Mergers and Acquisitions News

Great American Insurance to Acquire National Interstate Corporation

National Interstate Corp. (National Interstate), based in Richfield, Ohio, announced it has agreed to be acquired by Great American Insurance Co. (Great American), a wholly-owned subsidiary of American Financial Group Inc. (AFG). Under the terms of the agreement, Great American …

Bassman Completes Acquisition of Ascend Insurance Brokerage

Dallas-based Ascend Insurance Brokerage President and CEO Paul Bassman has closed on the acquisition of the company, purchasing the business from James Chippendale, who founded Ascend in 2001. Ascend specializes in the entertainment business and has placed coverage for hundreds of clients, …

HGGC/Integrity Partnership to Acquire Nebraska Insurance Marketing Firm

Palo Alto, Calif.-based middle market private equity firm HGGC, has completed its equity investment in Integrity Marketing Group LLC (Integrity), an independent distributor of life/ health insurance products focused on serving the senior market. Concurrently, HGGC and Integrity announced they …

Growth Partners: Equity Firm Kohlberg Invests in Wholesaler U.S. Risk

Dallas-based international specialty lines underwriting manager and wholesale broker U.S. Risk Insurance Group Inc. has agreed to partner with the private equity firm, Kohlberg & Co. With capital and two board members from Kohlberg, U.S. Risk plans to expand by …

Mesirow Insurance Joins Alliant Insurance Services’ Middle Market Unit

Chicago-based Mesirow Insurance Services (MIS), a division of Mesirow Financial, has joined Alliant Insurance Services’ middle market platform, Alliant Americas. Terms of the agreement were not disclosed. Founded in 1972, MIS is a full-service insurance brokerage and consultant specializing in …

Houston-Based Employee Benefits Firms to Merge

Advantage Benefits Solutions (ABS) and Collins Benefits Solutions, both based in Houston, are merging. Together, the two employee benefits firms manage collective premiums of $58 million, according to the merger announcement. The merger is led by Mark Stefanick of Advantage …

SFM Mutual Insurance Acquires Minnesota’s Barrier Free Access

SFM Mutual Insurance Co., a Midwest regional workers’ compensation insurer, has acquired Barrier Free Access, a Byron, Minn.-based provider of safe patient handling products, design consultation and training to medical facilities throughout the Upper Midwest. Through selling and training on …

AXA to Sell Serbian P/C and Life & Savings Units to Vienna Insurance

AXA announced it has entered into an agreement with Vienna Insurance Group to sell both its Life & Savings and Property & Casualty operations in Serbia and exit the Serbian market. Under the terms of the agreement, Vienna Insurance Group …

Hub International Buys Toronto-Based HSBI Benefits

Hub International Ltd., the Chicago-based global insurance brokerage, announced it has acquired HSBI Benefits Inc. Terms of the acquisition were not disclosed. Based in Toronto, Ontario, Canada, HSBI Benefits specializes in employee benefits insurance solutions. Curtis McCone, president of HSBI …

Nexus Acquires Beacon, Hong Kong-Based Marine MGA

Nexus Underwriting Management Ltd. has acquired 100 percent of the shareholding in Hong Kong-domiciled Beacon Underwriters Ltd., a marine managing general agent. Beacon was established in 2009 as a Lloyd’s coverholder to write marine cargo, hull and machinery and ports …