecycle services.

PCF Insurance Services, a top-20 U.S. insurance brokerage headquartered in Utah, has acquired TCU Insurance Agency, an independent agency and subsidiary of Teachers Credit Union that serves customers in Indiana and Michigan. The acquisition expands PCF's Midwest footprint and broadens its personal and commercial insurance offering; terms were not disclosed.

USI Insurance Services has acquired Noblesville, Indiana-based Ritman & Associates and will combine Ritman's operations with its USI Affinity division. The deal strengthens USI Affinity's law firm program and expands USI's legal malpractice and affinity insurance capabilities; terms were not disclosed.

World Insurance Associates LLC, a Top-50 national insurance brokerage based in Iselin, New Jersey, acquired Future Insurance Group of Schererville, Indiana on December 1, 2022. Future Insurance Group is a family-owned insurance agency specializing in trucking and transportation insurance for long-haul trucking, fleets and owner-operators; terms were not disclosed.

AssuredPartners, Inc. has acquired Witkemper Insurance Group, a Greensburg, Indiana-based insurance agency with offices in Greensburg and Indianapolis. The 19-person team will remain under President Kyle Nichols; the deal expands AssuredPartners' operations in Indiana and is one of many add-on acquisitions by the firm in 2022.

Porch Group, Inc. has acquired certain assets of Residential Warranty Services (RWS) from RWS (terms not disclosed). The acquisition adds home warranty, service-contract and related software and marketing capabilities — and distribution through real-estate and home-inspector channels — to Porch's vertical home services platform.

Hilb Group announced it has acquired Indiana-based Howe‑LaGrange Insurance Agency and Reick Insurance Agency, effective June 1, 2022. The two LaGrange, Indiana agencies and their staff will join Hilb’s Midwest operations as the firm expands its presence across Indiana and the broader Midwest market.

USI Insurance Services has acquired Vincennes, Indiana-based employee benefits brokerage and advisory firm Benefits 7, Inc. The deal expands USI's employee benefit consulting capabilities and footprint in Indiana and the broader Midwest; terms were not disclosed.

Choice Financial Group, backed by Northlane Capital Partners, has acquired Marley Insurance Agency, a century-old independent agency based in Scottsburg, Indiana. Richie Buchanan will continue to lead Marley post-close as Choice expands its footprint into the greater Louisville market; the deal marks Choice's fourth acquisition since partnering with Northlane in October 2021.

Crawford & Company has acquired Praxis Consulting, Inc., a U.S.-based provider of outsourced subrogation claims management and recovery services. The deal brings Praxis' subrogation expertise and proprietary data analytics into Crawford's claims management platform to expand capabilities in the U.S. subrogation market.

Integrity Marketing Group has acquired Star Benefit Associates, a Medicare-focused field marketing organization based in Indianapolis. The acquisition brings Star Benefit Associates onto Integrity's platform to expand Medicare Advantage offerings in the Midwest and provide the agency access to Integrity's technology, back-office support and proprietary products.

NFP, a leading insurance broker and consultant, acquired Indianapolis-based employee benefits brokerage First Person, Inc., with the transaction closing April 30, 2021. The deal expands NFP's presence and P&C/benefits capabilities in the greater Indianapolis market while First Person's founder Bryan Brenner will continue as a managing director within NFP.

Armatage Capital, an acquisition fund led by Randy Rempp, has acquired Meridian Title Corporation, a title and settlement services provider with 34 offices across Indiana and Michigan. Britehorn Partners advised Meridian Title on the sale; financial terms were not disclosed. The transaction is positioned as an ownership transition to support Meridian's continued growth and legacy.

The Hilb Group, LLC (THG) announced the acquisition of Indiana-based Star Insurance Agency, effective March 1, 2021. The Star Insurance team, including Leslee Robinson and Billy Davenport, will join THG of Indiana as part of THG’s expansion of its personal, commercial P&C and employee benefits capabilities in the region.

Keystone Agency Partners (KAP) announced a strategic partnership to add The DeHayes Group, an independent insurance agency based in Fort Wayne, Indiana, as the tenth platform partner. The deal expands KAP's Midwest footprint and deepens its employee benefits capabilities; The DeHayes Group will retain its local management team and office. Financial terms were not disclosed.

World Insurance Associates LLC (WIA), a nationally ranked full-service insurance brokerage based in Tinton Falls, New Jersey, acquired Ball Insurance Services, a property & casualty agency focused on auto and motorcycle insurance headquartered in Merrillville, Indiana. Terms were not disclosed; WIA said the acquisition aligns values and will enable seamless integration of Ball's employees and clients as part of WIA's roll-up strategy.

World Insurance Associates LLC (WIA) acquired Pinnacle Insurance Group of Indiana on May 1, 2020. The acquisition expands WIA's footprint in Indiana and brings the Pinnacle team into WIA's national brokerage platform; financial terms were not disclosed.

The Hilb Group, LLC (a Richmond-based, PE-backed insurance agency) has acquired Insurance Trustees, Inc., an Indiana-based property & casualty and employee benefits agency, effective December 1, 2017. Insurance Trustees will continue to operate from its Garrett, Indiana office under its existing name, joining THG’s growing platform to strengthen the firm’s geographic presence in Indiana.

USI Insurance Services has acquired Forrest Sherer Insurance, Inc., a Terre Haute, Indiana-based insurance agency, from First Financial Corporation. Forrest Sherer — which provides property-casualty, employee benefits and personal risk services and will keep staff in its Terre Haute and Evansville offices — becomes part of USI as the buyer expands its presence in Indiana; terms were not disclosed.