Business Moves & Mergers News

Alera Group Acquires Barnes Insurance & Financial Services of Florida

Alera Group, a national employee benefits, property and casualty, risk management and wealth management firm, has acquired Barnes Insurance & Financial Services (BIAFS) of Florida. BIAFS is a benefits agency with two locations in northwest Florida. Founded in 2005, this …

TrueNorth Acquires Colorado’s Jewell Insurance

TrueNorth Companies has acquired Greenwood Village, Colorado-based Jewell Insurance. Jewell Insurance will adopt the TrueNorth name and brand to further expand the firm’s presence throughout Colorado. Located in Greenwood Village, Jewell Insurance has established a strong reputation for trust, expertise …

StarStone Launches Casualty Consortium for Australia, New Zealand Markets

StarStone, the global specialty insurer, has launched a casualty consortium targeted at the Australian and New Zealand markets. The consortium is led by StarStone’s Mark Hunt and has begun underwriting business. StarStone’s Lloyd’s coverholder in Australia – StarStone Underwriting Australia …

Icahn Halts Bid to Block Cigna’s Takeover of Express Scripts

Activist investor Carl Icahn has dropped his fight to block Cigna Corp.’s $54 billion acquisition of Express Scripts Holding Co. after two prominent shareholder advisory firms came out in support of the deal. Institutional Shareholder Services Inc. and Glass Lewis …

AmWINS Targets Marine Insurance with Creation of 2 Specialty MGAs

Global insurance wholesale brokerage AmWINS Group has formed two specialty managing general agencies focused on the marine industry, AmWINS Specialty Logistics Underwriters (ASLU) and Sentinel Marine Underwriters (SMU). Argonaut Insurance Co. is providing the insurance capacity for both ASLU and …

UK Insurer ESure Receives $1.5 Billion Offer from Bain Capital

ESure Group Plc has received an unsolicited offer of about 1.17 billion pounds ($1.5 billion) from Bain Capital Private Equity LP as private equity firms seek to consolidate the insurance industry. The offer of about 280 pence a share in …

China’s Tech-Focused Insurer Ping An May Be Poised for Major Asian Growth Leap

China’s Ping An Insurance (Group) Co. has 23,000 research staff, 500 big-data scientists and spends billions of dollars a year on R&D. Last year, it attracted 46 million new customers, equivalent to the population of Spain — almost all of …

Norman-Spencer Acquires Arizona’s American Insurance Professionals

Norman-Spencer Agency Inc. (NSA) has acquired American Insurance Professionals (AIP), a nationwide insurance broker based in Phoenix, Arizona, specializing in title agents errors and omissions. AIP has more than 30 years of experience in providing errors and omissions insurance, crime …

Workers’ Comp Insurtech Pie Insurance Raises $11 Million

Pie Insurance, an online seller of workers’ compensation policies to small-and-medium-sized businesses, reported it has completed an $11 million Series A funding round. The company, a full stack managing general agent (MGA) operation, currently offers its online buying process that …

Higginbotham Acquires Aviation Specialist, Colt Risk Management

Fort Worth, Texas-based Higginbotham has acquired Colt Risk Management Services (CRMS). CRMS is an independent commercial insurance broker specializing in aviation risk. The CRMS team has moved to Higginbotham’s Friendswood office, giving that location a combined staff of nearly 40 …