M&A Deal Summary

Accelerant Acquires Commonwealth Insurance Company of America

On March 8, 2021, Accelerant acquired insurance company Commonwealth Insurance Company of America from Brit Insurance

Acquisition Highlights
  • This is Accelerant’s 1st transaction in the Insurance sector.
  • This is Accelerant’s 1st transaction in the United States.
  • This is Accelerant’s 1st transaction in Delaware.

M&A Deal Summary
Date 2021-03-08
Target Commonwealth Insurance Company of America
Sector Insurance
Buyer(s) Accelerant
Sellers(s) Brit Insurance
Deal Type Divestiture

Target

Commonwealth Insurance Company of America

Wilmington, Delaware, United States
Commonwealth Insurance Company of America (CICA) is a Delaware domiciled admitted insurance carrier with licenses in 48 states and the District of Columbia.

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Buyer(S) 1

Buyer

Accelerant

Colchester, United Kingdom
Category Company
Founded 2018
Sector Insurance
DESCRIPTION

Accelerant is an underwriting group that specializes in serving a carefully selected and managed network of Member MGAs in Europe and the UK. Accelerant has an established strategy and a powerful customer value proposition, executed by a proven management team, utilizing seasoned relationships to create and control an attractive insurance portfolio serving SMEs. Accelerant was founded in 2018 and is based in Colchester, United Kingdom.

DEAL STATS #
Overall 1 of 3
Sector (Insurance) 1 of 3
Type (Divestiture) 1 of 1
State (Delaware) 1 of 1
Country (United States) 1 of 2
Year (2021) 1 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-19 Kinnell

Ayr, United Kingdom

Kinnell is a vertically integrated insurance group that primarily serves the building and remedial treatment industries, focused on the provision of home improvement consumer protection, including both deposit and post-completion warranty protection. Kinnell is based in Ayr, United Kingdom.

Buy -

Seller(S) 1

SELLER

Brit Insurance

London, United Kingdom
Category Company
Sector Insurance
Employees350
Revenue 1.5B EUR (2012)
DESCRIPTION

Brit Insurance's operations are primarily in London, although the group is headquartered in Amsterdam, Netherlands. The company writes a diverse portfolio of over 70 classes of insurance and reinsurance, which include accident and health, aerospace, marine, professional risks, liability, property and packages, war and terrorism, and small business insurance policies. The scope is wide-ranging from sole traders to the larger multinational corporations; from manufacturers to professional services; and from shops to satellites.

DEAL STATS #
Overall 1 of 3
Sector (Insurance) 1 of 3
Type (Divestiture) 1 of 3
State (Delaware) 1 of 1
Country (United States) 1 of 3
Year (2021) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-01 Scion Underwriting Services

Dallas, Texas, United States

Scion Underwriting Services operates as an MGA providing specialty casualty insurance solutions to the excess and surplus lines market. Scion Underwriting Services is based in Dallas, Texas.

Sell -
Mergr

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