Bridge Specialty Group to Acquire Nationwide Brokerage Solutions
Deal News | Feb 04, 2025 | Re-Insurance News
Bridge Specialty Group (BSG) has announced an agreement to acquire Nationwide Brokerage Solutions (NBS) from Nationwide, with the transaction set to conclude in March 2025. The decision, disclosed by Stephen M. Boyd of BSG and Mark Berven of Nationwide, encompasses only NBS. BSG aims to integrate NBS's experienced team into its operations, focusing on further specialization and capability enhancement. Under the new arrangement, NBS will continue operating as a national platform with its existing leadership, led by President Ted Stuckey, who will report to Anurag Batta, COO of BSG. Both organizations see the deal as a strategic opportunity to leverage BSG's global resources to facilitate NBS's growth.
Sectors
- Insurance
- Financial Services
Geography
- United States – Bridge Specialty Group and Nationwide, major players in the U.S., are involved in this transaction reflecting the geographical context.
Industry
- Insurance – The article discusses the acquisition of an insurance brokerage, showcasing industry activities within the insurance sector.
- Financial Services – The acquisition of an insurance brokerage firm involves financial transactions representative of the broader financial services industry.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bridge Specialty Group | Bidding Company | Company | An organization acquiring Nationwide Brokerage Solutions to enhance its market capabilities. |
| Nationwide Brokerage Solutions | Target Company | Company | An insurance brokerage firm being acquired by Bridge Specialty Group. |
| Nationwide | Selling Company | Company | The parent company selling Nationwide Brokerage Solutions as part of a strategic transaction. |
| Stephen M. Boyd | President | Person | President of Bridge Specialty Group, announcing the acquisition. |
| Mark Berven | President and COO | Person | President and COO of Nationwide Property & Casualty, jointly announcing the deal. |
| Ted Stuckey | President of NBS | Person | President of Nationwide Brokerage Solutions, who will continue in his role post-acquisition. |
| Anurag Batta | COO of BSG | Person | Chief Operating Officer of Bridge Specialty Group, overseeing NBS post-acquisition. |