2019 M&A News

Reinsurer SCOR Acquires Fund Manager Specializing in Insurance Linked Securities

French reinsurer SCOR said it had agreed to buy 100% of Coriolis Capital, an asset manager specialized ininsurance-linked securities, for an undisclosed amount. Coriolis Capital invests mainly in natural disaster bonds, options, collateralized reinsurance and climate derivatives. SCOR said the …

Arthur J. Gallagher & Co. Acquires RPA, Innovative Coverage Concepts

Arthur J. Gallagher & Co. has acquired Parsippany, N.J.-based RPA Insurance Services LLC and Innovative Coverage Concepts LLC. RPA Insurance Services is a provider of insurance and risk management services to the restaurant and hospitality industries. It operates from offices …

Arthur J. Gallagher Buys Minority Stake in India’s Edelweiss Insurance Brokers

Arthur J. Gallagher & Co. announced it has purchased a minority stake in Edelweiss Insurance Brokers Ltd. (EIBL), a wholly owned subsidiary of Edelweiss Group, the Indian diversified financial services conglomerate. The deal is subject to approval by the Insurance …

MS Amlin Acquires Stake in Specialist Reinsurance MGA Envelop Risk

MS Amlin announced the purchase of a strategic stake in Envelop Risk, a global specialist reinsurance managing general agent (MGA), which combines insurance expertise with artificial intelligence-driven cyber risk modeling. The investment sees MS Amlin take a minority strategic stake …

Tangram Insurance Services Acquires Assets of Pennsylvania’s GMG Underwriters

Tangram Insurance Services Inc., a managing general underwriter and program manager, has purchased the assets of Langhorne, Penn.-based managing general agent, GMG Underwriters (GMGU). The transaction became effective May 1, 2019. Matt Smerkanich, former owner and president of GMGU, has …

Arthur J. Gallagher Buys Swiss Broker Verbag Versicherungsberatungs

Rolling Meadows, Ill.-based Arthur J. Gallagher & Co. announced the acquisition of Swiss insurance broker Verbag Versicherungsberatungs AG. Terms of the transaction were not disclosed. Based in Zug, Switzerland, Verbag offers commercial lines, employee benefits, accident & health and high-net-worth …

Alera Group Acquires Pennsylvania’s ARMS Insurance Group

Alera Group, a national independent insurance agency, has acquired ARMS Insurance Group, effective May 1, 2019. ARMS, a general agency headquartered in Bethel Park, Penn., has served insurance brokers throughout western Pennsylvania and the surrounding states for more than 25 …

W.N. Tuscano Agency Agrees to Acquire Pennsylvania’s Insurance Markets Inc.

W.N. Tuscano Agency Inc. has signed an agreement to acquire Clarks Summit, Penn.-based Insurance Markets Inc. Founded in 1960, Insurance Markets Inc. is a managing general agency (MGA) and surplus lines broker serving clients primarily in Pennsylvania. The Insurance Markets …

Hub International Acquires Saskatchewan-Based Kelliher Agencies

Hub International Ltd., the Chicago-based global insurance broker, announced it has acquired the assets of Kelliher Agencies, headquartered in Kelliher, Saskatchewan, Canada. Terms of the transaction were not disclosed. Kelliher Agencies is a full service, independent insurance brokerage that provides …

The Hilb Group Acquires Summit Insurance Services

The Hilb Group LLC (THG) has acquired Summit Insurance Services LLC (SIS), the insurance operations of Summit Financial Group Inc. of Moorefield, West Virginia. The transaction became effective May 1, 2019. SIS is an insurance agency that primarily provides employee …