M&A Deal Summary

NSM Acquires Sequoia Reinsurance Services

On March 20, 2023, NSM acquired insurance company Sequoia Reinsurance Services from ELMC Group

Acquisition Highlights
  • This is NSM’s 16th transaction in the Insurance sector.
  • This is NSM’s 12th transaction in the United States.
  • This is NSM’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2023-03-20
Target Sequoia Reinsurance Services
Sector Insurance
Buyer(s) NSM
Sellers(s) ELMC Group
Deal Type Divestiture

Target

Sequoia Reinsurance Services

Plymouth, Minnesota, United States
Sequoia Reinsurance Services specializes in a niche health reinsurance market to support clients and brokers with best-in-class service, underwriting, actuarial, cost containment, claims, and reinsurance-based risk management services.

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Buyer(S) 1

Buyer

NSM

Conshohocken, Pennsylvania, United States
Category Company
Founded 1990
Sector Insurance
DESCRIPTION

NSM is a full-service MGA and program administrator for specialty property & casualty insurance. The company places insurance in niche sectors such as special transportation, social services, real estate, and pet. On behalf of its insurance carrier partners, NSM typically manages all aspects of the placement process, including product development, marketing, underwriting, policy issuance, and claims. NSM was established in 1990 and is headquartered in Conshohocken, Pennsylvania.

DEAL STATS #
Overall 16 of 22
Sector (Insurance) 16 of 22
Type (Divestiture) 2 of 2
State (Minnesota) 1 of 1
Country (United States) 12 of 16
Year (2023) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-23 Kingsbridge Risk Solutions

Liverpool, United Kingdom

Kingsbridge Risk Solutions Ltd. is a provider of insurance services that are tailored to meet the needs of contractors, freelancers and independent professionals, as well as the compliance requirements of partners including recruiters and accountants. Working in conjunction with its strong partner network, Kingsbridge covers the broadest range of industry sectors in its market, including aerospace, banking and finance, rail, automotive, nuclear, oil and gas and information technology.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-29 Acquis

Newport, United Kingdom

Acquis is an independent insurance broker and administrator that provides specialist solutions to the finance and leasing industry. Acquis was founded in 2009 and is based in Newport, United Kingdom.

Buy -

Seller(S) 1

SELLER

ELMC Group

New York, New York, United States
Category Company
Founded 2013
Sector Insurance
DESCRIPTION

ELMC Group is a manager of premier, full-service managing general underwriters (“MGUs”) specializing in underwriting medical stop-loss insurance. ELMC Group was founded in 2013 and is based in New York.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-22 IOA Re

East Norriton, Pennsylvania, United States

IOA Re, Inc. is a provider of professional auditing and insurance services for external MGUs, insurers, reinsurers, managed care organizations, TPAs and self-insured employers.

Buy -
Mergr

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