Noble Consulting Services Inc., an insurance regulatory consulting firm and part of Katz Sapper Miller, a Top 100 Firm based in Indianapolis, has acquired the insurance regulatory practice of Johnson Lambert LLP, a Regional Leader firm based in Raleigh, North Carolina.
Along with the practice's book of business, the acquisition includes eight professionals who do financial risk examinations and related services on behalf of state insurance regulators. The employees hold various credentials, including Certified Financial Examiner and Certified Insurance Examiner.
"We're thrilled to extend a warm welcome to eight exceptional team members from Johnson Lambert to our growing Noble family," said Noble Consulting CEO Mike Dinius. "Their strong reputation in serving insurance regulators make our combination a natural fit."
Financial terms of the deal were not disclosed. KSM ranked No. 50 on Accounting Today's list of the Top 100 Firms of 2023, with $122.89 million in annual revenue. Johnson Lambert ranked No. 15 on the Regional Leaders list for the Top Firms in the Southeast, with $37.79 million in annual revenue.
As part of the deal, Rick Nelson, a principal with Johnson Lambert and leader of its insurance regulatory practice, will join Noble Consulting's executive team as a vice president. He and his seven-member team are joining Noble Consulting effective Tuesday. As fully remote employees, they will keep their current roles and responsibilities.
"Noble is highly regarded within the insurance regulatory community as a trusted advisor of the highest integrity," said Nelson. "We're excited to join forces with the Noble team and look forward to leveraging our complementary capabilities and resources in serving our clients with excellence."
Noble Consulting currently employs approximately 60 professionals who offer different services to insurance regulators, such as financial risk examinations; market conduct examinations; reinsurance contract reviews; regulatory supervision, rehabilitation and liquidation services; investment reviews; cybersecurity reviews; and review of corporate governance, enterprise risk management, and own risk and solvency assessments.
Noble Consulting's addition of Johnson Lambert's insurance regulatory practice comes after its
