Insurance Acquisitions in Montana

Specialty Program Group (SPG) has acquired Proper Insurance, a Bozeman, Montana-based provider of insurance solutions for short-term rental properties. The acquisition expands SPG's specialty property insurance platform into the short-term rental market; Proper will be led by Michael Grimland as President and continues to offer coverage backed by Lloyd's of London and Concert Specialty.

Inszone Insurance Services has acquired Rocky Mountain Insurance Group, LLC, marking Inszone’s first expansion into Montana. The acquisition brings the benefits-focused agency founded by Gena Gaub into Inszone’s platform, enhancing Inszone’s benefits capabilities and providing Rocky Mountain’s clients access to broader carrier options and commercial/property lines.

Hub International Limited acquired the assets of Cherokee Capital, Inc., d/b/a Hobson Insurance, a full-service independent agency based in Hobson, Montana. The Hobson team, led by co-owners Kristy Longfellow and Misty Kriskovich, will join Hub Mountain to expand Hub's commercial and personal insurance capabilities in the region; terms were not disclosed.

Hub International Limited acquired the assets of Glacier Insurance of Libby, Inc., a full-service independent insurance agency based in Libby, Montana. The Glacier Insurance team, led by owners Kevin and Kim Peck, will join Hub Mountain to expand Hub’s commercial and personal insurance capabilities in the Mountain region; terms were not disclosed.

UniFi Group has agreed to acquire a controlling interest in National Flood Services (NFS), with PEAK6 InsurTech retaining a minority stake in the new joint venture. The transaction is expected to close in the third quarter of 2022 and UniFi will combine its insurance-focused technology and BPO capabilities with NFS's flood insurance platform to expand services and capabilities in the flood insurance market.

Sedgwick has acquired Candau, Inc., a full-service claims adjusting firm serving Montana, Wyoming and the surrounding Mountain West region. The deal expands Sedgwick's automotive and heavy equipment appraisal and adjusting coverage in the Mountain West, broadening its adjuster network and local capabilities.

Marsh & McLennan Agency LLC (MMA), the middle-market agency subsidiary of Marsh, has acquired PayneWest Insurance, a Missoula, Montana-based independent insurance agency. PayneWest’s more than 700 employees and 26 regional offices will operate as MMA’s Northwest regional hub to expand MMA’s geographic footprint and capabilities in the Pacific Northwest.

K2 Insurance Services, LLC made an early-stage growth investment in Loss Run Pro, LLC, a Missoula, Montana–based insurtech that provides subscription software to request, track, and manage loss runs. K2 said the investment and its network of MGAs, carriers and brokers will help Loss Run Pro expand its carrier and broker distribution and accelerate product adoption.

K2 Insurance Services has acquired a majority stake in Columbia Pacific Finance (CPF), a Missoula, Montana–based premium finance and billing solutions provider for insurance agencies. The partnership will expand K2's product offerings and national footprint in premium financing and billing; CPF President Reghan Brandt will continue to lead day-to-day operations.