Insurance Acquisitions in Tennessee

EverPeak Insurance, a subsidiary of Pinnacol Assurance, has acquired Method Insurance (a workers' compensation MGA) to build a unified, national workers' compensation solution for brokers and employers. The deal expands EverPeak's geographic footprint and capabilities—integrating Method’s carrier partnerships, agency distribution, claims management, and loss-prevention expertise with EverPeak/Attune’s digital platform and underwriting resources.

Marsh McLennan Agency (MMA), a business of Marsh, has acquired Robins Insurance, a Nashville-based independent insurance agency. Terms were not disclosed; all Robins employees, including CEO Van Robins, will remain at the Nashville office as MMA expands its presence in the Nashville market.

King Risk Partners, a top-100 national insurance brokerage headquartered in Gainesville, Florida, has acquired Pigg Insurance, an independent family-run agency based in Hendersonville, Tennessee. The acquisition expands King Risk Partners' footprint in Tennessee and the broader Southeastern United States and will allow Pigg Insurance to broaden its personal and business insurance offerings under King Risk's platform.

Sentry Insurance completed the $1.7 billion acquisition of The General from American Family Insurance, consolidating its position in the non-standard auto insurance market. The acquisition brings The General's ~1,300 associates into Sentry's organization and will make The General Sentry's primary brand for the NSA market, combining Dairyland's independent agent network with The General's direct-to-consumer expertise.

Sedgwick announced a strategic investment from Altas Partners, with Altas committing $1.0 billion of equity while current investors — led by The Carlyle Group and Stone Point Capital — remain and will make additional investments. The transaction implies a total enterprise value of approximately $13.2 billion, with Carlyle retaining its control position; the deal is expected to close in Q4 2024 and Sedgwick will remain an independent, privately held company.

Hub International Limited acquired the assets of Wyatt Insurance Services, Inc., an independent insurance agency with locations in Knoxville and Clarksville, Tennessee. The deal expands Hub's commercial insurance, nonprofit and employee benefits capabilities in the region; terms were not disclosed.

Reverence Capital Partners has agreed to acquire a majority stake in Sunstar Insurance Group, a Memphis-based independent retail insurance broker focused on Commercial P&C, Personal P&C and Employee Benefits. Sunstar’s management will remain in place and roll a material portion of proceeds, while Reverence will provide capital and support to accelerate Sunstar’s organic growth and tuck-in acquisitions across the Southeast and Midwest.

Alliant Insurance Services, Inc. acquired Acceptance Insurance Agency of Tennessee, Inc. (AITN), the retail agency operations of First Acceptance Corporation, for up to $120 million in cash and contingent payments. The transaction transfers AITN's 288 leased retail locations (operating in 13 states) to Alliant; Confie (an Alliant portfolio company) and certain affiliates will operate as independent agents for First Acceptance Insurance Group's non-standard auto products going forward.

Arthur J. Gallagher & Co. acquired Nashville-based Bernard Benefits and Bernard Healthcare Financial Planning, subsidiaries of Bernard Health. The acquisition adds small-group health and employee benefits brokerage and individual health insurance financial planning capabilities to Gallagher’s South Central region operations; terms were not disclosed.

Integrity Marketing Group has acquired Consolidated Marketing Group (CMG), an independent Medicare-focused marketing organization led by Steve Ruth, to bring CMG onto Integrity's insurtech platform and support national growth. Financial terms were not disclosed; the deal gives CMG access to Integrity's technology, shared services and marketing resources to expand its agent distribution and footprint across the U.S.

Arthur J. Gallagher & Co. (Gallagher) has acquired Anderson Benson, a Nashville-based retail insurance broker and risk management firm with niche expertise in the entertainment sector and specializations in hospitality, construction and transportation. The Anderson Benson team will remain in Nashville and operate under Gallagher's Mid-South retail property/casualty brokerage leadership; terms were not disclosed.

Marsh McLennan Agency (MMA), a subsidiary of Marsh, has acquired Bradley Insurance Agency, a commercial insurance broker based in Knoxville, Tennessee. The transaction expands MMA's presence in eastern Tennessee; all Bradley Insurance employees, including owners Kendall and Kevin Bradley, will join MMA.

Rains Insurance, Inc., a wholly owned subsidiary of SmartFinancial/SmartBank, acquired the operating assets of Chattanooga-based Sunbelt Group, LLC (Sunbelt Insurance), effective September 1, 2022. The acquisition expands Rains' footprint in Tennessee and adds Sunbelt’s personal, commercial, life/health and transportation insurance capabilities to Rains' platform.

Carousel Capital partnered with Reliance Partners' management and existing investor Lamp Post Group to recapitalize Reliance Partners, a Chattanooga-based commercial insurance broker focused on the transportation industry. The recapitalization will provide capital and strategic support to help Reliance scale its premium volume (nearly $500 million today) and pursue its goal of exceeding $1 billion in gross written premiums.

Overland Park-based Virtus LLC announced a partnership/merger with Memphis-based Kemmons Wilson Insurance Group (KWIG), bringing KWIG’s hospitality-focused insurance practice into Virtus. The combined firm will have 100+ employees, an in-force book of business exceeding $250 million (premium) and roughly $20 million in revenue, placing Virtus inside the Top 100 U.S. insurance brokerages; the Wilson family will keep a seat on Virtus’ board.

Oakbridge Insurance Agency LLC announced a partnership with The Assurance Center, an independent property & casualty insurance agency headquartered in Knoxville, Tennessee. The deal brings The Assurance Center's all-female team and local commercial and personal P&C capabilities into Oakbridge's partnership model, expanding Oakbridge's presence in East Tennessee and adding municipal/public-entity carrier access and risk-management services.

Acrisure has entered into an agreement to bring Brentwood Services, Inc. into the Acrisure Partner network; the deal was finalized on July 1, 2022. Brentwood Services, a Tennessee-based provider of insurance-related claims and third-party administration services, will retain its identity while leveraging Acrisure's technology, resources and entrepreneurial network to accelerate growth.

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.

AmeriLife Group, LLC has acquired Senior Market Advisors (SMA), a fast-growing field marketing organization (FMO) that supports independent insurance agents in the senior/Medicare market. The deal combines AmeriLife's national distribution scale with SMA's agent tools and technology to expand distribution capabilities and better serve agents and consumers.

Assurant, Inc. acquired EPG Insurance, Inc. for $43 million in cash. The acquisition brings EPG's ~60 employees and its service-contract and commercial-equipment insurance capabilities into Assurant to expand service contract offerings, strengthen distribution through dealers and grow Assurant's commercial equipment segment.

Patriot Growth Insurance Services has partnered with V.R. Williams & Company, a full-service insurance agency based in Winchester, Tennessee, adding the firm's 22 insurance professionals and proprietary national pilot car insurance program to the Patriot platform. The deal expands Patriot's property & casualty and employee benefits capabilities and furthers its geographic expansion in the Southeastern United States; Patriot is backed by growth equity investor Summit Partners.

Integrity Marketing Group, the Dallas-based distributor of life and health insurance products, has acquired Southern Insurance Group, a Tennessee-based field marketing organization specializing in Medicare Advantage. Southern Insurance's leadership team (the Gilliam family) will become owners in Integrity; financial terms were not disclosed.

Specialty Program Group LLC (SPG) has acquired Avant, LLC, a Tennessee-based transportation program administrator and wholesale brokerage with specialty cannabis and supermarket program divisions. Avant’s leadership will remain in place, with CEO Scott Hendricks assuming leadership of transportation within SPG; terms were not disclosed.

Propel Insurance, a portfolio company of Flexpoint Ford, has acquired HealthCare Services (HCS), a boutique risk-management and insurance consulting firm based in Knoxville, Tennessee that specializes in senior living organizations. The acquisition expands Propel's senior living practice, strengthens its southeast presence (Knoxville and Charlotte hubs) and adds industry expertise to Propel's national platform; the combined agency will generate more than $120 million of annual revenue and operate seven U.S. offices.

Sunstar Insurance Group completed a majority recapitalization with BBH Capital Partners, with Sunstar management and key employees remaining significant shareholders. The investment provides capital to accelerate Sunstar's organic growth and M&A strategy; LNC Partners will remain a lender and Piper Sandler served as Sunstar's exclusive financial advisor.

Baldwin Krystyn Sherman Partners (BKS-Partners), the middle-market operating subsidiary of BRP Group, acquired substantially all assets of Tennessee-based Trinity Benefit Advisors, Inc. and Russ Blakely & Associates, LLC. The acquisitions expand BRP/BKS-Partners’ employee benefits and insurance distribution capabilities in the Southeastern United States and add a book of business that generated approximately $17.3 million in annual revenue.

Hub International Limited acquired the assets of Hatchett Insurance Agency, LLC, a family-owned independent insurance agency based in Winchester, Tennessee. The Hatchett team, led by CEO Nelson Hatchett, will join Hub Mid-South and remain in their current office; financial terms were not disclosed.

Hub International Limited has acquired the assets of Harris, Madden, Powell, Stallings & Brown, Inc. (HMP), a full-service commercial, surety, employee benefits and personal lines agency based in Memphis, Tennessee. The deal expands Hub's Mid‑South footprint and strengthens its specialty practices serving construction, distribution, manufacturing and healthcare clients; HMP's leadership and full-time employees will remain in place in Memphis and Oxford, Mississippi.

USI Insurance Services has acquired Franklin, Tennessee-based Full Service Insurance Agency, Inc., a regional independent insurance agency specializing in commercial insurance, employee benefits and personal risk solutions. The deal expands USI's presence and capabilities in Middle Tennessee, bringing Full Service Insurance's local team and clients onto USI's USI ONE Advantage platform; terms were not disclosed.

Hub International Limited acquired Crichton, Brandon, Jackson & Ward, Inc. (d/b/a The Crichton Group), a Nashville-based commercial and employee benefits insurance agency. The deal creates a new regional Hub Mid‑South operation covering Tennessee and Kentucky and strengthens Hub's specialty capabilities in construction, real estate, healthcare and nonprofit markets.

Alera Group, a Deerfield, Illinois-based independent insurance firm, has acquired Group Benefits LLC of Memphis, Tennessee, effective July 1, 2017. The acquisition expands Alera Group's middle-market employee benefits presence in the Mid-South and provides Group Benefits clients access to national resources and best practices.

HUB International Limited has acquired the assets of Cowan Benefit Services, Inc., an employee benefits brokerage based in Brentwood, Tennessee; terms were not disclosed. Matt Cowan, CEO of Cowan, will join Hub Gulf South to support ongoing Tennessee operations and Hub’s regional growth plans in employee benefits.