US-based Align Financial Holdings has acquired NationsBuilders Insurance Services (NBIS), a specialist insurance provider, for an undisclosed sum.
The acquired firm specialises in offering risk management, underwriting and claims handling solutions to the crane & rigging, specialised transportation, concrete pump and equipment rental, and dealer industries.
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Align Financial Holdings expects the acquisition to diversify its underwriting business portfolio and expand its network of brokers, agents, and customers.
Align Financial Holdings founder and CEO Kieran Sweeney said: “I am really delighted to welcome all the employees of NBIS to the Align family. Bill Tepe and his management team have over twenty years’ experience developing the products and risk solutions needed to best support the specialist producers and industry associations that serve these industries.
“We look forward to working with the entire NBIS team and their excellent carrier partners to grow and be successful well into the future.”
NBIS president Bill Tepe said: “Align is the right company to lead NBIS into its next chapter. Their focus on quality underwriting and service, strong carrier and producer relationships, and people-first approach complements the NBIS culture very well.”
Align Financial Holdings recently signed an agreement to be acquired by Dual Group, which is the underwriting arm of London-based brokerage Howden Group.
The deal, which is subject to regulatory approval, was valued at $800m.
At the time, Dual said that the acquisition would form an international MGA group with over $2bn gross written premium.
