Business Moves & Mergers News

Lloyd’s to Move Some Business to EU if UK Loses Post-Brexit Passporting

The Lloyd’s of London insurance market is already working on plans to move some business to the European Union, aiming to be ready for the shift as soon as Britain starts divorce proceedings from the bloc, its chairman said on …

3rd Party Managing Agent Asta Invests in Specialist MGA OverArk

Asta, the London-based third party managing agent and specialist MGA investor, has concluded a transaction to finance the development of OverArk Ltd. Asta will take a minority equity stake in OverArk and will also support the company’s infrastructure, including finance …

Metromile Auto Insurer Gets $192 Million, Mark Cuban and Mosaic’s 50 State Licenses

Fueled with $191.5 million from billionaire Mark Cuban and other investors, Metromile Inc. is now poised to complete its journey as a full-service car insurance company. The startup Wednesday said it had acquired Mosaic Insurance Inc. — a $22 million …

Global Risk Partners Acquires U.K.-based SLK General Insurance Services  

Global Risk Partners Ltd. (GRP), the London-based insurance broking and managing general agent investment vehicle, has acquired the commercial and personal insurance broker, SLK General Insurance Services Ltd., based in Ely, Cambridgeshire in the U.K. SLK Insurance’s management team will …

USI Insurance Services to Acquire Johnson & Bryan in Atlanta

USI Insurance Services has entered into an agreement in principle to acquire Johnson & Bryan, a retail property-casualty and employee benefits insurance brokerage firm based in Atlanta. The acquisition will expand USI’s footprint into a new city and market where …

Evergreen Insurance in New York Acquires Sheridan’s Assets

Evergreen Insurance & Risk Management, a Monsey, New York, based insurance brokerage for investment real estate, has acquired the assets of Sheridan & Company Group LLC and T.J. Sheridan & Co. Inc. Terms of the deal, which closed in September, …

New Verisk Unit to Serve Energy Sector Insurance, Risk Management

Verisk Insurance Solutions has launched a new energy insurance unit focused on risk assessment, rating, and risk modeling for the oil and gas, petrochemicals, power generation, and metals and mining industries. To develop the new unit for use by the …

XL Catlin to Buy Australian Underwriting Agency Brooklyn

Specialist insurer XL Catlin has agreed to acquire Australia’s  Brooklyn Underwriting from Paul Hines. Brooklyn is an underwriting agency in Australia and a Lloyd’s approved coverholder, that has been operating in the Australian market for more than two decades, Brooklyn …

AIG Selling Stake in Ascot Lloyd’s Syndicate; Will Keep Bermuda, Reinsurance Ties

American International Group Inc. has agreed to sell its interest in Ascot Underwriting Holdings Ltd. (AUHL) and related syndicate-funding subsidiary Ascot Corporate Name Ltd. to Canada Pension Plan Investment Board (CPPIB) for $1.1 billion. Total consideration for the deal is …

Confie Acquires Miami-Based Absolute Insurance Agency

Confie, a national provider of personal and commercial lines insurance, has acquired Absolute Insurance Agency, Inc., in Miami. Absolute, established in 1989, focuses on providing non-standard auto insurance. Confie has completed 14 acquisitions thus far in 2016. According to CEO …