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Sources said that the underwriter has been working with Houlihan Lokey to find a potential backer. -
The executive will focus on securing reinsurance capacity for new programs.
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The partnership is Fidelis Insurance Group’s first third-party capacity deal.
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The deal is the latest in a string of investments by the MGA platform.
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Multiple reinsurance brokers have pitched the firm for sidecars.
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The business will trade via London, the US and Canada.
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Sources said that the AmTrust-backed fronting carrier has retained Evercore to run the process.
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The MGA platform will become part of Ryan Specialty Underwriting Managers.
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Management is showcasing its ambition, but it’s also dialing up risk.
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The wholesaler also paid $11.7mn in cash to Alera for the acquisition of Greenhill Underwriting.
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It is understood that the business-to-consumer programs are not included in the potential transaction.
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It is understood that the company has retained the services of Dowling Hales as adviser.
