Acrisure acquires Appalachian Underwriters

Top-10 global insurance broker Acrisure has acquired Appalachian Underwriters.

With a model that encompasses both an MGA and wholesale distribution, Appalachian places more than $400 million gross written premium into the insurance market. Core business divisions of Appalachian include workers’ compensation, commercial specialty, personal lines and transactional wholesale.

Appalachian’s distribution network will complement Acrisure’s existing distribution model to further leverage and create opportunities. The deal to acquire Appalachian follows Acrisure’s recent acquisition of the MGA and related operations of SUNZ Insurance.

“Appalachian presents a unique partnership opportunity. With very few entities of its kind in existence, we’re excited about this deal and the acceleration it will provide both Acrisure and Appalachian. Further, this new Partnership will expand our technology platforms as we integrate data and systems with our artificial intelligence (AI) strategy. Of particular interest is the ability to access Appalachian’s deep and broad dataset including claims information as a tool to further model, underwrite and package Acrisure’s risk premium for distribution across multiple markets.” – Greg Williams, co-founder, CEO and President of Acrisure.

“The Appalachian family of companies, now joined with Acrisure, creates a dynamic and transformative force in the market. Acrisure’s platform is the most robust and innovative in the financial services industry and we’ve admired how they’ve built such a successful organization with a strong and differentiated culture. I couldn’t be more excited about this opportunity.” – Bob Arowood, president of Appalachian Underwriters.

Terms of the transaction were not disclosed. Acrisure expects to make further related and complementary announcements during 2022.