M&A

The insurance broker expects to announce further related and complementary acquisitions in the near future.

Headquartered in Virginia, Simatree specializes in data analytics, technology consultation and digital transformation.

The Florida-based insurance franchisor will use the fresh capital to continue its national expansion strategy and invest in its technology platform.

Carriers are planning for inflationary threats and have been responding to major catastrophes, while the InsurTech and broking markets have driven M&A drama.

The deal follows a similar transaction on northeast business in January.

The reincarnated $9bn deal is moving a step closer to completion.

The deal is expected to close later this year, subject to usual regulatory approvals.

Through the acquisition, Kin will be able to expand operations to most remaining states – a $110bn home insurance market.

The number of notifications made in the first 18 months of a policy has slipped to 62% in 2021, a big step down from the 90% made in 2020.

With the acquisition of Michigan-based CWA, the MGA will expand its underwriting and placement operations in the inland marine, habitational, and miscellaneous E&S lines.

Following the transaction, Corporate Insurance founder Mark Schwartz and his team will join Brown & Brown’s operations in Ft Lauderdale, Florida.

The New York-based business provides integrated operational solutions for insurance companies.