Reinsurance News

NSM

Novacore launches as independent insurer to transform specialty market

23rd April 2025

As part of the continued evolution of NSM Insurance Group, Novacore has been launched as an independent specialty insurance provider, leveraging advanced technology, automation, and analytics to drive performance, fuel growth, and transform niche insurance programs. Building on NSM’s 35-year track record, Novacore is committed to transforming insurance for agents, carrier ... Read the full article

NSM completes sale of US commercial insurance division to New Mountain

15th April 2025

NSM Insurance Group, a global specialty insurance provider, has completed the previously announced sale of its US commercial insurance division to New Mountain Capital, a growth-oriented investment firm. The definitive agreement for the sale was first announced in February 2025. The transaction includes NSM’s diverse portfolio of 15 niche insurance programs ... Read the full article

NSM to sell US commercial insurance division to New Mountain Capital

24th February 2025

NSM Insurance Group, a global specialty insurance provider, has signed a definitive agreement to sell its US commercial insurance division to New Mountain Capital, a growth-oriented investment firm. The agreement includes NSM's diverse portfolio of 15 niche insurance programs across property & casualty, accident & health, and reinsurance, along with its ... Read the full article

Global trends & promising outlook for MGA & MGU revenues in 2023: Insuramore

14th June 2024

Managing General Agents (MGAs), Managing General Underwriters (MGUs), and cover-holder groups have amassed approximately USD 23.9 billion in revenues worldwide in 2023, according to a recent report by industry analysis firm Insuramore. The bulk of this revenue, ranging between 70% and 75%, stemmed from direct commercial P&C insurance, while the remaining ... Read the full article

NSM Insurance acquires Strategic Underwriters International

11th June 2024

NSM Insurance Group, a global specialty insurance provider, has completed the acquisition of Pennsylvania-domiciled, Strategic Underwriters International (SUI), a managing general agent (MGA) in the casualty facultative reinsurance marketplace. SUI offers facultative casualty reinsurance for several lines of business, including General Liability, Automobile Liability, Excess/Umbrella Liability and Workers' Compensation. NSM stated that ... Read the full article

NSM Insurance Group acquires Shield Commercial Insurance Services

11th July 2023

Specialty insurance provider NSM Insurance Group has completed its acquisition of California-based Shield Commercial Insurance Services. Shield is exclusively focused on underwriting business for small and mid-sized contractors, offering coverages for General Liability, Excess Liability, Workers' Compensation, Inland Marine and Contractors Professional & Pollution Liability. Bill McKernan, President of NSM Insurance Group, ... Read the full article

NSM acquires Sequoia Re, IOA Re and Rockport MGUs from J.C. Flowers

21st March 2023

NSM Insurance Group has completed its acquisition of Sequoia Reinsurance Services, IOA Re and its divisions Rockport Benefits and Insurance Resources and Auditing Services, subsidiaries of ELMC Risk Solutions, a portfolio company of J.C. Flowers & Co. Bill McKernan, President of NSM Insurance Group, commented, "We're entrepreneurs at heart and we ... Read the full article

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