Bridge Specialty Group to acquire Nationwide Brokerage Solutions

Insurance wholesaler Bridge Specialty Group, which is part of Brown & Brown, has entered into an agreement with Nationwide to acquire its wholesaler and market access provider NBS Insurance Agency (Nationwide Brokerage Solutions).

NBS will continue to operate as a national platform and will be led by Ted Stuckey, president of NBS. Ted will report to Anurag Batta, chief operating officer of Bridge Specialty Group, and collaborate closely with other leaders on the BSG team.

Bridge Specialty Group is a global insurance wholesaler with access to over 200 admitted, excess and surplus lines and Lloyd’s markets that support its nearly $6 billion premium book. The company has more than 50 locations and 2,000 teammates throughout the US, UK, Europe and Asia.

The transaction is expected to close in March 2025, subject to certain closing conditions.

“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 specialization and complement our existing capabilities.” – Stephen M. Boyd, president of Bridge Specialty Group.

“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 organizations 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.” – Mark Berven, president and chief operating officer of Nationwide Property & Casualty.