Market Scout
Dowling Hales acted as exclusive financial advisor to MarketScout Corporation in its sale to World Insurance Associates-owned Novatae Risk Group MarketScout is an innovative national program manager, MGA, wholesaler, and insurance marketplace headquartered in Dallas, Texas. The Company is a Lloyd’s coverholder and has deep expertise across a number of product lines including private client solutions, energy, healthcare, fine art and workers’ compensation. Additionally, MarketScout has a strong track record of innovation via its highly successful insurtech incubation program and it founded the Council for Insuring Private Clients (CIPC), the Entrepreneurial Insurance Alliance (EIA) and publishes a quarterly Market Barometer composite rate index for commercial and personal insurance. As part of the Transaction, MarketScout’s founder and CEO, Richard Kerr, has been named CEO of Novatae. Earlier this month, Charlesbank-backed World Insurance Associates, Novatae’s parent company, announced the consolidation of its fast-growing wholesale and MGA business under the Novatae banner. Novatae has 31 offices across the United States and approximately $800,000,000 in premium. Significant expansion is planned in the next several years.
Target Company
Market Scout
Acquirer Company
Novatae Risk Group
Acquisition Date
November 2022
Sector
Insurance
Acquisition Date
November 2022
Industry
MGA
Region
USA
State of Acquired
TX
Map
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