AmWINS Group, Inc., a global distributor of specialty insurance products and services, has completed the acquisition of Atlantic Risk Specialists (ARS), a full-service wholesaler and managing general agent comprised of two entities: Atlantic Risk Specialists, Inc. and ARS-Latiff, LLC. ARS, which has offices in New Jersey, New York, and Florida, will become part of AmWINS’ Brokerage division and strengthen the firm’s property and casualty capabilities.
Arthur J. Gallagher & Co. (AJG) completed the previously disclosed acquisition of Jardine Lloyd Thompson Group’s global aerospace operations on June 1, 2019.
Valent Group, an independently owned risk consulting and insurance firm in Alabama and division of EBSCO Industries, has joined RiskProNet International, an association of independent insurance brokers in North America. Valent Group provides risk consulting for businesses, employer benefit groups and individuals. Professional services include claims advocacy, loss control analysis, legal and human resource compliance, data analysis and wellness consulting.
Arturo, an artificial intelligence (AI) and deep-learning property analytics start-up, announced the close of Seed Series Transaction, with lead investor and Arturo co-developer American Family Insurance. Following the close of the transaction, Madison-based American Family Insurance will remain a customer as well as an investor in Arturo, having conducted three years of research on the application of artificial intelligence (AI) and deep learning to satellite, aerial, drone, and ground-level imagery to accurately assess physical property characteristics for residential and commercial properties.
National insurance brokerage and risk management firm Risk Strategies has acquired MainStreet Consulting Group, a north Houston-based brokerage. Terms of the deal were not disclosed. Established in 2003 and headquartered just outside of Houston in Conroe, TX, MainStreet Consulting Group primarily offers a range of policies and coverage for commercial clients in a variety of industries, from manufacturing to construction.
Global tax software provider Sovos will acquire Eagle Technology Management (ETM), which provides statutory financial reporting and insurance premium tax software to insurers, and unclaimed property reporting solutions and services to financial institutions, corporations and insurers in the United States. The terms of the deal were not disclosed.
Argo Pro, a member of Argo Group International Holdings, Ltd., an international underwriter of specialty insurance and reinsurance, announced a new product, Private Company PROtectSM. The packaged professional liability product gives private companies access to a range of coverage, including directors and officers, employment practices and fiduciary liability. Private Company PROtect allows policyholders to purchase one or more management liability and professional liability coverage options with separate or shared limits. Each policy can be customized to meet specific risk-management needs.
Insurance broking veteran Steve McGill and a team of insurance executives have partnered with Warburg Pincus, a leading global private equity firm focused on growth investing, to launch McGill & Partners, a new specialty risk solutions business. The business will focus on strategic risk placement and advice for corporate clients, particularly those with complex insurance requirements. The company will offer clients a differentiated value proposition and comprehensive access to risk capital globally and will be headquartered in London with an office in New York.