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The review follows Velocity’s acquisition by FM Group. -
Flatt will remain on the company’s board of directors.
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The deal comes around three years after Markel sold a controlling interest in Velocity for $181.3mn.
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Former COO Jack Falvey’s appointment as CEO was reported last August.
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The transaction comes after Kestrel explored a deal last quarter to raise ~$150mn of capital.
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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.
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The program was developed in collaboration with Allianz Commercial.
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The business will operate as a full-service MGU under Amynta Risk Solutions.
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Shawn Parker takes up Gatt’s previous role as COO of Westchester Programs.
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Florida is a state where the company is seeing more capacity in the market, especially admitted availability.
