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Insight into the current state of the insurance M&A market, powered by the Insurance Insider US M&A Deal Tracker.
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The Montreal broker will use the funds to expand its Canadian operations.
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Sources said the ~C$55mn Ebitda business retained RBC to run the strategic review.
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In March, Insurance Insider US revealed that Arden had retained Dowling Hales to find an investor.
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WTW will hold a significant minority stake in the start-up with an option to acquire complete ownership over time.
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Insight into the current state of the insurance M&A market, powered by the Insurance Insider US M&A Deal Tracker.
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In late August, Insurance Insider US revealed that Leavitt was looking for a minority investor.
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Sources said that the underwriter has been working with Houlihan Lokey to find a potential backer.
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It is understood that the TPA is working with Waller Helms on the process.
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Carlyle re-launched efforts to find minority investor last June.
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Sources said that the AmTrust-backed fronting carrier has retained Evercore to run the process.
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The executive spent over 15 years at Aon in various M&A-related positions.