Hub International | March 08, 2022
Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, announced today that it has acquired the assets of Kuhl Insurance Agency, Inc. (Kuhl Insurance). Terms of the transaction were not disclosed.
Located in Morton, Illinois, Kuhl Insurance is an independent agency providing commercial and personal insurance, and employee benefits services. Kuhl Insurance specializes in the manufacturing, healthcare, social services, and construction industries, which supports Hub's Specialty practices by complementing and strengthening its existing capabilities.
The Kuhl Insurance team is highly regarded in southern Illinois, and they will be a strong addition to our team as we continue to expand further in the state, We look forward to offering our clients the benefits of their talent and experience."
Lerone Sidberry, CEO, Hub Midwest West.
Mike Kuhl, President of Kuhl Insurance, and the Kuhl Insurance team will join Hub Midwest West.
Joining Hub will provide us with additional depth of insurance carrier markets, resources and services necessary to expand our offerings to clients and continue growing our business."
Kuhl Insurance was represented by the consulting firm MarshBerry for the transaction
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 14,000 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.
Creative Planning | June 14, 2022
Rosen Capital Management has joined forces with Creative Planning LLC, one of the largest Registered Investment Advisers ("RIA") in the country. Rosen Capital Management has $114 million in AUM and brings 2 new employees into the Creative Planning fold, including the firm's CEO, Glenn Rosen.
Rosen Capital Management is a third-generation family business that began in 1948 as a life and health insurance agency, ultimately transitioning into a full-fledged financial planning and money management firm. They specialize in complete financial planning to include tax minimization strategies, wealth management, insurance needs and estate planning.
Creative Planning is excited to bring on the Rosen Capital Management team who will help us break deeper into the Georgia market, From our first conversations with the Rosen team, we knew that the fit would be perfect due to their work ethic, dedication to clients, and overall core values."
Peter Mallouk, CEO of Creative Planning.
We are excited to join the Creative Planning team and utilize their expanded resources and talent to better serve our clients, Rosen Capital Management is a family business, and we are excited to join Creative Planning and have our family grow with Peter and the rest of the team!"
With its latest acquisition, the second in just two short weeks, Creative Planning manages or advises on over $225 billion in assets across all 50 states and 65 countries with continued plans for growth throughout 2022. Additionally, Incap (Baltimore) served as financial advisor to Rosen Capital Management on the transaction.
About Creative Planning
Creative Planning, LLC is an independent wealth management firm that provides a financial planning led investment management approach, retirement planning, estate planning, trust services, tax planning and family office services for individuals as well as 401(k) and institutional clients. Creative Planning manages or advises on over $225 billion in assets across all 50 states and 65 countries, as of December 31, 2021.
Newpoint Financial Group SARL. | December 21, 2021
Novea, Inc., ("Novea") a financial technology (fintech) software company founded in 2015, announced today that it has closed $50 million in equity and $5 million debt financing. The equity proceeds will go towards wholly-owned subsidiaries of Novea, Jacana Warranty and Jacana Insurance, to support a proprietary user application platform it developed which is revolutionizing the consumer warranty and service contracts industry. The debt proceeds will support general corporate overhead expenses.
The investment is provided by Swiss-based Newpoint Financial Group, a global diversified financial services firm ("Newpoint") with operations located throughout Europe, United States and West Africa. The investment was made through Newpoint's U.S. subsidiary, Newpoint Financial Corp.
In exchange for Newpoint's $50 million equity investment, Novea has issued to Newpoint ten percent of its outstanding common stock and convertible redeemable preferred shares. The investment proceeds are being applied as statutory and solvency capital within Novea's insurance division, Jacana Insurance—bolstering its balance sheet for its global insurance underwriting commitments. As part of the transaction, Newpoint has also provided Novea a $5 million, five-year, revolving line of credit which Novea may draw down and use for corporate operational and overhead expenses. In addition, Newpoint was granted a warrant to purchase additional Novea common stock which may be exercised at Newpoint's discretion in an amount up to $50 million over the next ten years, which if exercised in total, increases the transaction value to $105 million. Other investment conditions include Newpoint having board of directors and risk committee representation rights, and Newpoint's reinsurance company, Newpoint RE having first right of refusal on all Novea reinsurance business opportunities as well as other customary covenants and monitoring rights.
"We couldn't have asked for a better financial and reinsurance partner than Newpoint Financial. With this funding, we not only ensure moving Novea to the next level, but we are able to reward our existing long-term investors with a significant appreciation of their Novea shares as this transaction imputes a $500 million market value of Novea. Over the past couple of months, we have been closing multiple new customer contracts which represent significant sales growth for 2022 and we are looking to close out this year's sales pipeline with contracts value in excess of $10 million in potential new sales."
-Jim Quinlan, CEO of Novea
Keith D. Beekmeyer, CEO of Newpoint stated "2021 has been a landmark year for Newpoint having closed $250 million in solvency capital investments into multiple insurance and reinsurance companies throughout Europe and the United States. We're pleased to end the year on a high note with this $50 million investment into Novea. We believe that Novea's technology and proprietary claims processing will redefine the consumer warranty marketplace and we are looking forward to a long term mutually prosperous partnership with them."
Iroko Securities, a Newpoint subsidiary, served as financial advisor to Newpoint. NMS Consulting served as strategic advisor to Novea.
About NOVEA, INC.
Novea Inc.is a financial services technology (FinTech) software company which has launched its proprietary user app, Jacana Warranty fully backed by Jacana Insurance, both wholly owned subsidiaries of Novea, Inc. Jacana Insurance is a captive specialty insurance carrier that offers warranties and service contracts on consumer products and electronics. Jacana Warranty has put the warranty buying power back into the hands of the consumer with the goal of becoming the consumer's ideal choice.
About Newpoint Financial Group SARL.
Newpoint Financial Group SARL., together with its global affiliates and subsidiaries is a global diversified financial services holding company which operates across multiple business units including insurance, reinsurance, insurance brokerage, investment banking, wealth management and asset management with operations located throughout Europe, United States and West Africa.
CRMNEXT | February 07, 2022
CRMNEXT, the world's leading digital technology solution for the banking and insurance industry, has launched Open Communication Platform (OCP) technology to accelerate customer delights, personalized products, service delivery and build loyalty through digital first experiences.
As banking and financial institutions embrace a "serve and sell anytime, anywhere" mentality, digital experiences are becoming critical. Open Communication Platform (OCP) helps enterprises move to a zero ops model, powered by one & done processes that can fundamentally do back-office work with STP and smart AI. This delivers a modern customer service and engagement platform for banks, financial services, and insurance providers powered with out-of-box AI capabilities.
Channels that OCP enables:
OCP for text: CRMNEXT customers can seamlessly plugin new channels like WhatsApp, twitter, google business messenger, Facebook, chatbots, voice triggered chatbots and more
OCP for voice: Clients can integrate with voice telephony channels like AWS connect, CTI, IVR, WebEx, Avaya and more, greatly enhancing the capabilities and efficiency of your contact centers
Some of OCP capabilities include:
Real time Business Fabric: Deliver concierge like experience with more real-time actions, intelligence and seamless handover across channels while preserving the context of the conversations.
SoftPhone Integration: Embed a third-party dialer to the action tray of your agent workbench's console view.
AI-driven Knowledge Base: Dynamic solutions to customer queries.
AI-driven Insight Cards: AI driven product offers, insights from customer interactions.
Sentiment Analysis: Proactively identify customer emotions with AI driven sentiment analysis.
Conference Chat with Supervisor: Agents can now consult their supervisor in real time.
Connected Workspace: Increase in customer engagement rates through connected workspace, that includes functionalities such as Facebook chat integration, chats in console view, speech to text recognition and more.
"Across every business function and industry, our customers are redefining their customer, employee, partner and product experiences. Open Communication Platform (OCP) continues to expand our vision of enabling companies realize speed, agility and efficiency in customer engagement. OCP creates a more connected customer experience by delivering instant connect, instant response, instant delight and significantly boosting first time resolutions."
-Mr. Sushil Tyagi, Director, CRMNEXT