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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The broker has seen an “outpouring of interest” from talent looking to join since the Truist exit.
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Deal sizes also remain high, with EVs in July averaging over $440mn.
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The Insurance Insider US news team runs you through this week’s key M&A deals.
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Current backer CIVC will retain a minority stake in Y&A alongside management and staff.
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The company still has ambitions to sell the business.
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Competition is high and rates remain under pressure.
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Mexico City-based Ant was founded in 2019 by Alejandro Cabrera.
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Rusas and Miraglia will grow Alliant’s M&A nationwide.
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The Houston, Texas-based program manager will join Ryan Specialty’s healthcare MGU Sapphire Blue.
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Mainsail offers 17 lines of insurance including auto, property and commercial coverage.
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The news team runs you through this week’s key M&A deals.
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Ascot will evaluate other options for its ~$140mn-premium transactional liability unit.
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The new broking president added that hundreds of Marsh staff would not show up tomorrow at WTW.
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Travelers now holds around 6.2% of Fidelis, down from over 7.2%.
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The Insurance Insider US news team runs you through this week’s key M&A deals.
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Palomar acquired FIA for 1.7x closing book value to enter the surety market.
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The wholesaler is shifting its business mix towards delegated underwriting, which should help sustain growth.
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Quintes' revenues for 2025 are projected in the $110mn-$120mn range.
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Brady Gallagher becomes M&A director for the brokerage’s retail operations.
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The Insurance Insider US news team runs you through this week’s key M&A deals.
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Index members took over 242 agencies in the first half of 2024, down from 260 a year ago.
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The acquisition includes up to $400mn of performance-based contingent considerations measured through 2026.
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The announcement confirms news this publication revealed in July.
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Mark Lange, chief middle-market executive, will oversee the new businesses.
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