One80, Cannasure Insurance Services
One80 Intermediaries has acquired Cannasure Insurance Services, an Ohio-based wholesale broker and managing general agent focused on the cannabis and hemp industry.
Cannasure is a national wholesale broker, program manager and third-party administrator that serves cultivators, dispensaries, extractors, processors, product manufacturers, testing labs, landlords and ancillary businesses in all states where cannabis and hemp are legal. It offers coverage on a monoline or package basis.
Boston, Massachusetts-based One80 Intermediaries is a privately held, national wholesaler and program manager with offices throughout the U.S. and Canada. The firm offers placement services and binding authority for property/casualty, financial lines, personal lines, life insurance, medical stop loss, alternative risk, warranty, lender-based insurance, travel/accident and health risks.
Amwins, Worldwide Facilities
Amwins Group has agreed to acquire Worldwide Facilities.
The addition of Worldwide broadens Amwins’ specialty capabilities and expands its footprint, especially on the West coast.
The acquisition is Amwins’ 50th acquisition. The combined firm will have more than 6,151 employees in 155 offices across the U.S. and place in excess of $24 billion in premium annually.
The Worldwide team, led by Davis Moore, will join Amwins’ leadership team, according to an announcement.
Based in Charlotte, North Carolina, Amwins operates through more than 125 offices globally and handles premium placements in excess of $22 billion annually. Its acquisitions over decades have included Stewart Smith, Quaker Risk, American Equity Underwriters, Beacon Risk Strategies, Colemont, THB Group of London, Gresham & Associates, Bliss & Glennon, Insurance Innovators Group, Networked Insurance Agents, Seacoast Brokers, Trident Claims Management, The Flood Insurance Agency, International Specialty Brokers and Stealth Partner Group.
Based in Los Angeles, Worldwide Facilities is a national wholesale insurance broker, managing general agent and program underwriter that has been in business since 1970. It reported handling $1.8 billion in gross written premium in 2019 and reached $2 billion in 2020 with 720 associates in 35 offices. Like Amwins, it has also grown in part through acquisitions that have included RIC General Agency, Trinity Underwriting Managers, Tennant Risk Services, Sullivan Brokers, Kevin Davis Insurance Services, Benchmark Management Group and Risk Management Advisory Group.
CRC Group, Federal Employee Defense Services
CRC Group, a national wholesale distributor of specialty insurance products, has acquired the assets of Washington D.C.-based Federal Employee Defense Services, a niche managing general underwriter specializing in professional liability coverage for federal government employees and contractors.
FEDS is headquartered in Bethesda, Maryland, and will continue to be led by President Tony Vergnetti. It will become part of CRC Group’s Program Division and will continue to operate under its current brand name. CRC Group and FEDS will work to integrate operations.
The Hilb Group, Rampart Brokerage Corporation & Affiliates
The Hilb Group LLC has completed its 100th acquisition by acquiring New York-based Rampart Brokerage Corporation & Affiliates.
Headquartered in Lake Success, New York, with nearly 200 employees and a 55-year history of serving clients in the New York tri-state area and across the U.S., RBC is a broker for upper middle-market commercial lines, high net worth personal lines, individual life and group benefits.
As a part of the acquisition, RBC’s leadership team, including Gary Morris, Robby Morris, Sandy Morris, Marc Blatt, Evan Portnoy and Steve Jaeger, along with the company’s associates, will join THG’s tri-state operations and continue to work out of their existing locations in New York, New Jersey and Pennsylvania.
THG is a property/casualty and employee benefits insurance brokerage and advisory firm headquartered in Richmond, Virginia. It is a portfolio company of The Carlyle Group, a global investment firm.
THG seeks to grow through strategic acquisitions and by leveraging its resources and expertise to drive organic growth in its acquired agencies. The company has completed more than 100 acquisitions and now has more than 100 offices in 20 states.
Hub International, Benefit Strategies Agency
Chicago-based global insurance brokerage, Hub International Limited, has acquired the assets of Benefit Strategies Agency LLC and Financial Strategies Agency LLC, headquartered in Findlay, Ohio.
Benefit Strategies Agency specializes in employee benefits, retirement and financial planning. Brett Montague, Rod Wood, Lorie Montague and Terri Kuntz, all managing principals of Benefit Strategies Agency, will join Hub Midwest East.
Hub International Limited provides risk management, insurance, employee benefits, retirement and wealth management products and services.
Patriot Growth Insurance Services, Strategic Benefits of Cincinnati
Patriot Growth Insurance Services LLC has added Strategic Benefits of Cincinnati to the Patriot platform.
SBC is a full-service employee benefits insurance agency based in Loveland, Ohio. Led by Partners Jennifer Homer and David Short, SBC has a dedicated team of 24 consultants. The agency provides a range of products with a focus on group medical, dental, long term disability and various other employee benefits offerings.
The partnership with SBC significantly strengthens Patriot’s existing employee benefits capabilities and expands the company’s geographic presence into the Ohio marketplace, according to Patriot’s announcement. Founded in 2019, Patriot is a national insurance services firm that partners with employee benefits and property/casualty agencies across the U.S.
World Insurance Associates, Corporate Risk Services
World Insurance Associates LLC has acquired Corporate Risk Services LLC and Midwest Risk Management Services Inc. of Rogers, Arkansas.
Corporate Risk Services is an independent insurance brokerage firm. Its products include workers’ compensation, as well as all aspects of commercial insurance from the traditional placement to alternative funding solutions. They specialize in a variety of exposures, including manufacturing, healthcare, schools, municipalities, retail and transportation.
Giordano, Halleran & Ciesla provided legal counsel to WIA. Kutak Rock provided legal counsel to Corporate Risk Services. No other advisors, diligence firms or legal counsel were disclosed.
World Insurance Associates is headquartered in Tinton Falls, New Jersey.
CRC Group, Griffin General Agency
CRC Group, a nationwide wholesale distributor of specialty insurance products, has hired the team and purchased the renewal rights for the business of Griffin General Agency Inc., a Houston-based managing general agency.
Led by President John Griffin, Griffin General Agency’s operational focus includes commercial property/casualty binding and personal lines of insurance.
The addition of Griffin continues CRC Group’s investment in the company’s binding franchise following the 2020 acquisitions of California-based W. Brown & Associates and Louisiana-based Specialty Risk Associates.
Additionally, CRC Binding has added more than 85 new producers and opened several new binding offices over the past 24 months.
Hub International, Wellspring Insurance Agency
Hub International Ltd., a full-service global insurance broker based in Chicago, has acquired the assets of Wellspring Insurance Agency Inc., located in Argyle, Texas. Wellspring Insurance Agency is an independent employee benefits firm that provides benefit solutions.
Rodney Dryden, president of Wellspring Insurance Agency, will join Hub Texas and report to Martin Yung, president and CEO of the region.
Alliant Insurance Services, Group Insurance Incorporated
Alliant Insurance Services has acquired Group Insurance Inc., a full-service employee benefits provider and general agency based in Baton Rouge, Louisiana.
The acquisition of GII adds a portfolio of group insurance products and services to Alliant’s national employee benefits platform, the company said. GII will be part of the Employee Benefits Group of Alliant.
Founded in 1971, Group Insurance and its brokers offer employee benefits solutions and consulting services that include health, life, disability, dental, vision, final expense, accident and various other ancillary products. In addition to its group insurance offerings, GII offers various individual insurance and ancillary products through its wholly owned subsidiary, Insurance Services of America.
GII President and CEO Dan Jumonville and his team will join Alliant and will continue to service its client base from its Baton Rouge headquarters.
KKR, Integrated Specialty Coverages
Global investment firm KKR is acquiring a majority interest in Integrated Specialty Coverages, a Carlsbad, California-based multi-line insurance distributor that utilizes advanced artificial intelligence engineering and data analytics to build its products. Sightway Capital, a Two Sigma private equity business that partnered with ISC beginning in 2018, is selling its majority position and will continue to hold a stake in the ISC as a minority shareholder.
ISC connects a network of insurance markets and retail/wholesale distribution channels through the use of artificial intelligence, proprietary technology and data analytics to deliver customized insurance programs for agents, brokers, carriers and reinsurers. ISC currently writes approximately $300 million of specialty premium annually across a number of industries including property, construction, transportation and hospitality.
With the investment by KKR, the company plans to continue to strengthen its presence within its core lines of business while expanding its platform to new markets. KKR is making its investment in ISC through its Americas XII Fund. The investment adds to KKR’s experience of investing in companies in the property/casualty insurance market, including USI, Alliant Insurance Services, Sedgwick and PURE.
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