America's Benefit Specialist December 2023

$170 million and $62 million, respectively. Under the agree ment, Gallagher will acquire the stock of Cadence Insurance for $749 million, which is net of Gallagher’s discounted tax benefit associated with the transaction of approximately $155 million. Integration costs and expected non-cash manage ment retention costs are expected to total $70 million over the next 3 years. Gallagher has also acquired the assets of Southfield, Mich igan-based Meadowbrook Insurance Agency. Terms of the transaction were not disclosed. Meadowbrook Insurance Agency is a retail insurance bro ker offering a comprehensive range of property/casualty and group benefits services to clients throughout Michigan and in Florida. As part of the transaction, Gallagher will acquire affiliated companies The Protection Center, based in Jack son, Michigan, and Kleinschmidt Agency Inc., based in Ann Arbor, Michigan. The Meadowbrook Insurance Agency team will operate under the direction of Sean Gallagher, head of Gallagher’s Great Lakes region retail property/casualty brokerage opera tions, and Tom Lannen, head of Gallagher’s Midwest region employee benefits consulting operations. GLOBE LIFE ACQUIRES EVRY HEALTH Globe Life Inc. has signed an agreement to acquire Evry Health. Founded in 2017, Evry Health is a business-to-busi ness health insurance company that differentiates itself from traditional PPOs and HMOs by lowering the cost of health care through software automation with a mobile-first expe rience. The company’s expansive benefit plans encourage access to care and preventative health by offering no copays or deductibles for in-network care. “We are excited about the addition of Evry Health to the Globe Life family of companies,” said Globe Life Co-Chair men and Chief Executive Officers Matt Darden and Frank Svoboda. “Evry Health has been on a mission to use today’s technology to build a better health insurance platform for midsize employers and their customers.” Evry Health is located in Dallas with innovative group health insurance plans also available in Austin, Houston, and San Antonio that provide a nationwide network for health coverage in addition to tailored wellness plans at no cost to employers or employees.

ACCURISK HOLDINGS TO BE ACQUIRED BY RYAN SPECIALTY AccuRisk Holdings LLC, a Chicago-based medical stop-loss managing general underwriter, has signed a definitive agreement to be acquired by Ryan Specialty, an international specialty insurance firm. Dan Boisvert, president & CEO of AccuRisk, said, “We are excited to be joining the Ryan Specialty team. AccuRisk and Ryan Specialty Benefits have a common mission to trans form the Healthcare Finance and Health Insurance markets by providing integrated health solutions to our broker and TPA clients. The acquisition will allow us focus on that vision and to enter the next stage of our corporate growth.” John Zern, president & CEO of Ryan Specialty Benefits, commented, “AccuRisk adds exceptional talent, unique capabilities, and product depth to our employee benefits practice. AccuRisk’s offerings include medical stop-loss underwriting, group captives, supplemental healthcare man agement and occupational accident. AccuRisk’s deep exper tise, combined with the breadth of its the product offering, gives Ryan Specialty the capabilities to holistically service our retail broker and TPA clients. I look forward to collaborating with Dan as a part of the team to deliver innovative solutions on a nationwide basis.” GALLAGHER MAKES ACQUISITIONS Arthur J. Gallagher & Co. has signed a definitive agreement to acquire Baton Rouge, Louisiana-headquartered Cadence Insurance Inc., a wholly owned subsidiary of Cadence Bank. The transaction is subject to regulatory approval and is ex pected to close this quarter. Cadence Insurance offers a full suite of commercial proper ty/casualty, employee benefits and personal lines products to clients from 34 offices spanning nine different states across the Southeast, including Texas. The Cadence Insurance team led by Markham McKnight and Chris Boone will operate under the direction of Bumpy Triche, head of Gallagher’s Mid-South retail property/casualty brokerage operations, and Robby White, head of Gallagher’s South-Central region em ployee benefits consulting and brokerage operations. As part of the transaction, Gallagher will become the pre ferred insurance broking partner of Cadence Bank. Cadence Insurance pro forma revenues and EBITDAC (in cluding minimal expected expense synergies) for the trailing 12 months ended September 30, 2023, were approximately

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