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The deal comes around three years after Markel sold a controlling interest in Velocity for $181.3mn. -
Risk Strategies looks like the deal that makes most sense, but other targets could include Galway or Hilb.
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LAU will become the new Core Specialty Aviation & Aerospace Division.
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Terms of the deal, which is expected to close in Q1, were not disclosed.
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Sources said the platform has retained Barclays and Goldman Sachs to run a process.
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The transaction comes after Kestrel explored a deal last quarter to raise ~$150mn of capital.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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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 MGA will become part of binding authority unit Amwins Access.
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Insurance Insider US dissects the largest and hottest deals of the year across segments.
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The new, publicly listed specialty program group will be led by Luke Ledbetter.
