Broking

Broker consolidator PIB in sale talks with Apax

Brendan McManus-led PIB Group is closing in on a sale to private equity giant Apax Partners as the acquisitive UK broker consolidator looks to fuel the next stage of its expansion, The Insurer understands.

Tigermar adds JLT marine veteran Colla to London team

Broker Tigermar has added to its London-based team with the hire of marine market veteran Richard Colla from Marsh JLT Specialty.

AssuredPartners acquires top 100 US agency Murray

Expansive US broker AssuredPartners has acquired Murray Insurance Associates, which has a team of 170 and $31mn in annualised revenues.

BMS hires Willis Re’s Gordon in continued US reinsurance push

BMS has added Kevin Gordon to its US treaty team as the London-headquartered intermediary continues to build out its regional presence.

Truist bullish on organic growth drivers in 2021

CRC and McGriff parent Truist Insurance Holdings has given a bullish assessment of the prospects for organic growth in 2021, highlighting accelerated pricing, stable exposure units and strong E&S growth in an outlook that is likely to be seen as a positive indicator for other brokers when they report in the coming weeks.

Truist Insurance Holdings organic growth trimmed to 2.9%

US publicly traded insurance broker stocks could react negatively today after McGriff and CRC parent Truist Insurance Holdings reported fourth-quarter organic growth of 2.9 percent, well down on the prior-year period and sequentially lower than Q3 2020.

Liiba puts Brexit and Covid-19 at centre of 2021 agenda

The London and International Insurance Brokers’ Association (Liiba) has set out its plans for 2021 with the body pledging to work closely to support members’ Brexit solutions in the year ahead.

Expansive broker Nardac adds industry veterans to newly formed board

Wholesale broking start-up Nardac Insurance Services has assembled a high profile advisory board that includes industry veterans Skip Cooper, Paul Lindeboom, Chris London and Marshall Nadel, The Insurer can reveal.

Reinsurance broking veteran Eyre takes Stonybrook advisor role

Boutique advisory firm Stonybrook Capital & Risk Management has signed up former Guy Carpenter, JLT Re and Towers Watson executive Bill Eyre as a strategic advisor as it continues to build its business in the middle market segment.

Newly formed Alkeme reveals national retail platform with GCP backing

Alkeme Holdings, which was formed last year through the merger of seven Californian brokerages, has announced the creation of a national retail insurance platform sponsored by private equity investor GCP Capital Partners, a former owner of giant consolidator Acrisure.

Lloyd’s broker W Denis creates Lithuania branch to serve EU

Lloyd’s broker W Denis has created a Lithuanian branch in response to the UK’s exit from the EU.

Hub makes ninth acquisition announcement of 2021 with Shields deal

Hub’s acquisitive start to 2021 has continued with a deal for the assets of Alabama-based Shields Insurance Agency.

Hilb buys Michigan-based broker Owen Moore

Carlyle Group-backed US broker The Hilb Group (THG) has acquired Michigan-based Owen Moore Insurance Agency (OMA), a full-service property casualty agency.

Messy Q4 earnings expected but focus will be on 2021 outlook

As the Q4 earnings season for the US publicly traded P&C sector gets under way this week with Travelers and Truist, a potentially noisy quarter for carriers is expected as they update on Covid-19 reserves and elevated cat activity.

Alliant hires WTW’s Gregory for public entity group

Lauren Gregory has been appointed as senior vice president, public entity at Alliant Specialty Group, with the new hire joining from Willis Towers Watson.

USI buys Colorado-based broker CB Insurance

USI Insurance Services has acquired CB Insurance, one of the largest insurance brokers in Colorado.

Ed and Besso parent renamed Corant Global

Corant Global is today unveiled as the new name for BGC Insurance (BGCI), the owner of London wholesale brokers Ed and Besso and other UK/international intermediaries with combined revenues of $175mn.

Miller launches private client offering with trio of hires

London broker Miller has entered the private client market with the hire of a trio of high net worth (HNW) specialists from Aon, Howden and Zurich.

AssuredPartners continues UK expansion with Scottish broker deal

AssuredPartners is set to make another acquisition in the UK as the Florida-based broker continues its build out on both sides of the Atlantic.

Alliant acquires Seafax and Stance as it continues build-out

Alliant has completed its fifth and sixth deals of 2021 with the fast-growing US broker adding Seafax Inc and Stance Renewable Risk Partners to its roster of companies.

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