All sectors
Insurance
Who acquires Insurance companies
130 distinct acquirers across 179 recorded transactions, 2014 to 2026. Every buyer below has completed at least one acquisition in this sector.
179
Transactions
2014 to 2026
130
Named acquirers
distinct buyers
10.0x
Median EV/EBITDA
from 5 disclosed
$165m
Median deal size
enterprise value
Most active acquirers
Ranked by number of acquisitions recorded in this sector. A buyer that has done this more than once has a thesis, and a thesis is what makes an approach worth making.
- AXA7 deals
- R&Q5 deals
- AmTrust Financial5 deals
- National General Holdings Corp.4 deals
- Aviva3 deals
- Helios Underwriting3 deals
- Assured Guaranty3 deals
- Devondale Holdings2 deals
Recorded transactions
| Target | Acquirer | Date | Value | EV/EBITDA | EV/Revenue |
|---|---|---|---|---|---|
| Altruis Benefit Consultants employee benefits insurance agency business | Altruis Benefit Management | 2026-09-23 | $8m | 0.0x | 0.0x |
| Southwestern Montana Insurance Center | Scali | 2026-09-11 | $3m | 8.8x | 0.0x |
| Vantage Group Holdings | Howard Hughes Holdings Inc. | 2026-06-04 | $2.1bn | 0.0x | 0.0x |
| The Fortegra Group | DB Insurance Co. | 2026-05-29 | $0k | 0.0x | 0.0x |
| FG Reinsurance Division | Devondale Holdings | 2026-03-23 | $0k | 0.0x | 0.0x |
| Inigo Limited | Radian Group Inc. | 2026-02-02 | $1.7bn | 0.0x | 0.0x |
| The Gray Casualty & Surety Company | Palomar Holdings | 2026-01-31 | $311m | 0.0x | 0.0x |
| Cobbs Allen Capital Holdings | Baldwin Insurance Group | 2026-01-02 | $0k | 0.0x | 0.0x |
| Apollo Group Holdings Limited | Skyward Specialty Insurance Group | 2026-01-01 | $555m | 0.0x | 0.0x |
| Employee Benefits Solutions | Employee Benefit Solutions Inc | 2025-12-24 | $1m | 0.0x | 0.0x |
| WM Pierce Holdings | CVC Capital Partners | 2025-12-05 | $848m | 0.0x | 0.0x |
| ArmadaCorp Capital | Ambac Financial Group | 2025-10-31 | $250m | 0.0x | 0.0x |
| Tompkins Insurance Agencies | Arthur J. Gallagher & Co. | 2025-10-31 | $223m | 0.0x | 0.0x |
| FG Reinsurance Division | Devondale Holdings | 2025-10-22 | $0k | 0.0x | 0.0x |
| Ambac Assurance Corporation | Oaktree Capital Management | 2025-09-29 | $420m | 0.0x | 0.0x |
| AssuredPartners | Arthur J. Gallagher & Co. | 2025-08-18 | $13.8bn | 0.0x | 0.0x |
| RSC Topco | Brown & Brown | 2025-08-01 | $9.8bn | 0.0x | 0.0x |
| Enstar Group Limited | Sixth Street | 2025-07-02 | $5.1bn | 0.0x | 0.0x |
| Maiden Holdings | Kestrel Group Ltd | 2025-05-27 | $0k | 0.0x | 0.0x |
| Interboro Insurance Company | Forza Insurance Holdings | 2025-04-01 | $26m | 0.0x | 0.0x |
| ICC Holdings | Mutual Capital Holdings | 2025-03-13 | $74m | 0.0x | 0.0x |
| Medicare Group | SG Benefit Providers | 2024-05-02 | $5m | 0.0x | 0.0x |
| FBBINSURANCE | Marsh & McLennan Agency LLC | 2024-04-23 | $316m | 0.0x | 0.0x |
| Optiom | Aviva | 2023-11-27 | $154m | 0.0x | 0.0x |
| Alpha Mind Technology | XChange Tec | 2023-11-22 | $180m | 0.0x | 0.0x |
| Corvus Insurance | Travelers Companies | 2023-11-03 | $435m | 0.0x | 0.0x |
| Cadence Insurance | Gallagher | 2023-10-24 | $749m | 12.1x | 4.4x |
| Vericity | iA Financial | 2023-10-03 | $170m | 0.0x | 0.0x |
| AIG Life | Aviva | 2023-09-25 | $708m | 0.0x | 0.0x |
| Eastern Insurance Group | Gallagher | 2023-09-19 | $510m | 0.0x | 0.0x |
| ivari | Sagicor | 2023-08-25 | $285m | 0.0x | 0.0x |
| Laya Healthcare | AXA | 2023-08-03 | $732m | 0.0x | 0.0x |
| Crop Risk Services | American Financial Group | 2023-05-02 | $240m | 0.0x | 0.0x |
| Crop Risk Services | Undisclosed | 2023-05-01 | $240m | 0.0x | 0.0x |
| Midwest Holding | Antarctica Capital (PE) | 2023-05-01 | $100m | 10.0x | 3.3x |
| Ambridge | The Amynta Group | 2023-01-09 | $400m | 0.0x | 0.0x |
| SEB | Co-Operators General Insurance Co. | 2023-01-03 | $89m | 0.0x | 1.4x |
| Hallmark E&S | Core Specialty Insurance | 2022-10-07 | $40m | 0.0x | 0.0x |
| Tysers | AUB Group | 2022-09-30 | $626m | 0.0x | 0.0x |
| Sun Life UK | Phoenix | 2022-08-04 | $382m | 0.0x | 0.0x |
| Barra & Associates | Reliance Global Group | 2022-04-27 | $8m | 0.0x | 0.0x |
| ageas UK’s Commercial Lines Front Book Business | AXA UK plc | 2022-02-15 | $73m | 0.0x | 0.0x |
| Senhao Insurance | Huize Holding | 2021-12-17 | $5m | 0.0x | 0.0x |
| Falck Roadside Assistance (RSA) Business | Undisclosed | 2021-12-03 | $166m | 0.0x | 0.0x |
| Falck Roadside Assistance (RSA) Business | Gjensidige Forsikring ASA | 2021-12-02 | $166m | 0.0x | 0.0x |
| MetroMile | Lemonade | 2021-11-08 | $500m | 0.0x | 7.8x |
| AXA Singapore | HSBC Holding | 2021-08-16 | $575m | 0.0x | 0.0x |
| Madison National Life Insurance | Horace Mann Educators | 2021-07-14 | $173m | 0.0x | 0.0x |
| Ark Life Assurance | Irish Life Group Ltd. | 2021-07-13 | $259m | 0.0x | 0.0x |
| Protective Insurance | Progressive | 2021-06-01 | $338m | 0.0x | 0.0x |
| SafeAuto Insurance Group | Allstate | 2021-06-01 | $300m | 0.0x | 0.0x |
| BGC Partners | Ardonagh Group | 2021-05-26 | $500m | 0.0x | 2.6x |
| Ability Insurance | Mount Logan Capital | 2021-05-19 | $20m | 0.0x | 0.0x |
| Homeowners of America | Porch.com | 2021-04-06 | $100m | 0.0x | 0.0x |
| Friday Health Plans | Vestar Capital Partners (PE) | 2021-04-01 | $100m | 0.0x | 0.0x |
| Allstate Life Insurance Company of New York | Wilton Re Holdings Ltd. | 2021-03-29 | $220m | 0.0x | 0.0x |
| Premium Group | Eurazeo PME (PE) | 2021-03-18 | $327m | 0.0x | 0.0x |
| Aviva - Life Insurance Businesses | CNP Assurances | 2021-03-04 | $711m | 0.0x | 0.0x |
| NN Group N.V. - Bulgarian Pension & Life Business | KBC Group | 2021-02-11 | $88m | 0.0x | 0.0x |
| Coaction | TowerBrook Capital Partners (PE) | 2021-01-15 | $586m | 0.0x | 0.0x |
| AXA Insurance | Assicurazioni Generali | 2020-12-31 | $165m | 0.0x | 1.0x |
| Marillac Insurance Co. | R&Q | 2020-12-23 | $2m | 0.0x | 0.0x |
| EPG Insurance | Assurant | 2020-12-17 | $43m | 0.0x | 0.0x |
| RiverStone International | CVC Capital Partners (PE) | 2020-12-02 | $750m | 0.0x | 0.0x |
| Aegon NV - Central and Eastern European Business (CEE) | Vienna Insurance Group | 2020-11-29 | $935m | 0.0x | 0.0x |
| American Access Casualty Co. | Kemper | 2020-11-23 | $370m | 0.0x | 0.0x |
| Santiane Group | Latour Capital (PE) | 2020-10-09 | $225m | 0.0x | 0.0x |
| Bronx Health Plan | Molina Healthcare | 2020-09-29 | $380m | 0.0x | 0.0x |
| People's United Insurance Agency | AssuredPartners | 2020-09-22 | $120m | 0.0x | 0.0x |
| GHG Solutions | YFM Equity Partners (PE) | 2020-07-13 | $26m | 0.0x | 0.0x |
| Caja de Seguros Reunidos Compania de Seguros y Reaseguros S.A. | Helvetia | 2020-01-24 | $879m | 0.0x | 0.5x |
| Asia Capital Reinsurance Group (ACR) | Catalina Holdings | 2019-12-05 | $155m | 0.0x | 0.0x |
| Arachas Corporate Brokers | Ardonagh Group | 2019-12-02 | $282m | 0.0x | 0.0x |
| YourCare Health Plan | Molina Healthcare | 2019-10-16 | $40m | 0.0x | 0.0x |
| Sandell Holdings Ltd. | R&Q | 2019-10-07 | $25m | 0.0x | 0.0x |
| Tranquilidade | Assicurazioni Generali | 2019-07-18 | $575m | 0.0x | 0.0x |
| Pavonia Life Insurance Company of Michigan | Aspida Financial | 2019-07-09 | $75m | 0.0x | 0.0x |
| VIVAT Schadeverzekeringen N.V. | NN Group | 2019-06-07 | $469m | 0.0x | 0.0x |
| Fortman Insurance Agency LLC | Reliance Global Group | 2019-05-03 | $4m | 0.0x | 0.0x |
| Avon-Dixon Agency | Shore Bancshares | 2018-12-17 | $27m | 0.0x | 0.0x |
| National Teachers Associates Life Insurance Co. | Horace Mann Educators | 2018-12-10 | $405m | 0.0x | 0.0x |
| Tri-State Consumer Insurance Co. | Standard Diversified | 2018-12-10 | $54m | 0.0x | 0.0x |
| Seguros de Vida y Pensiones Antares S.A. | Grupo Catalana Occidente | 2018-11-08 | $181m | 0.0x | 0.0x |
| GBG | Further Global (PE) | 2018-11-07 | $132m | 0.0x | 0.0x |
| The Ardonagh Group - Commercial MGA Businesses | Arch Capital | 2018-11-01 | $48m | 0.0x | 0.0x |
| MSP Underwriting Ltd. | Cincinnati | 2018-10-12 | $157m | 0.0x | 0.0x |
| ABA Insurance Services | American Financial Group | 2018-10-11 | $28m | 0.0x | 0.0x |
| MPS Risk Solutions Ltd. | R&Q | 2018-09-19 | $25m | 7.0x | 0.9x |
| Generali Belgium S.A. | Athora Holding | 2018-04-18 | $609m | 0.0x | 0.0x |
| NSM | White Mountains | 2018-04-02 | $388m | 0.0x | 0.0x |
| GoMedigap | eHealth | 2018-01-16 | $20m | 0.0x | 0.0x |
| Tempcover | Connection Capital (PE) | 2018-01-02 | $20m | 0.0x | 0.0x |
| Netrisk Group | MCI Group | 2017-11-29 | $64m | 0.0x | 0.0x |
| Friends First | Aviva | 2017-11-14 | $147m | 0.0x | 0.0x |
| AmTrust Financial Services | National General Holdings Corp. | 2017-09-14 | $200m | 0.0x | 0.0x |
| Pacific Compensation Insurance Co. | CopperPoint Mutual Insurance Co. | 2017-09-13 | $150m | 0.0x | 0.0x |
| Canopius | Centerbridge Partners (PE) | 2017-09-01 | $952m | 0.0x | 0.0x |
| Narragansett Bay Insurance Co. | Heritage Insurance Holdings | 2017-08-08 | $250m | 0.0x | 0.0x |
| Unirobe Meeùs Groep B.V. (UMG) | Aon | 2017-08-08 | $332m | 0.0x | 0.0x |
| State National Companies | Markel | 2017-07-26 | $919m | 10.7x | 4.1x |
| Novae Group Plc | Axis Capital | 2017-07-06 | $720m | 0.0x | 0.0x |
| Eunisure Ltd. | AFH Financial Group | 2017-06-02 | $7m | 0.0x | 0.8x |
| McGraw Insurance | Biglari | 2017-05-25 | $300m | 0.0x | 0.0x |
| Pacific Specialty Insurance Co. | Biglari | 2017-05-25 | $300m | 0.0x | 0.0x |
| OneDigital | New Mountain Capital (PE) | 2017-05-08 | $560m | 0.0x | 0.0x |
| Archer Daniels Midland Co. - Crop Risk Services Business | Validus Re | 2017-05-01 | $128m | 0.0x | 0.0x |
| Cover-More | Zurich Insurance | 2017-04-13 | $514m | 0.0x | 0.0x |
| Charmac Underwriting Ltd. | Helios Underwriting | 2017-04-04 | $3m | 0.0x | 0.0x |
| Blink Innovation Ltd. | CPP Group | 2017-03-17 | $1m | 0.0x | 0.0x |
| Simply Business Ltd. | Travelers Companies | 2017-03-13 | $490m | 0.0x | 0.0x |
| Pavonia Holdings (US) | Global Bankers Insurance | 2017-02-17 | $120m | 0.0x | 0.0x |
| SureTec Financial Corp. | Markel | 2017-02-01 | $250m | 0.0x | 0.0x |
| ADM Crop Risk Services | Validus Re | 2017-01-30 | $128m | 0.0x | 0.0x |
| Premia | Kelso (PE) | 2017-01-09 | $510m | 0.0x | 0.0x |
| Green Tree Insurance Agency | Assurant | 2017-01-04 | $125m | 0.0x | 4.0x |
| MyPolicy | Inflexion (PE) | 2017-01-02 | $62m | 0.0x | 0.0x |
| Salviscount LLP | Helios Underwriting | 2016-12-05 | $1m | 0.0x | 0.0x |
| Legal & General Nederland Levensverzekering Maatschappij N.V | Chesnara | 2016-11-24 | $180m | 0.0x | 0.0x |
| Autosure New Zealand Ltd. | Turners Automotive Group | 2016-11-21 | $24m | 0.0x | 0.0x |
| Ariel Re | Argo Group | 2016-11-14 | $235m | 0.0x | 0.0x |
| Zurich Assurances Maroc S.A. | Allianz | 2016-11-04 | $275m | 0.0x | 0.0x |
| AmeriHealth Casualty Insurance Co. | AmTrust Financial | 2016-10-28 | $90m | 0.0x | 0.8x |
| Aurigen Capital | PartnerRe Ltd. | 2016-10-20 | $285m | 0.0x | 0.0x |
| MBIA UK Insurance Ltd. | Assured Guaranty | 2016-09-29 | $347m | 0.0x | 0.0x |
| United States Sports Insurance Co. LLC | R&Q | 2016-09-23 | $2m | 0.0x | 0.0x |
| The Royal London General Insurance Co. Ltd. | R&Q | 2016-09-09 | $18m | 0.0x | 0.0x |
| Universal American Corp. - Traditional Insurance Business | Nassau Financial Group | 2016-08-03 | $31m | 0.0x | 0.0x |
| AA Insurance | The Carlyle Group (PE) | 2016-06-29 | $176m | 0.0x | 0.0x |
| Direct General Corp. | National General Holdings Corp. | 2016-06-24 | $165m | 0.0x | 0.0x |
| AXA Wealth - Pensions & Protection Businesses | Phoenix | 2016-05-27 | $577m | 0.0x | 0.0x |
| United National Specialty Insurance Co. | State National Companies | 2016-05-13 | $7m | 0.0x | 0.0x |
| ANV Holdings B.V. | AmTrust Financial | 2016-04-19 | $219m | 0.0x | 0.0x |
| CIFG Holding | Assured Guaranty | 2016-04-13 | $450m | 0.0x | 0.0x |
| Maxum Specialty Insurance Group | The Hartford Financial Services Group | 2016-03-16 | $170m | 0.0x | 0.0x |
| Assurant - Employee Benefits Business | Sun Life | 2016-03-01 | $940m | 0.0x | 0.0x |
| Linear Title & Closing Ltd. | Solidifi | 2016-03-01 | $96m | 0.0x | 0.0x |
| Swett & Crawford Group | Truist | 2016-02-24 | $500m | 0.0x | 0.0x |
| Century-National Insurance Co. | National General Holdings Corp. | 2016-01-25 | $315m | 0.0x | 0.0x |
| Devon Underwriting Ltd. | Helios Underwriting | 2016-01-22 | $2m | 0.0x | 0.0x |
| IHC Risk Solutions LLC | Swiss Re Corporate Solutions Ltd. | 2016-01-05 | $153m | 0.0x | 0.0x |
| Liberty Ubezpieczenia | AXA | 2015-12-18 | $25m | 0.0x | 0.0x |
| Rural Community Insurance Agency | Zurich American Insurance Co. | 2015-12-18 | $675m | 0.0x | 0.0x |
| Genworth Financial - Lifestyle Protection Insurance Business | AXA | 2015-12-02 | $490m | 0.0x | 0.0x |
| Alpha Insurance S.A. | Enstar Group | 2015-11-13 | $45m | 0.0x | 0.0x |
| Genworth Financial Mortgage Insurance Ltd. | AmTrust Financial | 2015-10-27 | $60m | 0.0x | 0.0x |
| Interboro Insurance Co. | AmCoastal | 2015-09-30 | $57m | 0.0x | 0.0x |
| The Phoenix Companies | Nassau Financial Group | 2015-09-29 | $217m | 0.0x | 0.1x |
| Zephyr Insurance Co. | Heritage Insurance Holdings | 2015-09-29 | $120m | 0.0x | 0.0x |
| Republic Companies | AmTrust Financial | 2015-09-27 | $233m | 0.0x | 0.0x |
| National Dental Plan Ltd. | Unum | 2015-08-10 | $50m | 0.0x | 0.0x |
The 150 most recent of 179 recorded transactions in this sector. n/d means not disclosed. Most transactions close without a published multiple, which is why the disclosed count matters more than the median.
See all 179 Insurance transactions
Who owns Financial Services companies
On PEStore, Insurance sits within Financial Services. PEStore profiles the private equity firms and serial acquirers active there: what they own, how long they have held it, and every deal on record. Underlined acquirers above link to their profiles.
Financial Services investors and acquirers on PEStoreMultiples across every sector
What is your Insurance business worth?
Run the free valuation against the current multiple band for your sector. It takes about a minute and shows the range and the method behind it.
Run a valuation