NSM Insurance Group Announces Definitive Agreement for New Mountain Capital to Acquire Its U.S. Commercial Insurance Division

Whats Happening:

NSM Insurance Group has signed a definitive agreement to sell its U.S. commercial insurance division to New Mountain Capital. The transaction, expected to close within 45 days, will create a new independent business entity comprising NSM's portfolio of 15 niche insurance programs across Property & Casualty, Accident & Health, and Reinsurance, as well as its retail agency, NSM Insurance Brokers.

Key Moves:

• NSM Insurance Group to sell U.S. commercial insurance division to New Mountain Capital

• Transaction expected to close within 45 days, subject to regulatory approvals

• New independent entity to be formed, comprising 15 niche insurance programs and NSM Insurance Brokers

By The Numbers:

• New Mountain Capital has over $55 billion in assets under management

• NSM has grown to over $2 billion in premium across 30+ niche insurance programs

• More than 20,000 agents nationwide rely on NSM's specialized insurance programs

Key Quotes:

• "Today, we are excited for this milestone and for New Mountain to help lead the next stage of growth." - Geof McKernan, CEO of NSM Insurance Group

• "The NSM team has done a tremendous job building an unparalleled specialty insurance distribution platform." - Robert Mulcare, Managing Director at New Mountain Capital

• "As a new independent business, we're excited by the potential to further accelerate growth through focused investment in the business, the team and technology." - Sean Donovan, Director at New Mountain Capital

Bottom Line:

The sale of NSM Insurance Group's U.S. commercial insurance division to New Mountain Capital marks a significant shift in the specialty insurance landscape. This transaction allows NSM to focus on its remaining direct-to-consumer insurance brands while providing New Mountain with a platform to become a leading independent commercial insurance MGA business in the U.S.

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