The insurance industry started 2025 with a wave of mergers and acquisitions, as companies sought to expand their market reach, strengthen capabilities, and enhance digital transformation efforts. From major brokerages acquiring regional firms to insurers bolstering their specialty lines, January saw several high-profile deals that are set to reshape the competitive landscape.
Strategic acquisitions have long been a growth driver in the industry, allowing firms to scale operations, access new customer segments, and integrate cutting-edge technologies. This month’s biggest deals reflect ongoing consolidation trends, with insurers and brokers positioning themselves for a rapidly evolving market.
Insurtech Insights lists the top insurance acquisitions of January 2025, exploring the companies involved and the strategic motivations behind each deal.
Marsh McLennan Agency Acquires Acumen Solutions Group
Marsh McLennan Agency (MMA) has announced the acquisition of Acumen Solutions Group LLC, a full-service insurance agency based in Melville, New York.
Acumen Solutions Group provides customized insurance programs to businesses and individuals across various sectors, with a particular focus on the construction, real estate, and aviation industries.
Following the acquisition, all Acumen employees, including President Tony D’Elia, will join MMA and continue to operate from their Melville, New York office.
The acquisition strengthen MMA’s position in the market and expands its service offerings to clients across the United States.
“We have long admired Acumen’s industry expertise and commitment to clients,” said Jerry Alderman, CEO of MMA’s Northeast region. “As part of Marsh McLennan Agency, Acumen will be able to offer a wider range of creative solutions and capabilities to clients in the region.”
Allstate Sells Group Health Business to Nationwide
The Allstate Corporation has announced a definitive agreement to sell its Group Health business to Nationwide for $1.25 billion in cash, subject to closing adjustments and regulatory approvals.
The acquisition is set to bolster Nationwide Financial’s portfolio, particularly in employer benefits and stop-loss insurance for small businesses. Nationwide emphasized that the deal will provide a strong foundation for its expansion in the employer benefits sector.
For the first nine months of 2024, Allstate’s Group Health division reported revenues of $608 million and an adjusted net income of $69 million, highlighting its profitability ahead of the transaction.
J.P. Morgan and Ardea Partners served as financial advisors to Allstate, with Willkie Farr & Gallagher LLP acting as legal counsel. Citi advised Nationwide, while Squire Patton Boggs LLP provided legal representation.
Sentry Completes Acquisition of The General from American Family
Sentry Insurance today announced the successful completion of its acquisition of The General®, a leading provider of non-standard auto (NSA) insurance, from American Family Insurance. The $1.7 billion transaction, initially announced in September, marks the largest acquisition in Sentry’s 120-year history.
NSA insurance caters to drivers who may have difficulty obtaining standard auto coverage due to various factors. The acquisition of The General strengthens Sentry’s position in this market by combining the expertise and strong brand recognition of its Dairyland® brand with The General.
Moving forward, The General will serve as the primary brand for Sentry’s NSA insurance operations.
World Insurance Associates Acquires Stern Insurance Group
World Insurance Associates, a Top 50 insurance brokerage, has announced the acquisition of Stern Insurance Group (SIG), based in Scottsdale, Arizona.
The transaction, which closed on December 1, 2024, expands World Insurance’s presence in the employee benefits and risk management sector.
Founded in 1987 by Daryl Stern, SIG is known for its tailored insurance solutions and personalized service. The firm specializes in advising corporations on employee benefits and risk management while also offering individuals a range of insurance products, including medical, life, and disability coverage.
The terms of the acquisition were not disclosed.
“Stern was built on a tradition of integrity and industry leadership,” says Daryl Stern, Principal, Stern Insurance Group. “We have invested in the resources necessary to deliver thoughtful strategic planning and technology-based solutions in order to meet the changing needs of our clients.”
Eric Stern, Principal, Stern Insurance Group, adds, “We’re not satisfied with business as usual. We want to ensure our clients’ success, and their complete satisfaction is our sole focus.”
Equisoft Acquires VisCalc to Expand Life Insurance Solutions
Equisoft has announced the acquisition of VisCalc, an Atlanta-based provider of SaaS illustration software for small to mid-sized life insurance carriers.
According to reports, the move strengthens Equisoft’s presence in the U.S. life insurance market by adding a robust and cost-effective illustration solution to its existing suite of products. VisCalc’s user-friendly platform offers agents a streamlined way to create clear and interactive presentations of potential insurance outcomes.
By incorporating VisCalc’s technology into their existing platform, Equisoft can further enhance its ability to serve the needs of small and mid-sized carriers and empower agents with the tools they need to succeed.
“The market has been clear in its demand for affordable, efficient and agent-centric illustration solutions,” said Mark DePhillips, Equisoft’s Senior Vice President, US.
“VisCalc, with its proven platform, has outstanding relationships with many US carriers. We look forward to continuing to serve their existing clients with the same strong and cost-effective service they have come to expect, while also bringing this innovative solution to a wider market.”
Knighthead Insurance Group Acquires Merit Life
Knighthead Insurance Group has acquired Merit Life Insurance Co., marking its expansion into the U.S. market with a rebranded entity, Knighthead Life.
The acquisition positions the company to address growing retirement needs through innovative solutions and a consumer-centric approach.
Knighthead Life will introduce a multi-year guaranteed annuity (MYGA), backed by the group’s $5.5 billion in annuity reserves and bolstered by a recent $550 million capital raise. The company’s offerings are supported by an A- rating from AM Best, reinforcing its commitment to reliability and financial strength.
Tom Wagner, co-Chairman of Knighthead Insurance Group and co-founder of Knighthead Capital Management, expressed enthusiasm about the acquisition. “Merit’s consumer-centric approach, focus on technology, and innovative retirement solutions made it an ideal fit for Knighthead Insurance,” he said.
DARAG Acquires wefox Insurance AG’s Run-Off Portfolio
DARAG Group, a leading legacy acquirer, has entered into an agreement to acquire a run-off portfolio from wefox Insurance AG. The portfolio encompasses motor damage, third-party liability, private liability, and property business across Germany, Italy, and Switzerland.
The acquisition follows the previously announced sale of wefox Insurance AG to a group of Swiss companies led by BERAG. The transaction aligns with wefox Group’s strategic decision to divest its insurance carrier, announced in June 2024.
The transaction will involve a loss portfolio transfer followed by the transfer of all EEA-domiciled business, subject to regulatory approvals.
Tom Booth, CEO of DARAG, said, “This transaction is a great way to start 2025, which is our 15th year operating as a run-off consolidator in Europe.
Moody’s to Acquire CAPE Analytics
Moody’s Corporation (NYSE: MCO) has announced an agreement to acquire CAPE Analytics, a leader in geospatial AI intelligence for residential and commercial properties.
The acquisition will integrate Moody’s industry-leading Intelligent Risk Platform and catastrophe risk modelling with CAPE’s advanced geospatial AI analytics, creating a comprehensive property database offering precise, address-specific risk insights.
Rob Fauber, President and CEO of Moody’s, highlighted the demand for enhanced property risk analytics. “I continually hear from our customers that they are seeking more precise and actionable information as they evaluate an evolving set of risks,” said Fauber. “By combining our CAT risk models with CAPE’s AI-powered property risk intelligence, we will provide our customers with the most advanced property risk analytics available in the industry, enhancing insights and decision-making across the insurance lifecycle.”
The acquisition will enable Moody’s to deliver unparalleled property-specific data, including building characteristics, peril risk assessments, valuation metrics, and average annual loss estimates. CAPE’s geospatial AI analytics, computer vision, and machine learning technology provide detailed risk evaluations for individual addresses in the United States, as well as parts of Canada and Australia.
AmeriLife to Acquire Crump Life Insurance Services
AmeriLife, a leading developer, marketer, and distributor of life and health insurance, annuities, and retirement planning solutions, has announced an agreement to acquire Crump Life Insurance Services and Hanleigh Management from TIH Insurance Holdings.
Crump Life Insurance Services is a prominent third-party distributor and service provider of insurance and retirement products. The company collaborates with over 31,000 financial professionals, offering a comprehensive range of solutions, including life insurance, annuities, long-term care, linked benefit, disability insurance, and specialty offerings.
Scott R. Perry, Chairman and CEO of AmeriLife, highlighted the strategic alignment between the two companies “We are thrilled to welcome Crump into the AmeriLife family. Crump is a leading independent distributor of life insurance, and this partnership aligns perfectly with our vision to provide enhanced wealth solutions for our clients and partners. Crump’s exceptional team and dedication to customer satisfaction will further strengthen our capabilities. Together – through our shared culture and values – we will continue to redefine standards of service and excellence in our industry.”
INVO Underwriting Acquires MIAN
INVO Underwriting has announced its acquisition of Madison Independent Agency Network (MIAN) in a strategic move to enhance support and resources for MIAN agents.
The acquisition eliminates access fees and minimum production requirements for agents while ensuring uninterrupted carrier access.
The integration will provide MIAN agents with expanded opportunities, including access to INVO’s innovative solutions. These include a digital marketplace for quoting personal and commercial insurance lines, a specialised workers’ compensation submit division, a temp staffing insurance division, and a transportation division set to launch in early 2025.
INVO Underwriting is prioritising a smooth transition for MIAN agents by offering hands-on support for carrier appointments and platform access.
“This acquisition is designed to expand resources and streamline operations, empowering agents to better serve their clients,” stated INVO Underwriting.
NFP Acquires Capstone Strategies
NFP, a leading insurance broker and consultant, announced today the acquisition of Capstone Strategies, LLC, a P&C and benefits broker based in Midland, Texas.
This acquisition strengthens NFP’s presence in the energy sector, building upon the launch of its Houston-based Energy Group in March 2022.
Capstone Strategies, founded by Blake Johnston and Brandon Sheppard, brings extensive experience in serving the insurance needs of oil and gas extraction companies in West Texas. Johnston and Sheppard will join NFP as senior vice presidents, reporting to Amanda Ruback, P&C managing director in NFP’s Central region.
Commenting on the news, Ruback said: ,“We’re excited to welcome Blake and Brandon to NFP and add to our presence in West Texas. The Capstone team has a strong foundation of trust within the community, and we look forward to introducing new, integrated solutions that address the needs of their clients in the region.”
