Hi Friends! It is good to be back with you after the holiday break. We hope everyone got some time away from work and is ready to start 2025. Before we get into our regular business for the week, a quick message. Our hearts go out to all those affected by the California wildfires. We have been following the updates and seen the devastation and destruction and hope the area can find safety and comfort in the chaos. The insurance industry will certainly have a role in rebuilding and we will follow how this works and make an impact. As far as what is happening as we kick off 2025, we are following more M&A activity which we expected with the headwinds that began last year. In addition, insurtechs and traditional insurers alike are raising capital and launching new businesses and two executive moves were notable among the many that are often part of the new year organization changes of insurers. Let’s explore the three things we learned this week. |
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Ryan Specialty Acquires and TIH Divests As M&A Trend ContinuesThe pace of M&A continues to build momentum picking right up where we left off and the end of last year. Specialty platforms continue to drive high valuations and attract the attention of investors looking to grow by acquiring these businesses to bolster their capabilities and expand market reach. Together, these deals highlight the evolving priorities in the insurance landscape, as firms like Ryan Specialty and AmeriLife focus on innovation and market leadership. Ryan Specialty’s acquisition of Velocity Risk Underwriters continues their recent string of niche acquisitions helping to grow their MGU platform. The acquisition enhances Ryan Specialty’s property catastrophe offerings and strengthens its position as a leading delegated authority platform complimenting the other recent acquisitions they have announced. By integrating Velocity’s tech-driven underwriting capabilities, Ryan Specialty is poised to drive growth through innovation and data-driven insights in the property segment. Meanwhile, TIH Insurance Holdings continues strategic maneuvering with a divestiture, announcing AmeriLife’s agreement to acquire Crump Life Insurance Services and Hanleigh Management. Crump, a leading U.S. distributor , positions AmeriLife to expand its footprint in life insurance and retirement product distribution. This acquisition strengthens AmeriLife’s wealth distribution capabilities, enabling tailored solutions for agents, advisors, and clients. |
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Insurtechs and Traditional Insurers Accelerate GrowthInsurtechs and traditional insurers alike are seizing opportunities to drive growth through strategic investments, reinsurance partnerships, and new ventures, reflecting a trend of innovation and expansion across the industry. Roamly, a digital insurance technology company, has broadened its reinsurance partnerships, collaborating with SiriusPoint, Spinnaker, Apollo, ICW, Vantage, and Ladder Re. This expansion enhances its AI-powered platform, enabling insurers to develop innovative products, streamline operations, and improve customer experiences, furthering Roamly’s push for industry-wide growth. Matic Insurance, secured $30 million in funding from Vistara Growth to scale its embedded insurance platform. Offering home, auto, and personal lines products to financial institutions, Matic’s platform supports mortgage servicers and banks. The capital injection will strengthen its technology and expand distribution partnerships, showcasing the appeal of embedded insurance solutions. Traditional insurers are also innovating, as seen with Old Republic’s launch of Old Republic Cyber Inc. This new subsidiary focuses on cyber and technology E&O insurance products, leveraging leadership with extensive industry experience to address evolving risks. It marks Old Republic’s seventh specialty company in nine years, further diversifying its General Insurance Group. In Bermuda, Helix Underwriting Partners expanded into the U.S. with Helix USA, led by Greg Butler. Offering property insurance capacity of up to $10 million per risk, this new entity targets Total Insured Values (TIV) between $50 million and $100 million. The move complements Helix Bermuda’s focus on larger TIVs, underscoring the MGA’s intent to deliver tailored solutions across markets. |
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AON & Everest Executive Moves Signal Leadership Shifts in the Insurance IndustryTwo notable executive transitions stand out among the customary organizational changes marking the start of the new year, reflecting strategic leadership adjustments at top firms. These moves underscore the importance of seasoned leadership in steering firms through periods of change and innovation in an increasingly complex insurance landscape. Everest Group, Ltd. has named Jim Williamson as Acting CEO and Board Member, following the departure of Juan C. Andrade, who is moving on to lead USAA. Williamson, a seasoned industry leader with 20 years of experience, joined Everest in 2020 after holding senior roles at The Hartford, Chubb, and ACE. His appointment marks a pivotal moment for Everest as it transitions leadership to navigate evolving market dynamics. Meanwhile, John Neal, the CEO of Lloyd’s of London, has been appointed as Aon’s global CEO of Reinsurance and Chairman of Climate Solutions. Neal will take on these roles after concluding his tenure at Lloyd’s, where he has served since 2018. At Aon, he will focus on tackling complex climate-related risks and driving growth in reinsurance operations. Neal’s extensive leadership experience, including at QBE and Ensign, positions him to address critical challenges and opportunities in these key areas. |
Join us as we continue to explore the headlines and news shaping the insurance sector, and stay tuned for more insights on the unfolding narrative of our industry! Stay productive, stay safe and stay in touch! |