M&A
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Sentry announced its $1.7bn acquisition of The General last week.
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Ethos’ transactional liability MGU is not included in the deal.
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The investment will be used to expand its product portfolio and continue global expansion.
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The Insurance Insider US news team runs you through this week’s key M&A deals.
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The deal marks Sentry’s largest transaction in its 120-year history.
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Altas joins current investors Carlyle and Stone Point Capital.
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Westaim reported roughly $79mn in net proceeds from the sale.
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The denial followed this publication’s report that Covéa had renewed its intentions to buy the reinsurer.
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The mutual’s approach comes as Scor continues efforts to fight back from performance issues including a flare-up in L&H.
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The choice to build a reinsurance unit at arm’s length alleviates some financial strain.
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The Insurance Insider US news team runs you through this week’s key M&A deals.
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The two parties are targeting a launch by the end of the year, with scope for WTW to buy the start-up at maturity.
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Zaffino said the divested crop and travel businesses needed scale to be more profitable.
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The deal helps boost Davies’ growth across North America and Canada.
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The transaction complements its previous acquisition of RMS in 2021.
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The acquisition marks Bishop Street’s entry into commercial lines.
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The take-private is expected to close by mid-2025.
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Sources said that the business will be marketed off adjusted Ebitda of ~$500mn, including a title broking asset.
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In connection with the transactions, Conifer CEO Nick Petcoff resigned from the position.
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The underwriting units produced revenue of $11mn in the year to June 30.
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Geo Europe CEO Walter Craft will remain with the financial lines business.
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The Insurance Insider US news team runs you through this week’s key M&A deals.
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Negotiations come after Insurance Insider US revealed that the Bermudian was running an auction.
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Reagan Consulting has been retained to advise the ~$125mn Utah-based brokerage.
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