McGriff
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This would allow the former Truist Insurance to place binders on its MGAs itself and open other growth opportunities in EC3. -
The deal’s closing comes just a month and a half after the companies announced the transaction.
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The transaction will be one of the largest involving two strategics in broking history.
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With the disposal, TIH would amass a robust war chest for a looming MGA consolidation arms race.
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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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Sources said Stone Point and CD&R will each have stakes of around 35%.
