Business Moves
Specialty insurer Beazley reached an agreement to acquire kWh Analytics. Terms of the deal were not disclosed.
kWh Analytics, a managing general agency, combines data with advanced analytics to deliver insurance and risk management solutions for clean energy assets in the U.S.
Beazley said kWh Analytics will add scalability and enhance its capabilities in modeling, underwriting and risk management across renewable energy portfolios. San Francisco, California-based kWh Analytics will be part of Beazley’s MAP (Marine, Accident & Political) Risks team.
kWh CEO Jason Kaminsky will report to Tim Turner, group head of MAP Risks and be a part of the transition underwriting strategy, led by Kelly Malynn, senior risk manager.
Last month, Zurich Insurance Group said it had agreed to buy London-based Beazley for $10.9 billion.
kWh’s licensed insurance subsidiary, Solar Energy Insurance Services, recently announced a renewal agreement with Aspen Specialty, expanding support of its property insurance offering for renewable energy assets and projects.
Risk Theory, a specialty insurance platform, completed the acquisition of Roundhill Express, a specialized managing general agent (MGA) underwriting commercial habitational properties throughout New York City.
Following the acquisition, Roundhill Express will continue operating under its established brand.
Founded in 2013 and headquartered in Dallas, Risk Theory operates 15 specialty programs across seven brands, with distribution reaching more than 2,000 producers nationwide.
The transaction marks Risk Theory’s first MGA acquisition. Policies written through the Roundhill Express platform will be supported by Amherst Specialty Insurance Co., Risk Theory’s affiliated surplus lines carrier.
Amherst Specialty recently acquired Jet Insurance Co., now operating as Amherst National Insurance Co.
Jet provides primarily surety bonds in the admitted market and joined Amherst Specialty as a 100% wholly owned subsidiary.
Patriot Growth Insurance Services acquired a new strategic partner, Morse Insurance Agency, a property/casualty insurance agency based in North Easton, Massachusetts.
Morse Insurance Agency operates multiple locations across the state, including offices in North Easton, Norton, Bridgewater and Marion. Morse Insurance Agency will continue to operate under its existing leadership while gaining access to Patriot’s expanded resources, strategic support and growth capabilities.
Founded in 2019, Patriot has more than 2,200 employees operating in over 100 locations across 29 states. Patriot is backed by GI Partners and Summit Partners.
Coastal-focused homeowners and flood insurance broker ShoreOne Insurance Managers, Inc. has been acquired by Totalis Program Underwriters, a New York specialty insurance platform that is part of NFP, an Aon company.
Terms of the deal were not disclosed. However, BrightShore Insurance Co., founded by ShoreOne, is not part of the transaction and will retain its current ownership.
Dedham, Massachusetts-based managing general agent ShoreOne offers a homeowners product that integrates comprehensive flood coverage, serving coastal markets across South Carolina, New Jersey, New York, Massachusetts and Rhode Island.
ShoreOne was founded in 2019 by Cameron Rhodes and Nick Steffey. It will continue to operate as an independent business unit within Totalis. Rhodes will succeed Nick Steffey as chief executive officer and report to John Mahoney, head of programs, Totalis. Steffey will remain involved with ShoreOne as an executive advisor, while maintaining his role as chairman of BrightShore.
Inszone Insurance Services, a provider of commercial, personal, and benefits insurance solutions, expanded its footprint in the Midwest through the acquisition of Ohio Valley Insurance, an established independent insurance agency.
Ohio Valley Insurance was founded by Dan Hardaway in 2003 as Ohio Valley Crop Insurance. The Ohio Valley Insurance team will remain in place, continuing to serve clients locally with the added backing, technology, and market access of Inszone Insurance Services.
Murray will stay on with Inszone, maintaining his active role in client service and agency leadership.
Through the acquisition, Inszone said it plans to further develop and expand its agricultural capabilities to better serve farming communities and agricultural businesses across the Midwest and beyond.
Relation Insurance Services acquired the assets of Rummel Associates Inc. Terms of the transaction were not disclosed.
Specializing in both commercial and personal insurance, Rummel is based in Chicago, Illinois.
Jared Rummel, owner of Rummel Associates, will continue managing that office as a valuable part of the Relation family.
Rummel was established in 1948.
Inszone Insurance Services acquired Jaffery Insurance & Financial Services, an independent insurance agency based in Omaha, Nebraska. This acquisition marks Inszone’s entrance into the Nebraska market and the company’s growing presence in the Midwest.
Founded in 2019 by Cyrus Jaffery, Jaffery Insurance specializes in personal lines with a focus on home and auto coverage.
Clients of Jaffery Insurance & Financial Services will continue to work with the same trusted agents while benefiting from Inszone’s expanded carrier access, advanced tools, and nationwide support.
WalkerHughes Insurance acquired Hometown Insurance Agency LLC, located in Independence, Missouri. This partnership marks WalkerHughes’ entry into the Kansas City metropolitan area.
Hometown Insurance Agency team members will remain with the firm.
WalkerHughes is a privately held, founder-led retail insurance brokerage headquartered in Indianapolis, Indiana.
In a three-way deal, TPG, an asset management firm, launched an insurance brokerage with offices in South Carolina.
That brokerage, Third Wave Insurance, has acquired Palmer & Cay, an insurance and employee benefits brokerage in Atlanta.
Palmer & Cay, founded in 1968, will serve as the flagship retail business for Third Wave and will continue to operate under its own name. Palmer & Cay focuses on commercial coverage for midsized to large corporate clients. Jack Cay is CEO and is the fifth generation of Cay family members to lead the firm.
Third Wave, with headquarters in Bluffton, South Carolina, offers a producer-focused model aimed at speeding the process. Brian Bair, an insurance industry veteran, is founder and CEO.
TPG, with offices in San Francisco, has $286 billion of assets under management.
Relation Insurance Services acquired the assets of Chinook Insurance Group LLC, based in Seattle, Washington.
Chinook Insurance Group focuses on commercial clients and brings specialized expertise in insurance services for the subsea and aquaculture industry.
The company also has additional expertise across directors and officers liability, employment practices liability, professional liability, cyber and kidnap and ransom.
Relation is an insurance brokerage that offers risk management and benefits consulting services across the U.S. with roughly 1,350 employees across more than 100 locations.
Relation is a privately held corporation backed by Aquiline Capital Partners, a private equity firm.
A-MAX Insurance acquired Best Buy Insurance, an Arizona-based agency. The deal marks A-MAX’s first physical expansion into the Arizona market.
Best Buy Insurance was established in 1996.
Headquartered in Dallas, Texas, A-MAX operates more than 200 locations nationwide, providing access to non-standard and standard auto, renters, homeowners, and commercial lines coverage. A-MAX serves customers across Texas, California, Arizona, Illinois and Indiana.
Risk Placement Services Inc. acquired Agoura Hills, California-based S Philips Surety & Insurance Services Inc.
The S Philips team will remain in its current location under the direction of Jeremy Crawford, head of RPS’s surety bond operations. S Philips provides surety bonds to agents and brokers on the West Coast.
RPS is the U.S. wholesale brokerage, binding authority and programs division of Arthur J. Gallagher & Co., a global insurance brokerage, risk management and consulting services firm headquartered in Rolling Meadows, Illinois.
Inszone Insurance Services acquired Streeter Brothers Insurance in Billings, Montana.
Streeter Brothers Insurance will continue operating from its current Billings location, with the existing team remaining in place.
Founded in 1922 by Delton and Delbert Streeter, Streeter Brothers Insurance has operated through multiple generations of ownership.
The agency was most recently owned by Linda Schmaing, who began her career with Streeter Brothers in 1986 and purchased the agency in 2016.
Sacramento, California-based Inszone is an insurance brokerage firm offering property/casualty and employee benefits services.