NSM Insurance Group Divests U.S. Commercial Division to Enhance Focus on Specialty Lines

NSM Insurance Group has completed a significant reorganization by subdividing its U.S. commercial insurance division and finalizing its sale to New Mountain Capital, an established investment management firm. This strategic move includes 15 insurance programs covering areas such as accident and health, property/casualty, and reinsurance, as well as NSM Insurance Brokers. This transaction sees the original NSM operations split into two distinct entities, with fresh brand identities slated to be unveiled for both the commercial and direct-to-consumer segments.

As part of the transition, key leadership changes have been announced. Aaron Miller steps in as the CEO of the newly structured commercial division. Geof McKernan, NSM's founder, and Bill McKernan, its president, will continue their involvement by joining the board of the overhauled organization. The restructuring is aimed at allowing NSM to concentrate on growing its specialty lines portfolio, reflecting a strategic shift towards more niche market segments.

Further indicating NSM's active involvement in the industry's mergers and acquisitions domain, the company has recently secured several significant buys. These include the acquisition of ISO Student Health Insurance, targeting international students in the U.S., and the purchase of strategic international and professional liability insurance providers. These moves not only extend NSM's footprint in the travel and professional liability insurance sectors but also bolster its reinsurance and specialty coverage offerings, enhancing its market adaptability and service spectrum.