Capital raising
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The brokerage had secured a $340mn facility with JP Morgan, Fifth Third Bank and RBC in August 2023. -
Acrisure may be the first heavyweight broker to go, with Hub, BroadStreet and Howden also contenders.
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The business is targeting an enterprise value in excess of $30bn, sources said.
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Last July, this publication revealed that the agency had retained Piper Sandler to run a process.
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The $2bn+ raise would likely rest on the base case of an IPO in the medium term.
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Sources said that with the equity refinancing, Alliant secured an enterprise value of ~$25bn.
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The firm has commenced writing collateralized retro and reinsurance, but its rated launch is still pending.
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The new, publicly listed specialty program group will be led by Luke Ledbetter.
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Fronting growth fell by half in 2024 due to uncertain loss climate and high cost of capital.
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Insight into the current state of the insurance M&A market, powered by the Insurance Insider US M&A Deal Tracker.
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The Montreal broker will use the funds to expand its Canadian operations.
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Sources said the ~C$55mn Ebitda business retained RBC to run the strategic review.
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