M&A Deal Summary

AssuredPartners Acquires People s United Insurance Agency

On September 22, 2020, AssuredPartners acquired insurance company People s United Insurance Agency from People s United Bank for 120M USD

Acquisition Highlights
  • This is AssuredPartners’ 192nd transaction in the Insurance sector.
  • This is AssuredPartners’ largest (disclosed) transaction.
  • This is AssuredPartners’ 195th transaction in the United States.
  • This is AssuredPartners’ 9th transaction in Connecticut.

M&A Deal Summary
Date 2020-09-22
Target People s United Insurance Agency
Sector Insurance
Buyer(s) AssuredPartners
Sellers(s) People s United Bank
Deal Type Divestiture
Deal Value 120M USD

Target

People s United Insurance Agency

Hartford, Connecticut, United States
People's United Insurance Agency, Inc. is a provider of insurance products and services. PUIA was established in 1893 and is based in Hartford, Connecticut.

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Buyer(S) 1

Buyer

AssuredPartners

Orlando, Florida, United States
Category Company
Founded 2011
Sector Insurance
DESCRIPTION

AssuredPartners is a full-service insurance broker, offering property and casualty and employee benefits insurance products and services to middle-market businesses, public institutions, and high-net-worth individuals. AssuredPartners was founded in 2011 and is based in Orlando, Florida.

DEAL STATS #
Overall 200 of 257
Sector (Insurance) 192 of 243
Type (Divestiture) 9 of 10
State (Connecticut) 9 of 9
Country (United States) 195 of 249
Year (2020) 25 of 29
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-21 Red Insure

Chester, United Kingdom

Red Insure Ltd. provides insurance solutions for a wide spectrum of commercial clients with a specialty in the medical malpractice space. Red Insure is based in Chester, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-23 John J. Matsock & Associates

Naperville, Illinois, United States

John J. Matsock & Associates, Inc. is a full-service, independent insurance agency with the tools, commitment, and professional expertise to provide an individualized and comprehensive plan for a sound financial future. John J. Matsock & Associates was established in 1950 and is based in Naperville, Illinois.

Buy -

Seller(S) 1

SELLER

People s United Bank

Bridgeport, Connecticut, United States
Category Company
Sector Financial Services
DESCRIPTION

People's United Bank, provides financial services.

DEAL STATS #
Overall 2 of 2
Sector (Insurance) 1 of 1
Type (Divestiture) 2 of 2
State (Connecticut) 1 of 1
Country (United States) 2 of 2
Year (2020) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-19 Vend Lease

Baltimore, Maryland, United States

Vend Lease Co. is a provider of equipment financing to suppliers and vendors primarily in the hospitality industry. Vend Lease was founded in 1979 and is based in Baltimore, Maryland.

Buy -
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