In corporate news:

American International Group Inc. (AIG) has acquired a controlling stake in NSM Insurance Group, a managing general agent and insurance program administrator, from ABRY Partners and NSM management. Terms of the deal were not disclosed. According to an Insurance Journal report, AIG has had an existing relationship with NSM for years and the programs it manages for AIG are not expected to change. The press release announcing the acquisition notes, “For more than 25 years, NSM Insurance Group has been an industry leader in the development, implementation, marketing and underwriting of industry-specific insurance programs and has grown to over $500 million in annual premium.” Among NSM’s specialties is workers’ compensation.

Read full coverage from Insurance Journal here. Read the news release from NSM here.

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