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Other parties that looked at the business include CPPIB, Permira and Carlyle, sources said. -
A federal judge restricted former Marsh employees from soliciting for Howden.
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The deal’s benefits headlined AJG’s investor day presentation.
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Onex is making the investment alongside PSP, Ardian and others.
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This publication revealed earlier this year that the firm was working with Ardea to explore strategic options.
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The mortgage insurer said Inigo will continue to operate as a standalone business.
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The acquisition furthers Howden’s expansion into the US retail space.
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The Inigo CEO said the lack of portfolio crossover was highly attractive to Inigo.
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The US mortgage insurer announced its $1.7bn acquisition of Inigo earlier today.
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Despite tort reform, physicians’ insurers are struggling with the same loss inflation challenges as other liability peers.
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The deal becomes part of a wave of carrier dealmaking.
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Sources said the agency first considered a debt raise but recently pivoted to a sale process.
