Acquisitions Driving Growth in the U.S. Insurance Sector
A series of acquisitions have recently taken place within the U.S. insurance sector, highlighting strategic growth and market expansion.
Specialty Program Group LLC (SPG) has acquired Proper Insurance, renowned for its short-term rental coverage offerings. Founded in 2014 in Bozeman, Montana, Proper Insurance provides tailor-made commercial insurance solutions for short-term rental properties on platforms like Airbnb and Vrbo. Their comprehensive policies replace typical homeowners or landlord insurance, covering guest liability, business income loss, and property damage, supported by Lloyd’s of London and Concert Specialty. This acquisition gives SPG a national platform in the burgeoning home-sharing market, enhancing their specialty property offerings amidst increasing regulatory scrutiny.
As part of this acquisition, Michael Grimland, a key player in Proper Insurance since 2017, assumes the role of president. Grimland's expertise in commercial underwriting and reinsurance has bolstered Proper's operational and underwriting capabilities.
In another significant move, King Risk Partners has expanded its influence in the Southeast by acquiring Lewis Insurance, an independent agency in Thomasville, Georgia. Known for its customer-centric approach and wide range of coverage options, Lewis Insurance has established a strong community presence over 30 years. Scott Popilek, CEO of King Risk Partners, emphasized that this acquisition reinforces the company's values and extends its reach in Georgia. Jason Lewis, owner of Lewis Insurance, expressed that the merger offers access to broader markets and resources while maintaining their commitment to personalized service.
This acquisition is part of a strategic series by Gainesville, Florida-based King Risk Partners, focusing on independent agencies in Georgia and nearby states, aligning with their regional growth objectives.
Meanwhile, Hilb Group, headquartered in Richmond, Virginia, acquired a Georgia-based surety bond agency, aiming to boost its surety capabilities in the Southeast. Supported by Carlyle, the February 1, 2026 acquisition aligns with Hilb's strategy to expand specialty verticals through targeted acquisitions. This move strengthens their position in the surety market during a period of high demand, driven by U.S. construction sector demands due to infrastructure investments.
Since its inception in 2009, Hilb Group has aggressively pursued growth through mergers and acquisitions, cementing its presence in over 30 states with more than 125 offices. Their focus on expanding surety services continues to align with evolving market needs, spurred by both public and private sector construction projects.