Enact Holdings announced its flagship legal entity, Enact Mortgage Insurance Corporation, has entered into two quota share reinsurance agreements with a broad panel of highly-rated reinsurers.
VIU by HUB acquired BIS Management Services, d.b.a. Insuritas. A leading embedded insurance provider for financial institutions, Insuritas partners with banks and credit unions to bolster their product offerings and enhance the customer journey. The move positions VIU for rapid expansion as it strengthens its roster of financial institution partners and opens its digital platform to new customers. Terms of the transaction were not disclosed.
Commercial Insurance Associates added an Employee Benefits practice area and brought on industry veterans David Johnson and Mason Johnston to spearhead the division.
Tokio Marine has retained its position as the largest partner to the U.S. Small Business Administration Surety Bond Guarantee Program, following a record year for the organization.
Arthur J. Gallagher acquired insurance broker AssuredPartners in a deal valued at over $13 billion. The deal will boost Gallagher's standing in the world of middle-market insurance, which deals with companies that make between $10 million and $1 billion annually. AssuredPartners is one of the largest insurance brokers in the U.S. The deal, expected to close in the first quarter of 2025, follows a slew of similar bets on the middle-market segment from rival insurance brokers Aon and Marsh McLennan over the past year.
Horace Mann Educators Corporation expanded into New Jersey. Already serving educators in over 40 states, Horace Mann is proud to bring its comprehensive suite of financial and insurance solutions to the educational community in New Jersey.
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