Intact Insurance Group USA LLC to Acquire Specialty Managing General Agent Highland Insurance Solutions
Intact Insurance Group USA LLC, doing business under the brand name Intact Insurance Specialty Solutions, announced today that it has entered into a definitive agreement to acquire Highland Insurance Solutions, the U.S. construction division of Tokio Marine Highland, from Tokio Marine Kiln (TMK). Highland is a managing general agent specializing in the builders risk segment of the construction market, and will expand Intact’s portfolio of owned distribution assets. The transaction is expected to close in the second half of 2022, subject to regulatory approval and the satisfaction of other closing conditions.
“The acquisition of Highland is well aligned with our global specialty lines strategy and supports our growth, distribution and outperformance objectives,” said T. Michael Miller, Chief Executive Officer, Global Specialty Lines, Intact. “Highland has established itself in providing specialized insurance and adds a complementary offering to the more than 20 specialty lines available to our brokers and customers. We look forward to welcoming the exemplary Highland team, led by Rick Girden and Kaileigh Bowe, to Intact.”
Brad Irick, CEO of Tokio Marine Kiln, added: “TMK is pleased that the Highland team is joining a company the calibre of Intact where they will be able to continue to build their business and maximize its potential. I would like to thank Rick and Kaileigh personally for their long-standing commitment to the business and support to TMH and TMK.”
Highland will operate as a standalone managing general agent, available to serve the risk management needs of its clients and broker partners through its current select markets, and now additionally though Intact.