Newfront
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The deal valued the tech-driven broker at over ~21x 2025 adjusted Ebitda, suggesting a hefty premium. -
WTW still has meaningful capital to deploy next year but will provide details on its next earnings call.
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Newfront’s business units will be combined with Risk & Broking and Health, Wealth & Career.
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The restructuring affected less than 5% of its workforce, according to the company.
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Harney has also worked at Alliant, WTW and Marsh, among other firms.
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Schawe joins the San Francisco-based brokerage after over four years at Marsh, where he was managing director and head of office.
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The executive joined the San Francisco-based brokerage in 2020 after almost six years at MCM, where she was marine account manager.
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Based in Boston, Wilson will report to Newfront’s head of executive risk, Deirdre Finn.
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Prior to joining Newfront, Wagner worked as Marsh’s central zone growth leader, overseeing 18 offices throughout central US.
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The executive specializes in the real estate and manufacturing markets.
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The executive will lead Newfront’s insurance, benefits and retirement services.
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The executive joins the San Francisco-based brokerage after stints at Aon, Lockton and Chubb.
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The new executive’s primary focus will be serving clients in the consumer-packaged goods space.
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The executive joins the San Francisco-headquartered broker after over six years at Marsh, where she served as vice president based in Atlanta.
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According to court documents, eight of the broker’s former employees departed for the InsurTech’s new Boston office over a two-week period.
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The industry veteran joins the San Francisco-based brokerage after nine years at Hub’s cyber and tech practice.
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The team includes founding partners Michael Talmanson and Brian Kelleher, who will also serve as P&C EVP and SVP, respectively.
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The InsurTech called the broker a “serial litigant”, notorious for enforcing restrictive covenants to former employees.
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The industry veteran of 21 years is the San Francisco-based InsurTech brokerage’s first independent director.
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Simpson spent 15 years at Marsh’s commercial and private client divisions.
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Valued at $2.2bn following the raise, the InsurTech brokerage is also seeking to grow its expertise in various classes, including aviation and agriculture.
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InsurTech brokerage Newfront has hired Kevin Thomas as its new associate vice president and P&C producer, as its hiring spree across different business lines continues.
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Bringing more than 20 years’ experience in tech and financial services to Newfront, Weingart is the second P&C producer recruited from Hub this month.
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Industry veteran Beau Freyermuth worked at Hub International for 20 years before jumping to Newfront.
