Bridge Specialty Group to buy NBS Insurance Agency

Bridge Specialty Group (BSG) has struck a deal with Nationwide Property & Casualty to acquire NBS Insurance Agency.

Financial details of the transaction remain undisclosed.

The deal exclusively involves NBS Insurance Agency, with no other Nationwide affiliated companies included.

This acquisition is due to be finalised in March 2025, contingent on the fulfilment of certain conditions.

Upon completion of the acquisition, NBS will maintain its national presence.

BSG president Stephen Boyd said: “NBS has served as a wholesaler and market access provider for retail agents for more than 50 years, providing superior service to their customers and retail broker partners.

“We look forward to welcoming the talented, customer-focused NBS team to Bridge Specialty Group. We are excited about the opportunity to invest in their continued development while immersing them in our dynamic, people-first culture.

“The addition of the NBS business to our operation will bring added specialisation and complement our existing capabilities.”

NBS president Ted Stuckey will continue to head the agency. He will report to BSG chief operating officer Anurag Batta.

Stuckey will also work closely with the BSG leadership team.

Nationwide Property & Casualty president and COO Mark Berven said: “Nationwide and Bridge Specialty Group have had a strong working relationship for many years.

“Through our discussions, we determined there was a shared opportunity to enhance both of our organisations through a strategic transaction. With its tools, resources and strong global market presence, BSG is well positioned to drive the growth of NBS going forward.”