SelectQuote, Inc., a publicly traded insurance distribution company, has seen a dramatic collapse in its share price following a grim financial forecast. The stock plunged 43.73% to $2.02 as of September 13, 2024, representing a significant fall from its 50-day high of $4.31. This dramatic downturn is largely attributed to a disappointing earnings report and […]
Guidewire Software, an American insurtech company, has selected Infosys as a consulting alliance member of its Guidewire PartnerConnect program at the select level for the Americas region. Members in Guidewire PartnerConnect Consulting offer consulting services that include business transformation and strategy, implementation and associated solution and delivery services. Lisa Walsh — Group Vice President, Global […]
Majesco, which provides cloud insurance software solutions, has been offered a sweetened price of $729 million for its takeover by private equity firm Thoma Bravo. It can be recalled that the US insurtech company agreed to be acquired by the same private equity firm for $594 million or $13.1 per share in a deal signed […]
Third Point Re, Sirius merger : Bermuda-based specialty property and casualty reinsurer Third Point Reinsurance (Third Point Re) has signed a cash cum stock deal worth around $788 million to acquire Sirius International Insurance Group (Sirius Group), a global multi-line insurer and reinsurer. Sirius Group, which is also based in Bermuda, will enable Third Point […]
MyInsuranceClub, an Indian insurance web aggregator, has been acquired by the Indian Express Group, the owner of various newspapers in India, for an undisclosed sum. The deal was inked earlier this year and was closed following the approval granted by the Insurance Regulatory and Development Authority of India (IRDAI). Claims to be the first insurance […]
Thoma Bravo acquisition of Majesco : Private equity firm Thoma Bravo has signed a $594 million deal to acquire US insurtech company Majesco, which claims to help insurers achieve digital business transformation through its cloud-based insurance software solutions. The acquisition by Thoma Bravo will help the New Jersey-based insurance technology provider become a privately held […]
Amynta Group, a New York-based warranty company, has acquired Indiana-based Pivotal Solutions for an undisclosed price as per the latest insurance acquisition news. Headquartered in Fishers, Pivotal Solutions caters to automotive dealer groups with finance and insurance solutions (F&I solutions), training and development with an aim to bring in customer engagement and generate better F&I […]
The Hilb Group (THG), a US middle market insurance agency, has acquired Massachusetts-based Eldredge & Lumpkin Insurance Agency (E&L) for an undisclosed price, as per the latest insurance acquisition news. The deal became effective on 1 July 2020, said The Hilb Group. Headquartered in Chatham, Eldredge & Lumpkin Insurance Agency is a full service insurance […]
Direct Line Group, a UK motor and home insurer, has agreed to acquire Brolly, a London-based digital insurance start-up that offers flexible, customized insurance products, for an undisclosed price. The deal, which is conditional, is likely to be completed during Q3 2020. Brolly is said to build digital insurance by combining technology and partnerships with […]
US insurance brokerage firm AssuredPartners has acquired ENV Insurance Agency based in Liverpool, New York, for an undisclosed price. ENV Insurance Agency, which was founded in 1988, offers insurance and employee benefit advisement to businesses. The insurance agency currently reports annualized revenues of $7.5 million. Brian Bair – AssuredPartners Regional President said: “At AssuredPartners, we focus […]