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The transaction marks the legacy carrier’s first acquisition in Continental Europe. -
In an interview, Phil Bowie said the company plans to access reinsurance capacity directly, and called current market conditions “the best” for savvy underwriters.
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The deal is the latest in a flurry of MGA M&A activity and comes after it sought to raise a balance sheet earlier in the year.
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The deal for top-10 MGA, which writes around $500mn in premiums, would mark a dramatic expansion in Acrisure’s underwriting capabilities.
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Inside P&C dissects the biggest deals of the year across broking, commercial lines and InsurTech.
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The teams at all six firms will continue serving in their existing roles, in addition to working across Alera Group’s 120 locations.
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The insurance broker expects to announce further related and complementary acquisitions in the near future.
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Headquartered in Virginia, Simatree specializes in data analytics, technology consultation and digital transformation.
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The Florida-based insurance franchisor will use the fresh capital to continue its national expansion strategy and invest in its technology platform.
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Carriers are planning for inflationary threats and have been responding to major catastrophes, while the InsurTech and broking markets have driven M&A drama.
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The deal follows a similar transaction on northeast business in January.
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The reincarnated $9bn deal is moving a step closer to completion.
