Berkshire Hathaway in Talks to Sell Workers’ Compensation Unit Applied Underwriters

Article 0 Comments Warren Buffett’s Berkshire Hathaway Inc. is in advanced discussions to sell its Applied Underwriters workers compensation unit to a consortium of insurance firms, people familiar with the matter said on Friday. The deal would be a rare divestment by Buffett, who has built a corporate empire of […]

China Regulator to Retain Control of Anbang Insurance Group Until Next Year

Article 0 Comments China’s banking and insurance regulator said on Friday it will extend its control of Anbang Insurance Group Co. Ltd. for one year to Feb. 22, 2020. The regulator will maintain the stable operation of Anbang and protect the interests of all relevant parties, the China Banking and […]

Private Equity Firm GTCR Returns to Take Majority Stake in AssuredPartners

Article 0 Comments Apax VIII, a fund advised by Apax Partners, has agreed to sell its entire stake in AssuredPartners, a growing U.S. insurance brokerage, to an investor group led by GTCR, a Chicago-based private equity firm. GTCR previously owned AssuredPartners from its inception in 2011 until its sale to […]

C&S Insurance Acquires Massachusetts’ Francis M. Walley Insurance Agency

Article 0 Comments C&S Insurance has acquired Dedham, Mass.-based Francis M. Walley Insurance Agency. Since assuming ownership in 2012, C&S Insurance second-generation owners Ben Cavallo and Keith Signoriello have completed seven agency acquisitions. Altogether, C&S Insurance – headquartered in Mansfield, Mass. – now maintains three locations, employs thirty team members […]

Allianz Targets Tech, Insurance Investments with $1.1B Venture Capital Fund

Article 0 Comments European insurer Allianz SE is increasing the size of its tech investment fund to 1 billion euros ($1.1 billion), making it one of the largest corporate-backed venture funds in Europe. Allianz X was launched in 2016 with a 430 million-euro checkbook and has done about 15 deals, […]

Apollo Global Management Completes Acquisition of Aspen Insurance

Article 0 Comments Apollo Global Management LLC, the investment firm led by Leon Black, has completed its acquisition of Aspen Insurance Holdings for $42.75 per share in cash, with an equity value of approximately $2.6 billion. The transaction, which was first announced on Aug. 28, 2018, closed on Feb. 15, […]

Ryan Specialty Group to Acquire Texas’ Myron F. Steves & Co.

Article 0 Comments Chicago-based Ryan Specialty Group LLC has reached an agreement to acquire the assets and operations of Myron F. Steves & Co. (Myron Steves), an independently owned wholesale insurance brokerage headquartered in Houston, Texas, with additional offices in Austin, Dallas and San Antonio. The Myron Steves team will […]

Hub International Acquires Assets of Toronto-Based Firstbrook Pointon Benefits

Article 0 Comments Hub International Ltd., the Chicago-based insurance broker, announced it has acquired the assets of Firstbrook Pointon Benefits Inc. Terms of the transaction were not disclosed. Based in Toronto, Ontario in Canada, Firstbrook Pointon Benefits is a full-service employee benefits consulting firm providing a broad spectrum of benefits […]

Insurtech-Driven MGA, Agile, Appointed as StarStone Partner in Australasia

Article 0 Comments Agile Underwriting Services Pty Ltd., the insurtech-driven managing general agency (MGA) and Lloyd’s coverholder, announced it has been appointed as a representative agent for global specialty insurer, StarStone, in Australia and New Zealand. Agile has been a strategic partner since StarStone launched its Australian underwriting capability in […]

Hanover Partners with RSA Group to Expand International Specialty Offerings

Article 0 Comments The Hanover Insurance Group, Inc. has a new agreement with the multinational insurer RSA Group to join its global network as a U.S. strategic network partner. This relationship expands The Hanover’s international specialty capabilities for domestic businesses with overseas risks. Through the company’s partnership with London-based RSA […]