Global insurance and reinsurance broking group WTW has completed the acquisition of San Francisco-based Newfront, a top 40 US broker combining deep specialty expertise and cutting-edge technology, for upfront and contingent consideration payments amounting to $1.3 billion, as reported previously.
This acquisition expands WTW’s US middle market capabilities and enhances its position in “high-growth” sectors including technology, fintech and life sciences.
Newfront has built a differentiated broking platform supported by a growing producer base, proprietary client-facing technologies, and advanced automation and agentic AI.
The Newfront team has joined WTW, including Spike Lipkin, Co-Founder and Chief Executive Officer (CEO), who will focus on integration, client development, talent acquisition, and technology.
Additionally, Newfront’s major business segments, Business Insurance and Total Rewards, have combined with WTW’s Risk & Broking (R&B) and Health, Wealth & Career (HWC) segments, respectively.
Carl Hess, CEO, WTW, commented, “We are excited to welcome Newfront to the WTW team. Combining Newfront’s cutting-edge, technology-enabled broking model and expertise in high-growth industries with WTW’s global footprint, specialty strategy and established analytics and broking platforms will enhance our delivery of innovative and efficient solutions to our clients. This milestone represents an important step in executing our strategy as we enhance our competitive differentiation and create long-term value for all our stakeholders.”
J.P. Morgan Securities LLC acted as exclusive financial advisor to WTW, and Weil, Gotshal & Manges LLP as legal advisor.
Meanwhile, Perella Weinberg served as exclusive financial advisor and Reed Smith LLP as legal advisor to Newfront.
