M&A

Burke offers services in the surety bond, construction and oil and gas markets for in New Mexico and West Texas.

Private equity-backed, or hybrid buyers were responsible for 76% of all announced transactions in 2021, up from 70% in 2020.

SAS Insurance provides personal auto, homeowners, commercial and life insurance products in New Jersey.

Industry veteran Rick Girden runs the construction portfolio, which is projected to grow to $200mn this year.

Higher returns are available, but at the cost of increased revenue risk, slower results and potential cultural challenges.

The transaction comes after AFG paid almost $2.1bn in special dividends to shareholders in 2021, following its $3.5bn all-cash divestiture of its annuity business last year, and said it would pursue acquisitions.

With more than 350 staff, Pearl operates in all 50 states, occupying offices in Illinois and New York.

The deal will give the boutique investment bank access to additional resources for growth initiatives and acquisitions across the US and in Europe.

With the deal, the Traverse City, Michigan-based brokerage expects to expand its East Coast operations.

Grupo Gilinski has completed the acquisition of more than 118.9 Sura shares for $8.01 per share, valuing the investment in the carrier at around $952mn.

Financial services-focused private equity firm Lovell Minnick has invested in general agency Warner Pacific Insurance.

The deal will also allow the Boston-based broker to expand its broker relationships.