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Around the P&C insurance industry: January 8, 2025

This week's update includes insurance industry news from FM, Clyde & Co. and more.

By PC360 Staff Writer | January 08, 2025 at 08:00 AM

FM has acquired Velocity Specialty Insurance Company, a leading excess & surplus insurance provider. The deal is expected to close in the first half of 2025, subject to regulatory approvals. Financial details of the transaction were not disclosed. With the increasing frequency and severity of secondary perils and other emerging risks, businesses are seeking E&S coverage for risks that traditional insurance is less likely to cover. Through the transaction, FM will expand its expertise and solutions to include E&S property insurance.

Clyde & Co. merged with Dallas law firm Tillman Batchelor LLP. Mark Tillman and Colin Batchelor have joined Clyde & Co.’s Dallas office as partners and will be joined by their team of six people. The merger is the latest expansion of Clyde & Co.’s North American and global insurance practice. Tillman Batchelor LLP served the litigation needs of domestic and international insurance carriers and their insureds, along with numerous other business entities on a direct representation basis throughout the United States.

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