CORE INSURANCE

Hub International Strengthens Healthcare & Construction Insurance Capabilities With Acquisition Of The Assets Of Eaton-Provident Group In Arizona

Hub International Limited | October 08, 2021

Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, announced that it has acquired the assets of Eaton-Provident Group, LLC (EPG Insurance). Terms of the transaction were not disclosed.

Located in Scottsdale, Arizona, EPG Insurance is a property and casualty insurance firm serving businesses, families and individuals. EPG Insurance specializes in various industries, including senior living and construction, which supports Hub's Specialty practices by complementing and strengthening its existing capabilities.

EPG Insurance's keen understanding of the insurance business, their broad and multidisciplinary experience, and our shared culture and values makes them an ideal addition as we continue to grow in the region and guide clients,

- Randy Perkins, President of Hub Southwest.

EPG Insurance Principals Tim Schmidt, Greg Budiac and Jeff Schmidt, and the rest of the EPG Insurance team will join Hub Southwest.

We are committed to our clients and look forward to continuing to help them protect their businesses and assets with expanded services, solutions and value through Hub,

- Mr. Tim Schmidt.

About Hub's M&A Activities
Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise.

About Hub International
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 13,000 employees in offices located throughout North America, Hub's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow.

Spotlight

No single insurer is spared by fraud. Globally, fraud is estimated to cost the insurance industry hundreds of billions of GBP per year. This figure isn’t just fraud on an individual or opportunistic scale, but also the result of insurance fraud networks who represent an industry unto themselves.

Spotlight

No single insurer is spared by fraud. Globally, fraud is estimated to cost the insurance industry hundreds of billions of GBP per year. This figure isn’t just fraud on an individual or opportunistic scale, but also the result of insurance fraud networks who represent an industry unto themselves.

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LIFE INSURANCE, INSURANCE TECHNOLOGY

Simply Business to Offer Its Commercial Insurance Products through AmSuisse

PRnewswire | March 24, 2023

Simply Business, LLC., a Boston-based digital insurance company focused on small businesses, today announced it will offer several of its commercial insurance solutions through AmSuisse, an insurance wholesaler with an extensive portfolio of products and speciality programs designed for independent agents. "As we continue to expand our reach with independent agents, it's important to partner with trusted industry experts who share our vision of simplicity, choice and value," said Simply Business Group CEO David Summers. "This partnership with AmSuisse allows us to further our mission of providing small business owners with insurance solutions that fit their needs and helps us enable independent agents to efficiently serve their clients using our online platform." Through the AmSuisse online quoting experience, independent agents will have access to a variety of Simply Business' insurance products designed for micro and small businesses. "In today's tech-enabled environment, retail agents want a wide array of carrier and coverage options at their fingertips," said AmSuisse CEO Josh Hamann. "AmSuisse is extremely excited to partner with Simply Business to provide agents with access to a leading-edge digital small business insurance platform that is easy to navigate and designed to help them retain and grow their business." About Simply Business Simply Business is changing the way small business owners find business insurance by offering customers tailored insurance coverage online. The company began in the United Kingdom and expanded to the United States in 2017, naming Boston home. With thousands of customers, Simply Business has become a leader in the space through its commitment to a customer-first model, focusing heavily on simplicity, choice and value. About AmSuisse Established in 2013 and based in Katy, Texas, AmSuisse, Inc. has quickly risen to prominence as an insurance wholesaling leader. The company provides a broad range of insurance products, including many specialty programs for hard-to-place risks. Its founding goal is to provide its insurance agents and insurance broker partners with unrivaled service and selection. As a closed insurance wholesaler, it carefully selects the firms it works with, allowing it to deliver comprehensive insurance solutions, responsive service, and industry-leading support. AmSuisse believes in forging long-term business partnerships – a belief that has helped the company and its partners thrive in a competitive marketplace.

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CORE INSURANCE, INTELLECTUAL PROPERTY

NSM Insurance Group Acquires ELMC Subsidiaries from J.C. Flowers to Establish Platform in Medical Stop Loss and Managed Care Space

PRnewswire | March 21, 2023

NSM Insurance Group, the nation's leading specialty insurance provider with more than $1.5B in premium across 25+ niche insurance programs in the U.S. and U.K., today announced the completion of its acquisition of Sequoia Reinsurance Services, LLC, IOA Re, LLC and its divisions Rockport Benefits and Insurance Resources and Auditing Services, LLC, subsidiaries of ELMC Risk Solutions, LLC ("ELMC"), a portfolio company of J.C. Flowers & Co. ("J.C. Flowers"). J.C. Flowers is a leading private investment firm dedicated to investing globally in the financial services industry. "We're entrepreneurs at heart and we seize compelling opportunities to partner with high-performing companies with a proven track record of profitability," said Bill McKernan, President of NSM Insurance Group. "We're excited about the synergies we have with the individual teams and the significant growth potential for each business. Our team is committed, motivated and laser focused on driving the continued growth and innovation of these three businesses." "J.C. Flowers is proud to have supported ELMC's growth over the years to include some of the most well-respected managing general underwriters in the industry," said Eric Rahe, Managing Director and Co-President of J.C. Flowers. "This is a positive outcome, and we believe these companies will continue to thrive as part of NSM." Richard Fleder, CEO of ELMC added, "Sequoia Re, IOA Re and Rockport are remarkable MGUs with terrific management teams. We are very happy to have found a great home for them!" The acquired businesses are industry leaders in the field of medical stop loss insurance and managed care insurance — delivering robust and innovative insurance solutions to their clients and broking partners. "We're thrilled to join the NSM family of best-in-class insurance offerings that truly lead the way in delivering comprehensive products to our distribution partners," said John Parker, President and CEO of IOA Re. "NSM is well respected throughout the industry for building successful businesses and their unparalleled expertise, resources and capacity will help take our collective businesses to new heights." Dan Bolgar, President and CEO of Sequoia Reinsurance Services added, "The Sequoia team is delighted to join forces with NSM. Not only is this validation of what the team has built over our short history, but we are joining a firm whose very foundation is delivery of product and consistent value to its risk partners. We know NSM can help us navigate marketplace change while we continue to enhance and innovate our product offerings." Rockport Benefits is co-led by managing directors Amy Argeros and Heidi Herlihy, industry veterans with extensive experience in the medical stop loss industry. "We are truly energized about partnering with NSM to expand our presence in the marketplace," said Ms. Argeros and Ms. Herlihy. "As a highly-respected and reliable managing general underwriter known for delivering unparalleled service and creative stop loss solutions, we believe the future is very bright with NSM." Over the past 32 years, NSM has developed a winning formula for building the industry's most successful and sustainable programs, consistently outperforming competitors and driving industry-leading growth and profitability over the last four years. These acquisitions complement NSM's robust portfolio of specialty insurance programs and brands for the commercial P&C industry and consumer insurance — backed by the company's state-of-the-art resources, including IT, operations, marketing, HR and finance. About NSM Insurance Group NSM Insurance Group is the nation's leading specialty insurance provider, exclusively focused on building successful insurance programs. For more than 30 years, NSM has been committed to delivering industry-specific insurance programs that help agents meet the unique needs of their customers and fuel market growth through innovative development, underwriting, distribution and claims expertise. The company has built more than $1.5 billion in premium across 25+ specialty insurance programs and brands in the U.S. and U.K. focused on collector cars; pets; social services and behavioral health; addiction treatment; coastal condominiums; towing and garage; trucking; sports and fitness; professional liability for contractors, architects and engineers; habitational; staffing; and workers' compensation. For more information on NSM, visit nsminc.com. About J.C. Flowers & Co. J.C. Flowers is a leading private investment firm dedicated to investing globally in the financial services industry. Founded in 1998, the firm has approximately $4 billion of assets under management. J.C. Flowers has offices in New York, London and Palm Beach with a 21-person investment staff who have a combined 300+ years of experience. Over its 25-year history, J.C. Flowers has invested more than $17 billion of capital in 65 portfolio companies in 18 countries across a range of industry subsectors including banking, insurance and reinsurance, securities firms, specialty finance, and services and asset management. For more information, please visit www.jcfco.com.

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CORE INSURANCE, INSURANCE TECHNOLOGY

Branch Introduces Condo Insurance to Reinforce Its Bundled Offering

Branch | February 13, 2023

Branch®, a full-stack insurance business that uses technology, data, and automation to make home and vehicle insurance more accessible and affordable, has introduced condo insurance, increasing its selection of instantly bindable products. Condo insurance will be launched across Branch's accessible states, beginning with Ohio, in the coming months. Branch transformed the purchasing process by needing just a consumer's name and address to get an instant estimate for combined home and vehicle insurance. The National Association of Realtors reports that more than 10% of existing home sales in the last three years were condos. By offering a condo product, Branch can provide quick bundling to millions of more homeowners. Branch co-founder and CEO, Steve Lekas, said, "Bundling has always been at the core of what Branch can do, so we're thrilled to offer another product to help consumers quickly and easily bundle their insurance." He added, "By enabling more people to access Branch's bundle, and the deep savings that come with it, we're taking meaningful steps towards our mission of getting more people insured." (Source – PR Newswire) Including a condo product adds tremendous value to Branch's rapidly expanding independent agency channel, allowing Branch-appointed agents to meet their customers' insurance requirements better. Moreover, by increasing its product offerings, Branch provides its partners with a seamless, integrated experience. On the Branch website, consumers can rapidly acquire condo insurance with only a few pieces of information and bundle it with vehicle insurance. About Branch® Branch®, is a company that provides home and car insurance that is easy to purchase and designed to save money. Through its groundbreaking instant-bind capabilities, Branch eliminates all of the hassle involved with obtaining coverage, making it simple for clients to combine home and vehicle insurance. The Branch Insurance Exchange was designed as a reciprocal exchange to make insurance more accessible and inexpensive for everybody. Branch is a public benefit corporation and a certified B corporation dedicated to achieving the highest levels of social and environmental performance and responsibility.

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