Around the P&C insurance industry: October 27, 2021
News from Hub International Limited, Arbella Insurance Group, Partners Group and more.
Hub International Limited launched its North American complex risk practice and tapped Mary-Beth Hahn, one of the industry’s top risk experts, to lead the practice. Bringing together and accelerating Hub’s network of specialists from its industry practices, placement, claims, analytics, captives and risk control teams, Hahn will address the growing need of clients seeking guidance on complex risk issues to help them better assess, understand and quantify their exposures and develop strategies to minimize their risks.
October 19 marked the thirteenth annual Pink Day, and Arbella Insurance Group employees marked the day by raising funds for the Dana-Farber Cancer Institute. The company raised over $20,000 to support cancer screenings and education for medically underserved populations. Those funds were matched by the Arbella Insurance Foundation for a total donation of $40,314.
Partners Group and Kohlberg & Company jointly acquired BluSky Restoration Contractors, a provider of restoration services for commercial, industrial, healthcare and multifamily real estate. Kohlberg and Partners Group acquired equal stakes through the transaction.
Acrisure acquired It’sSeg, an independent benefit management and insurance brokerage in Brazil. The partnership with It’sSeg marks Acrisure’s entry into the Brazilian market and represents a substantial expansion of its Latin American operations. The terms of the transaction were not disclosed. This international expansion comes amidst a year that has already seen Acrisure announce new asset management and real estate services divisions and surpass $3 billion in annual revenue.
Neptune Flood partnered with National Automotive Programs, LLC (NAPA), a Texas-based specialty insurance broker. This partnership extends Neptune’s platform to the NAPA family of over 22,000 locations nationally, providing access to an instant flood solution with greater and broader coverages than the National Flood Insurance Program under FEMA, according to the company.
Alera Group acquired Bagwell & Bagwell Insurance, a property and casualty agency providing risk management as well as personal and commercial insurance to clients in North Carolina.
BMS appointed Apex Group Ltd as its vendor for carbon footprint assessment & reporting services. Apex will provide BMS with the platform and tools to measure the company’s sources of carbon emissions and the support to implement plans to reduce their carbon footprint.
Related: Around the P&C insurance industry: October 20, 2021