Business Moves & Mergers News

Danish Insurer Qudos Ceases Underwriting, Pending Restructuring

Copenhagen-based Qudos Insurance will cease underwriting new business with immediate effect, pending a restructuring of the business, announced parent company New Nordic Advisors. New Nordic said it aims to re-launch the underwriting platform following a comprehensive audit. The restructuring project …

Google ‘Definitely’ Interested in Other Insurtech Investments Following Applied Systems

Google is eager to invest in other insurance technology companies well beyond its newly announced minority stake in Applied Systems, a principal investor with the global search engine giant said on Oct. 17. “We really like the market,” said Jesse …

Aon Forms New Ventures Group, Led by Chief Innovation Officer Goland

Aon plc announced it has formed a new unit called New Ventures Group, which is designed to increase Aon’s investment in innovative new businesses. The global unit will identify, incubate and deliver new sources of value for clients, explained an …

Seeman Holtz P&C Acquires Missouri Agency, Redel Insurance

Boca Raton, Florida-based Seeman Holtz Property & Casualty Inc. has acquired Redel Insurance Agency Inc., headquartered in Ballwin, Missouri. Redel Insurance Agency has been operating in Missouri for three-quarters of a century. The agency offers personal and commercial insurance, from …

Applied Systems Acquires Benefits Software Firm Dynamis

Fresh off its announcement of Google becoming a minority investor, insurance agency technology provider Applied Systems announced it has acquired Dynamis Software Corp., a Milwaukee-based provider of employee benefits software. This acquisition expands Applied System’s employee benefits offerings. The firm …

Update: Liberty Mutual Conducts Strategic Review of Pembroke Managing Agency

Liberty Mutual Insurance announced it is undertaking a strategic review of its London-based Pembroke Managing Agency Ltd., acquired through the lronshore purchase in May of 2017. The company has retained Evercore to serve as its adviser during the process. A …

Gallagher Acquires UK Commercial Broker Portmore

Global insurance broker, risk management services and consulting firm Gallagher announces the acquisition of Portmore Insurance Brokers Ltd. and Portmore Insurance Brokers (Wiltshire) Ltd. in the UK. Terms of the transaction were not disclosed. Based in Southampton, England, Portmore was …

Virginia’s Prosper Insurance Company to Expand Headquarters, Add 75 Jobs

Prosper Insurance Company has announced it will expand from its 6,000-square-foot headquarters in Virginia Beach, Va. The corporate investment is expected to be $750,000 with the buildout, furniture, fixtures and equipment. Prosper Insurance also said it anticipates growing from its …

Greenlight Capital Re Invests in Digital Insurance Processing Platform Click2Sure

Greenlight Re Innovations, part of Cayman Islands-headquartered Greenlight Capital Re Ltd., announced it has invested in the digital insurance platform, Click2Sure. South Africa-based Click2Sure has developed a comprehensive digital platform for distributing, managing and purchasing insurance at the point of …

Google Invests in Insurance Agency Software Firm Applied Systems

Giant Google’s investment arm has purchased a minority stake in Applied Systems, a provider of insurance technology and cloud-based software for independent agencies. The investment in Applied Systems is being made through CapitalG, the growth equity investment fund of Google’s …