Capital raising
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The new, publicly listed specialty program group will be led by Luke Ledbetter. -
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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In March, Insurance Insider US revealed that Arden had retained Dowling Hales to find an investor.
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The start-up has secured BMA approval as it looks to a 1 January kick-off.
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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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In late August, Insurance Insider US revealed that Leavitt was looking for a minority investor.
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It is understood that the TPA is working with Waller Helms on the process.
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Carlyle re-launched efforts to find minority investor last June.
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Sources said that the AmTrust-backed fronting carrier has retained Evercore to run the process.
