Europe’s asset management industry is expected to enter a period of fresh consolidation as companies seek the scale required to compete in a complex investment landscape, offering insurers a chance to free up capital and simplify their business models.
M&A
Arthur J Gallagher has acquired Shepard Insurance Group, a retail insurance broker based in Old Greenwich, Connecticut.
Pennsylvania-based Yurconic Agency, which is a platform partner of Keystone Agency Partners (KAP), has acquired WR Sims Agency, based in Williamsport, Pennsylvania.
RedBird Capital Partners-backed Bishop Street Underwriters is set to secure a London platform as the expansive platform said it will acquire specialty MGA Landmark Underwriting.
Generali's share price rose by around 1 percent on Monday following reports that the Italian insurer was in early-stage talks to merge Generali Investments, its asset management business, with Natixis Investment Managers.
New Jersey-based World Insurance Associates has acquired North Dakota’s First International Insurance, a division of First International Bank & Trust.
Texas-based insurance, financial, and HR services firm Higginbotham has acquired Fitts Agency, a family-owned insurance agency based in Tuscaloosa, Alabama.
Platinum Specialty Underwriters is close to a deal to acquire the Greg Flood-led management liability start-up MGA Atri Insurance Services, in a transaction expected to value the business around 19x-20x Ebitda, Program Manager can reveal.
New Jersey-based BCA Insurance Group has joined Georgia-based Afore Insurance Services as its mid-Atlantic regional platform hub.
Arthur J Gallagher has acquired THB Chile, a Santiago-based retail insurance broker.
Pennsylvania-based sports insurance company A-G Specialty Insurance has acquired First Agency TPA, a Gallagher company specialising in student and athletic accident insurance.
MGA Optio Group has completed its previously announced acquisition of Den Hartigh Beheer & Exploitatie BV, an MGA based in the Netherlands and Brussels.
Utah-based insurance brokerage Trucordia has acquired the insurance business of the DeLuca Agency and Denver Insurance Brokerage, which has offices in Colorado, Utah, and Maryland.
One80 Intermediaries has bought Joe Horan and Jason Denechaud-led reinsurance MGU Waypoint Underwriting Management in what is understood to be the firm’s largest acquisition to date.
Guy Carpenter has reached agreement to acquire the remaining 51.5 percent of shares in Athens-based reinsurance broker Carpenter Turner.
