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The MGA platform will become part of Ryan Specialty Underwriting Managers. -
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 advisor.
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The binding authority facility targets smaller commercial property and general liability E&S risks.
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Capacity conversations centered around comp, trucking and cat, while new names emerged in collateralized re.
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It is understood that the cut programs include Yachtinsure, Rhino, Paramount, Pinpoint and NTA.
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Backers and CEOs may be wary of falling into the same trap as larger PE-backed retail brokers.
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Sources said that Piper Sandler is running the sale process for the ~$50mn Ebitda business.
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Sources said that a deal between the two sides could be reached in the next couple of weeks.
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Milton and Helene, casualty reserves and growth will be some of this year’s topics.
