Insurance Acquisitions in North Carolina

King Risk Partners has acquired Stuart Surles Insurance, an independent agency based in Angier, North Carolina, expanding King Risk's footprint in the state. The acquisition strengthens King Risk's farm and crop insurance capabilities while preserving Stuart Surles Insurance's local, relationship-driven service model.

Align Capital Partners (ACP) completed a growth capital investment in Advantage Investigations, a national insurance investigative services platform, with CEO Shelly Kummings remaining in place. The partnership will support Advantage's national expansion, technology and AI investments, and continued M&A activity to expand its insurance services offerings.

King Risk Partners has acquired Nobles Insurance Agency, Inc., an independent insurance agency with offices in Raleigh and Clayton, North Carolina. The acquisition strengthens King Risk's presence in the Carolinas and gives Nobles' clients access to King Risk's broader resources and solutions.

Knighthead Insurance Group has acquired Merit Life Insurance Co., rebranding the business as Knighthead Life and launching U.S. operations focused on annuities and retirement solutions. The acquisition supports Knighthead's strategic expansion into the United States and the rollout of multi-year guaranteed annuity (MYGA) products backed by an AM Best A- rating.

Skyla Insurance Services, a subsidiary of Skyla Credit Union, has acquired Policyline Insurance, a Cornelius, North Carolina-based provider of insurance products and employee benefits consulting. The deal, which closed January 2, 2025, brings Policyline's team and capabilities into Skyla's insurance platform to expand product offerings and deepen benefits consulting for Skyla Credit Union members and corporate accounts.

Davies has acquired Barker Claim Services, an independent loss adjusting firm based in Greensboro, North Carolina, to strengthen its claims handling capabilities across Virginia, North Carolina, South Carolina and northeast Tennessee. Financial terms were not disclosed; the deal expands Davies' North American footprint and adds regional property, casualty and motor claims expertise to its insurance solutions offering.

King Risk Partners has acquired Insurance Solutions Group, Inc., an independent insurance agency based in Garner and Fuquay-Varina, North Carolina, to expand its presence in the greater Raleigh market. The acquisition brings Insurance Solutions Group’s local client relationships and expertise in personal, business and life insurance into King Risk’s larger regional brokerage platform.

Marsh McLennan (through its Marsh McLennan Agency business) has acquired McGriff Insurance Services, LLC for $7.75 billion in cash, a deal that strengthens Marsh McLennan Agency’s capabilities across commercial property & casualty, employee benefits, management liability and personal lines. McGriff—an affiliate of TIH—reported roughly $1.3 billion of trailing twelve-month revenue and will bring more than 3,500 employees into Marsh McLennan; the transaction closed following customary regulatory approvals.

ALKEME, a Top 35 insurance brokerage based in Ladera Ranch, California, has acquired Surry Insurance, one of North Carolina's oldest insurance agencies. The acquisition expands ALKEME's footprint into the Southeast and strengthens its capabilities in the education and public entity insurance sectors.

King Insurance Partners, based in Gainesville, Florida, has acquired Barnette and Coates Inc., a long-standing insurance agency in Hendersonville, North Carolina. The deal expands King's geographic footprint and brings Barnette and Coates' local client relationships and servicing capabilities into King's platform.

Hub International Limited has acquired the assets of Wade Associates, LLC, an independent insurance agency with locations in Davidson, New Bern, Raleigh and Wilmington, North Carolina. The deal expands Hub’s commercial and personal insurance capabilities and strengthens its specialty practices in construction, manufacturing, healthcare/life sciences and technology; Wade’s leadership team will join Hub Carolinas. Terms were not disclosed and Reagan Consulting represented Wade Associates.

King Insurance Partners has acquired The Dave Alton Agency, which operates locations in Greenville, Washington and Plymouth, North Carolina. The acquisition expands King Insurance Partners’ footprint in North Carolina and brings additional personal and commercial insurance capabilities and client relationships into King’s platform.

Private equity firms Stone Point Capital and Clayton, Dubilier & Rice (CD&R), with participation from Mubadala Investment Company and other co-investors, acquired Truist Insurance Holdings (TIH) from Truist Financial Corporation in an all-cash transaction valuing TIH at an implied enterprise value of $15.5 billion. The deal establishes TIH as an independent, standalone insurance brokerage platform headquartered in Charlotte, North Carolina, with management and over 1,500 employee equity participants remaining invested in the business.

Arch U.S. MI Holdings (Arch MI), a subsidiary of Arch Capital Group Ltd., has signed a definitive agreement to acquire RMIC Companies, Inc. and its subsidiaries, the run-off mortgage insurance business of Old Republic International Corporation. RMIC's approximately $1.0 billion risk-in-force portfolio will be integrated into Arch MI's U.S. primary mortgage portfolio; the transaction is expected to close in the first half of 2024, subject to regulatory approval.

TWFG Insurance (The Woodlands Financial Group) acquired The Jeff Kincaid Insurance Agency, Inc. in October 2023, adding an $18.2 million book of business and five branch offices across Hickory, Shelby, Morganton, Forest City and Marion, North Carolina. The acquisition expands TWFG's footprint in the eastern U.S. and brings a longtime local agency and its customers into TWFG's national branch network.

Highstreet Insurance Partners (HSIP) announced the acquisition of North Carolina-based Alta Benefits Agency to strengthen its Southeast employee benefits capabilities. The deal expands HSIP’s regional presence and adds Alta’s employee benefits expertise to Highstreet’s national insurance platform.

Alera Group, a national insurance and wealth management firm headquartered in Deerfield, Illinois, has acquired John Hackney Agency, an independent insurance agency based in Rocky Mount, North Carolina. The acquisition expands Alera Group’s presence and service capabilities in North Carolina; terms were not disclosed.

The Hilb Group has acquired Winston-Salem-based Allegacy Benefit Solutions, effective October 1, 2022, expanding Hilb's employee benefits capabilities and presence in the Southeast. Allegacy Benefit Solutions' leadership team, including Sharon Yarborough and Chad Huff, will join Hilb Group's Southeast regional operations to broaden services for local employer clients.

The Simplicity Group has acquired Financial Security Associates (FSA), a Raleigh, North Carolina-based firm specializing in life insurance, annuities and disability income. FSA will transition to the Simplicity brand and be led by Paige Blair as a partner, becoming the 34th distribution business to join Simplicity's partnership.

High Street Insurance Partners (HSIP), a Traverse City, Michigan-based insurance brokerage, acquired Southeastern Agency Group (SAG), a full-service insurance firm headquartered in Greensboro, North Carolina. The deal is an add-on to HSIP’s ongoing roll-up strategy as the firm continues rapid expansion of its community-focused agency network.

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.

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.

Tryon Title Agency, a North Carolina-based independent title insurance agency founded in 2007, was acquired in November 2021 by an undisclosed private equity platform with over $5 billion of assets under management. CEO Chris Corchiani will remain as CEO and retain a material ownership stake as the buyer pursues a proprietary roll-up strategy across the title industry.

Michigan-based High Street Insurance Partners (HSIP) has acquired First Security Insurance (FSI), an independent insurance agency headquartered in Hickory, North Carolina. FSI leaders Charles Connor IV and CEO Karl Sherrill will remain in leadership roles, with Sherrill also becoming principal and agency operations leader for HSIP; the deal is an add-on to HSIP's PE-backed platform.

Relation Insurance Services, a PE-backed national insurance brokerage, acquired the assets of Winterville, North Carolina-based Walker & Associates Services. The deal expands Relation’s personal lines and commercial lines presence in Eastern North Carolina; terms were not disclosed and David Walker will remain in a leadership role.

Accelerant, the PE-backed technology-driven insurance platform, has acquired Agribusiness Risk Underwriters (ARU), a U.S. specialist in poultry farm and agribusiness insurance underwriting and loss control. The deal expands Accelerant's specialty insurance capabilities and distribution into niche farm/ag classes while positioning ARU to scale within Accelerant's platform.

Relation Insurance Services, a PE-backed national insurance brokerage, has acquired the assets of Parks Insurance Group, a North Carolina-based insurance agency. Parks will join Relation's Main Street/small commercial platform, Relation Select, with Ron Parks continuing to lead the business; terms were not disclosed.

Simplicity Group completed the acquisition of Advisors Financial Group, an independent life and annuity insurance distribution business, effective February 1, 2021. Greg Patterson joined Simplicity as a partner and shareholder as part of the deal; Advisors Financial Group will operate as part of Simplicity’s distribution platform (the 19th organization to join).

The Hilb Group, LLC (THG) acquired North Carolina-based Dwayne Wilson Insurance & Financial Services, Inc., a full-service life and health insurance agency, effective December 31, 2020 (per the announcement). Dwayne Wilson and his team will join THG's Southeast region as the acquisition strengthens THG's employee benefits practice and regional presence; THG is a Carlyle Group portfolio company.

Relation Insurance Services acquired Michael Glick Agency, Inc. and Glick Insurance Group (collectively "Glick Insurance") and launched a new business unit called Relation Select to support small commercial and personal lines agencies, including former Nationwide-exclusive agents. The acquisition brings Glick's ~20 North Carolina locations into Relation's platform and aims to expand Relation's presence in the Mid-Atlantic and Southeast markets while offering partner agencies greater carrier access and resources.

Integrity Marketing Group, a leading independent distributor of life and health insurance products, acquired The Assurance Group and its affiliated lead generation business, Leads2Success. The deal brings The Assurance Group's 120 employees, 600 career agents and 5,000 brokerage agents onto Integrity's platform to accelerate growth and provide employee ownership and enhanced technology and back-office resources.

Relation Insurance Services, a PE-backed independent insurance brokerage, has acquired Summers Thompson Lowry, a Raleigh-based property & casualty insurance brokerage. The acquisition expands Relation's commercial risk management and P&C capabilities in the Raleigh–Durham–Chapel Hill region; Summers will continue operating under its name with Larry Summers remaining as head of the Raleigh office.

Integrity Marketing Group has acquired The Brokerage Resource, a North Carolina-based insurance marketing organization specializing in Medicare Supplement products. The Brokerage Resource's leadership (the Corey family) will join Integrity's ownership structure and the agency will leverage Integrity's distribution, technology, and back-office capabilities to expand its agent network and product offerings.

Hull & Company, LLC, a subsidiary of Brown & Brown, Inc., has acquired substantially all assets of The Colonial Group, Inc. and all issued and outstanding shares of its affiliate Colonial Premium Finance Company. The Colonial Group — a Greensboro, North Carolina-based managing general agency specializing in housing, recreational and specialty property & casualty insurance and premium financing — will continue operating as a stand-alone office within Brown & Brown's Wholesale Brokerage Segment.

Risk Strategies, a privately held national insurance brokerage, has acquired Atlas Insurance Management as part of its purchase of Atlas Group Limited and affiliated entities. The deal expands Risk Strategies’ captive insurance management capabilities and provides its first operating presence outside the United States through Atlas’ onshore and offshore domiciles.

Sovos, a global tax and regulatory compliance software provider, has acquired Booke Seminars from Aon to expand its statutory reporting and educational offerings for U.S. insurers. The acquisition adds Booke's insurance-focused seminars/webinars and federal income tax (FIT) filing and compliance software to Sovos' suite; terms were not disclosed.

The Hilb Group, LLC (a portfolio company of Abry Partners) acquired Charlotte-based Employee Benefit Advisors of the Carolinas, LLC effective November 1, 2019. EBA will join THG’s Southeast benefits operations, with EBA Principal Suzy Johnson joining THG’s team to support regional growth in employee benefits for small- to mid-market clients.

The Hilb Group, LLC (a portfolio company of Abry Partners) acquired Josh Williams Enterprises, Inc. d/b/a WNC Health Insurance, effective September 1, 2019. WNC, an Asheville-based employee benefits and health insurance brokerage, will continue operating under Josh Williams from its existing Asheville location as part of THG's Carolinas expansion.

Alera Group, a national insurance firm headquartered in Deerfield, Illinois, acquired TriSure Corporation, a Raleigh-based risk management and commercial P&C insurance advisory firm, effective March 1, 2019. The acquisition expands Alera Group’s capabilities and presence in North Carolina; TriSure will continue operating from its existing Raleigh location as TriSure Corporation, an Alera Group Company, LLC.

Hub International Limited (HUB) has acquired the assets of North Carolina-based Banyan Consulting Group, Inc., a specialist in employee benefits with offices in Greensboro, Raleigh and Charlotte. Banyan's CEO Alan Overbey will join HUB Carolinas as the transaction expands HUB Carolinas' benefits operations and regional footprint across North and South Carolina. Terms were not disclosed.

Arthur J. Gallagher & Co. (AJG) acquired McNeary, Inc., a Charlotte-based retail insurance broker specializing in commercial property/casualty, risk management and employee benefits, effective May 2016. The acquisition expands Gallagher's southeastern U.S. presence and strengthens its property/casualty and employee benefits capabilities; terms were not disclosed.

Hub International Limited acquired the assets of Raleigh-based RPG Solutions, Inc., a provider of employee benefits, HR services and training. RPG's founder Phil Gruber will join Hub Southeast and RPG's president Stacey Mangum will continue to report to him; terms were not disclosed.