NEXT Insurance, established in 2016, specialises in digital insurance solutions tailored for small business owners in the US. 

The company has reported a top line of $548m in 2024 and currently serves over 600,000 customers with a workforce of around 700 employees.  

NEXT Insurance’s offerings, which include general liability and workers’ compensation, are delivered through a digital platform. 

The acquisition process began with the signing of a definitive agreement in March 2025, which placed the valuation of NEXT Insurance at $2.6bn for the entirety of its shares.  

Prior to the transaction, ERGO held a 29% stake in NEXT Insurance. 

With the completion of the transaction, which met all required conditions including regulatory approvals, NEXT Insurance becomes an integral part of ERGO’s management structure.  

This acquisition marks its entry into the US insurance market, targeting the small and medium-sized business segment. 

The transaction is expected to be mutually beneficial, with NEXT Insurance’s proprietary technology stack and its digital, automated underwriting and pricing platform complementing ERGO’s business operations.  

Conversely, ERGO’s expertise in insurance is anticipated to support the continued growth of NEXT Insurance. 

ERGO Group CEO Markus Rieß said: “Today’s transaction closing represents an important milestone in establishing ourselves as a relevant insurance provider in the USA. Together with NEXT Insurance, we will seize the considerable growth potential offered by this attractive market as we expand our existing business portfolio.  

“Through the combination of NEXT Insurance’s technologically driven, successful market approach and ERGO’s insurance expertise, we will deliver profitable growth and added value for all our stakeholders.” 

This acquisition follows ERGO Group’s recent consolidation of its travel and health insurance businesses in Denmark and Norway, respectively, into a single entity.

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The investment, which values Ardonagh at $14bn, witnessed participation from co-investors associated with Stone Point, as well as Madison Dearborn Partners and HPS Investment Partners.  

The transaction was first announced in December 2024. 

Stone Point now holds a significant stake in Ardonagh, joining existing shareholders including Madison Dearborn Partners, HPS Investment Partners, and a wholly owned subsidiary of the Abu Dhabi Investment Authority.  

Stone Point co-CEO Jim Carey said: “We are excited to partner with Ardonagh, as well as with MDP, HPS and ADIA. Ardonagh has distinguished itself as a leading platform in the global insurance distribution industry, and we believe that the company is well-positioned for continued growth.” 

Ardonagh, which was founded in 2017 through the amalgamation of various UK insurance entities, has grown into a global broking group, placing $18bn of premiums annually.  

The group has completed 68 acquisitions in the past year, including the merger with Markerstudy’s personal lines business and the take-private of PSC Insurance Group in Australia. 

David Ross, CEO of The Ardonagh Group, said: “Stone Point’s investment and the success of the co-investment process stand together as a resounding endorsement of Ardonagh. Amid a backdrop of global economic uncertainty, our unique proposition, track record and global platform attracted world-class investors who share our vision.” 

The group’s capital structure was recently simplified via a refinancing in February 2025, followed by the launch of in March 2025, an initiative aimed at integrating machine learning and data enrichment into its operations. 

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The move was initially announced in December last year, with both companies holding an equity stake of nearly 15%. 

Chariot Re has undertaken its first reinsurance transaction with a MetLife subsidiary, taking on the reinsurance of roughly $10bn in liabilities.  

These liabilities include structured settlement annuity contracts and group annuity contracts from pension risk transfers that were initially issued by MetLife. 

Chariot Re has additional financial support from lead investor Chubb and other investors.  

MetLife Investment Management and General Atlantic have been appointed as the exclusive external asset managers for Chariot Re, tasked with managing the company’s investment portfolio. 

MetLife president and CEO Michel Khalaf said: “This transaction with cosponsor General Atlantic represents a significant step in establishing Chariot Re as a premier global provider of innovative reinsurance solutions.  

“For MetLife, our strategic partnership with Chariot Re supports growth in our diversified retirement platform and asset management business, two key priorities of our New Frontier strategy.” 

Cynthia Smith, who has over 30 years of experience, has been named as CEO of Chariot Re.  

Smith’s prior role involved leading MetLife’s Group benefits regional business. 

Smith said: “We are launching Chariot Re from a position of strength with high-quality liabilities, a seasoned leadership team, and strong sponsors and investors, in order to meet the growing demand for life and annuity reinsurance solutions around the world.” 

The board of directors for Chariot Re comprises individuals with experience in the global insurance and asset management industries, including current and former executives from MetLife, General Atlantic, Chubb, and other notable entities.  

General Atlantic chair and CEO Bill Ford said: “Together with MetLife, one of the leading and largest global insurance companies, we are committed to supporting Chariot Re as it delivers high-quality reinsurance solutions, with a focus on long-term value creation, underpinned by disciplined growth and thoughtful risk management.” 

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The deal was first announced in March 2025.  

The agreement involves Unum America ceding $3.4bn of individual long-term care (LTC) reserves and nearly $120m of in-force individual disability income (IDI) premium to Fortitude Re on a coinsurance basis. 

The transaction encompasses a portion of the individual Unum LTC insurance policies, representing 19% of the company’s total LTC block, and a quota share of IDI policies reinsured from an affiliate, which constitutes 20% of company’s total in-force IDI premium.  

The deal is expected to generate a capital benefit of roughly $100m to Unum. 

As part of the arrangement, Fortitude Re will retrocede biometric risk to a reinsurer, while Unum will retain its service and administration functions for the reinsured business. 

Legal advisory for the transaction was provided by Debevoise & Plimpton for Unum, and Sidley Austin for Fortitude Re. 

Unum president and CEO Richard P. McKenney said: “With the close of this transaction, we have achieved a significant milestone in reducing the company’s exposure to the legacy long-term care business.  

“Looking forward, we remain focused on further reducing our risk profile, delivering growth in our core businesses, optimising our capital, and delivering value for our shareholders.” 

This transaction follows Fortitude Re’s closure of a $4bn reinsurance deal in March with Taiyo Life Insurance Company, a subsidiary of T&D Holdings, which involved the reinsurance of a portion of Taiyo Life’s whole life annuity business. 

Taiyo Life will continue to service and administer the reinsured policies. 

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The deal was originally announced in January 2025. 

The acquisition is expected to enhance Nationwide’s product offerings by expanding its capabilities in selling stop-loss insurance, particularly to small businesses.  

Nationwide CEO Kirt Walker said: “This acquisition expands the capabilities, specialised expertise and strong partnerships of our financial services organisation, positioning our company as a leading provider in the employer stop-loss industry.  

“As a company committed to protecting people, businesses and futures with extraordinary care, enhancing our employer stop-loss segment helps us continue to meet the needs of business owners today and into the future.”  

Additionally, Lindsey Murray, previously Allstate Health’s COO, has joined Nationwide to lead its newly established Group Benefits segment.  

Her responsibilities at Allstate included serving as executive vice-president of the product, pricing, and underwriting team within the health and benefits division, managing several business lines such as voluntary benefits and individual health. 

The Allstate Corporation CEO, president, and chair Tom Wilson said: “The sale delivers strong shareholder value and improves growth opportunities for Group Health by joining Nationwide’s stop-loss insurance business.

“Selling the Group Health and Employer Voluntary Benefits businesses for a combined $3.25bn demonstrates the strength of these businesses and Allstate’s strategic approach to capital management.” 

Allstate CFO Jess Merten added: “The sale of Group Health is expected to generate a financial book gain of approximately $500m.”  

This April, Allstate completed the divestiture of its employer voluntary benefits business to StanCorp Financial Group, also known as The Standard, in a separate transaction valued at nearly $2bn.  

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CMA’s decision follows an investigation initiated this May to determine whether the transaction would lead to a significant lessening of competition in the market.

The authority has determined that the merger does not require a second-phase investigation.  

CMA had invited submissions from interested parties during its review. 

Aviva reached an agreement in December 2024 to acquire Direct Line, a major UK insurer with brands such as Churchill and Green Flag.  

The offer will result in Direct Line shareholders holding nearly 12.5% of the combined company’s issued and to-be-issued share capital. 

The acquisition is effective as of yesterday (1 July), with Direct Line’s shares expected to be delisted and cancelled tomorrow, reported the Wall Street Journal.  

Two weeks prior, Aviva secured approvals from the Financial Conduct Authority, the Prudential Regulation Authority, and the Solicitors Regulation Authority. 

An earlier report from the Financial Times suggested that the merger forms a group with a combined market capitalisation of about £16.6bn in the UK motor insurance market. 

In its first-quarter 2025 financial results, Aviva reported a 9% rise in general insurance premiums, totalling £2.9bn, compared to £2.7bn in the same period of the previous year. 

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Financial terms of the deal remain undisclosed.  

Knight’s Solutions provides services that complement those offered by Hancock, including ladder assist, virtual assist, direct inspections, and post-construction services. 

The operational integration of the two companies is scheduled to take place over the next 90 days.  

As part of the acquisition, Knight’s Solutions’ owner Ryan Knight will assume the role of AVP, with immediate effect.  

He will report to Ray Tant, Hancock inspections and estimating senior vice president. 

Hancock Claims Consultants’ founder and executive chairman Brad Hancock said: “We are excited to have Knight’s Solutions joining the Hancock team. Both companies have a common history and shared culture of delivering service excellence to the property claims industry. With the addition of their team, we are able to provide an even greater level of support for our combined customer base.” 

Ryan Knight added: “This brings together two teams that believe in hard work, in-depth knowledge, complete and fulfilled reporting, and a true dedication to our craft — the kind that bridges the gap between top-tier inspectors and the highest level of documentation across the insurance industry.  

“We’ve built something strong here at Knight’s, and now we’re stepping into a new chapter with even more opportunities to grow, improve, and serve more carriers — all while staying true to who we are.” 

Hancock, founded in 2003, specialises in field inspections for property insurers and also offers interior inspections, estimating, property contents services, engineering services, and mitigation and repair services, which includes tree removal. 

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The transaction, which values the equity at £275m ($377m), was financed from B.P. Marsh’s existing cash reserves. 

The additional shareholding was split equally from Pantheon’s founders, Robert Dowman and Michael Lee. 

Pantheon is an independent broker in the Lloyd’s and London insurance market. 

It is projected to achieve an adjusted EBITDA of around £18m for the financial year ending 31 December 2025.  

The broker has expanded its offerings to include global property, innovation & technology, and delegated authorities, in addition to its initial focus on casualty and professional lines. 

B.P. Marsh has also arranged a £5m revolving loan facility for Pantheon, with £3.5m drawn upon the deal’s completion.  

This funding is intended to support Pantheon’s continued growth through organic expansion, strategic hiring, and potential mergers and acquisitions. 

In B.P. Marsh’s latest full-year results to 31 January 2025, the valuation of its stake in Pantheon had increased by 150% from the previous financial year. 

Pantheon Founder and CEO Robert Dowman stated: “B.P. Marsh has been a true partner to Pantheon since day one, sharing our vision for building a best-in-class specialist broker. Their ongoing support, both in equity and growth capital, enables us to remain agile and opportunistic as we continue expanding our capabilities and strengthening our market position.”  

B.P. Marsh chief investment officer and Pantheon board nominee director Dan Topping stated: ” Since our initial investment, Pantheon has exceeded expectations in terms of both financial performance and strategic execution.” 

“We remain highly confident in Pantheon’s continued trajectory and are excited to support the next phase of its growth.” 

B.P. Marsh’s initial 25% investment in Pantheon was made when the company was established in partnership with Robert Dowman in June 2023.  

In June 2025, B.P. Marsh acquired a 27% stake in Cameron Specialty, a London-based specialty managing general agent. 

The post B.P. Marsh raises stake in Pantheon to 39%   appeared first on Life Insurance International.

The acquisition will be executed through a reinsurance transaction, with financial terms remain undisclosed. 

Dearborn Group offers employer groups a range of ancillary benefits such as life, disability, dental, vision, supplemental health and medical coverage in the US. 

With this transaction, Symetra will assume responsibility for Dearborn Group’s portfolio, which includes group and individual life insurance, accidental death and dismemberment, and both short-term and long-term group disability insurance.  

Additionally, the acquisition covers paid family leave, medical leave, and absence management services. 

Furthermore, Symetra has signed a product distribution agreement with HCSC.  

Under the terms of the agreement, once the transaction is closed, Symetra’s L&D products will be distributed exclusively to HCSC’s healthcare customers for a multi-year period. 

The completion of the transaction is projected for the latter half of 2025, pending the regulatory consents and customary closing conditions. 

Symetra Financial Corporation CEO and president Margaret Meister said: “Symetra’s strategic plan envisions opportunities across many parts of our business. Dearborn Group’s well-regarded life and disability business complements our own, allowing us to reach a wider range of employer groups and accelerating the growth of our workforce benefits line.  

“In addition, the distribution agreement with HCSC will significantly broaden the reach of our workforce benefits products.”  

Following the completion of the deal, Dearborn Group aims to redirect its focus towards its dental, vision, and supplemental health product lines, which have been experiencing growth. 

HCSC chief strategy officer and Diversified Businesses president Arun Prasad stated: “This agreement further enhances the focus of HCSC and Dearborn Group on expanding access to health care by providing market-leading solutions critical to being the partner of choice for the health benefits and care coordination needs of individuals of all ages and all reimbursement arrangements.  

“Concurrently, the transaction provides our life and disability customers with a partner that will further enhance the value of the services provided to them.”  

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The company intends to list these shares on the New York Stock Exchange under the ticker symbol “ARX.”  

The timing, number of shares to be offered, and the price range for the proposed offering have not yet been determined.  

The company operates a technology-powered platform that connects specialty insurance underwriters, managing general agents (MGAs), referred to as “Members,” with risk capital partners, including insurers, reinsurers, and institutional investors. 

The platform aims to reduce information asymmetries and operational barriers in the traditional insurance value chain by leveraging proprietary technology to share high-fidelity data and insights with participants.  

As of 31 March 2025, Accelerant reported 232 members and 96 risk capital partners on its platform and achieved a compounded annual growth rate of 217% in Exchange Written Premium since its inception.  

For the same period, Accelerant recorded net income attributable to the company of $6.5m and total revenues of $178m. 

The net proceeds from the proposed offering are intended to be used to redeem some convertible preference shares and fund a management fee payable to an affiliate of Altamont Capital, its investor.  

The remainder will be allocated to general corporate needs and to support underwriting capital needs as the business grows.  

In addition, Accelerant may utilise a part of the proceeds to purchase products, services, or technologies, or to acquire or invest in businesses, including MGAs, insurance intermediaries, insurance companies, technology firms, or service providers within its ecosystem. 

Morgan Stanley is the lead left active bookrunner, with Goldman Sachs as the lead right active bookrunner.  

BMO Capital Markets Corp. and RBC Capital Markets are active bookrunners for the offering.  

Legal counsel for the validity of Accelerant’s Class A common shares and related matters is being provided by Maples and Calder (Cayman) and Sidley Austin, while Conyers Dill & Pearman and Ropes & Gray are advising the underwriters. 

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