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Performance overall has been good, but there have been insurance M&A missteps and its share price has lagged. -
Inside P&C’s morning summary of the key stories to get you up to speed fast.
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This publication revealed last month that Doxa Insurance was preparing to launch a sale process after earlier attempts to reach a bilateral deal for the Century-backed MGA platform fell apart.
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Yesterday, Inside P&C revealed that the secondary deal takes the total equity raised to $4.1bn, with ~30% of the equity set to change hands.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Investors include IA Capital Group, Blue Bear Capital, Gallatin Point Capital, and Avanta Ventures, among others
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After dropping out of the strategic process in the spring, Blackstone has now come in as an investor.
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With the deal, KKR purchased over half of USI shares held by Canadian investment firm CDPQ in addition to stock from other investors.
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The reciprocal exchange received a consent order on Friday and is expected to begin underwriting in December
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Inside P&C’s news team runs you through the key highlights of the week.
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Shifting economic winds make growth plays more attractive, causing insurer stock performance to lag though short interest remains flat.
