NSM, Ideal
Philadelphia-based program administrator NSM Insurance Group has acquired IDEAL Marine Insurance, a Chicago-based is a program specialist focused on non-construction, ocean and inland marine risks.
Geof McKernan, CEO of NSM, said the company is “aggressively seeking specialty underwriting or program acquisitions.”
Tillson
Tillson Recruiters, a new firm specializing in recruiting for insurance agencies, brokers and companies, has opened in Massachusetts.
The startup consists of husband and wife team Scot and Keri Tillson, who both serve was managing partners at the firm.
Scot Tillson previously spent eight years at a Boston-based recruiting firm where he helped establish and played a key role in growing its insurance division.
Keri Tillson previously spent over six years with a Boston-based recruiting firm and previously served as marketing director at a financial services firm in Boston.
Towers Watson, EMB
Professional services company Towers Watson will buy London-based consulting and software company EMB for an undisclosed price.
London-based EMB, which specializes in property/casualty actuarial software and consulting services, had sales of $64.4 million last year.
The deal is expected to close within the next 90 days and will slightly dilute Towers Watson’s earnings in its current fiscal year. But the company said it was not changing its expectations for the year.
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