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The broker’s state of the market report noted that property pricing has stabilized. -
Insurance Insider US spoke with the incoming CEO to discuss the future of TIH.
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The pair will lead crisis management and financial lines, respectively.
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This is CRC’s first purchase since parent TIH sold retail broker McGriff to MMA.
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Third-party liability, auto, medmal and premises liability remain challenging.
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The carrier doesn’t have big concentrations with distributors and conducts business with individual brokers.
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Rasher also has offices in Seville, Cordoba, Valencia, Malaga, Granada and Pamplona, as well as Latin America.
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Some will play “pretend and extend”, but others will sell to strategics or take the steep climb to an IPO.
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Sources said the ~C$55mn Ebitda business retained RBC to run the strategic review.
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The deal is financially attractive, but risks diluting the jewel that is Gallagher’s US mid-market business.
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James Drinkwater is to serve as vice chair and executive chairman at Amwins Global Risks.
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The executive said the combined entity could execute 100-110 tuck-in M&A deals a year.
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