Global insurance broker Acrisure has acquired US-headquartered Appalachian Underwriters, a national Managing General Agency (MGA).
Acrisure specialises in intelligence-driven financial services, providing a broad array of products including insurance, asset management, real estate services, and cyber services. The company has grown revenue from $38m to more than $3bn in just over eight years and has locations in nine countries.
Greg Williams, co-founder, CEO and president of Acrisure, said, “With very few entities of its kind in existence, we’re excited about this deal and the acceleration it will provide both Acrisure and Appalachian.
“Further, this new partnership will expand our technology platforms as we integrate data and systems with our artificial intelligence (AI) strategy. Of particular interest is the ability to access Appalachian’s deep and broad dataset including claims information as a tool to further model, underwrite and package Acrisure’s risk premium for distribution across multiple markets.”
Appalachian’s extensive distribution network will complement Acrisure’s existing distribution model to further leverage and create opportunities, Acrisure said.
Terms of the transaction were not disclosed. Acrisure expects to make further related and complementary announcements during 2022.
Copyright © 2022 FinTech Global
