FM to acquire VSIC from Oaktree.

FM, a property mutual insurance company, agreed to acquire VSIC, an AM Best rated E&S insurance carrier, from Oaktree, a private equity firm. Financial terms were not disclosed. "It has been a pleasure collaborating with Phil, Jake, and the rest of the Velocity team, and we are confident in their continued success. Under our ownership, Velocity has achieved remarkable growth, and this transaction with Ryan Specialty and FM firmly positions it as the leading E&S property insurance franchise. We appreciate the partnership from the teams at Ryan Specialty and FM and their dedication and expertise in navigating this complex transaction," Greg Share, Oaktree Managing Director.