Reinsurance brokerage Beach & Associates has announced the completion of its acquisition by U.S. retail consulting and insurance broking group, Acrisure, LLC, after the receipt of all necessary regulatory approvals.
The deal was initially announced in January 2018, and Acrisure has now acquired 100% of Beach’s equity from existing shareholders, as well as from current and previous Beach management.
Further terms of the deal have not been disclosed, but it has been revealed that all of the existing Beach management team will remain, and have also elected to become shareholders in Acrisure.
It was announced previously that Beach would retain its name, as well as its identity and approach under the new ownership, operating as an independent reinsurance advisory and transactional broking unit within the Acrisure group.
