The insurance and financial services sector continues to see strong merger and acquisition activity, with several firms announcing strategic deals in the last 24hrs.
Acrisure, the global fintech and insurance broker, has completed its $1.1 billion acquisition of Heartland Payroll Solutions from Global Payments. The deal brings more than 50,000 clients under Acrisure’s umbrella and significantly expands its payroll and Human Capital Management (HCM) capabilities.
Greg Williams (pictured above), co-founder, chairman and CEO of Acrisure, said the transaction reflects the company’s focus on addressing client needs by consolidating key business services. Vince Lombardo, who served as president of Heartland Payroll, has joined Acrisure to lead the newly branded AurisSM Payroll and HCM Division, which will deliver expanded technology-driven payroll and HR services to small and mid-sized businesses.
Balavant Insurance Group has acquired TIMBY Specialty Insurance Solutions, a program manager focused on inland marine coverage across transportation, logistics, energy and construction sectors.
Founded in 2021, TIMBY has built a strong niche, offering products such as contractors’ equipment and motor truck cargo, supported by A-rated capacity.
Rekha Skantharaja, CEO of Balavant, said the acquisition strengthens Balavant’s position in inland and ocean marine risks, while TIMBY founder Tyler Van Spanje noted that the partnership will help accelerate growth without disrupting existing broker relationships.
World Insurance Associates LLC has acquired ACB Insurance, an Indianapolis-based agency serving individuals, families, and businesses. Corey Kunkleman, who has led ACB since 2003, will continue to head the business under World’s ownership.
Rich Eknoian, CEO and co-founder of World, said ACB’s team will be a strong addition to the firm’s growing national platform. Legal and advisory support for the deal was provided by Giordano, Halleran & Ciesla, MidCap Advisors, and Church Church Hittle + Antrim.
The Institutes, the not-for-profit education and research group, has acquired InsuranceAUM.com, a digital platform focused on insurance investment insights, networking and education. The move strengthens The Institutes’ reach into the investment side of the insurance industry.
Peter L. Miller, president and CEO of The Institutes, said the combination of expertise will expand resources for insurance organizations navigating increasingly complex investment environments. InsuranceAUM.com, founded in 2013, will continue to operate under its brand while leveraging The Institutes’ resources to grow its platform.
