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After a period of business building, MGAs will likely spend more time optimizing. -
The shares will be purchased via the open market or private third-party transactions.
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This publication revealed earlier that Command was seeking a new backer.
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It makes sense for Next to secure a sale as an exit strategy in an increasingly challenging funding environment.
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PE and international players could be drivers of P&C carrier M&A activity in the future.
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Sources said that Insurance Advisory Partners is advising the fac MGA on the strategic process.
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What insurers can learn from the history that led to this deal.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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Gallagher already has HSR approval for the $1.2bn Woodruff Sawyer acquisition.
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Ahead of the deal, Ergo owned a 29% stake in Next, which generated top line of $548mn last year.
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ProAssurance brands will be transitioned to The Doctors Company in "all/most markets" over time.
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The Californian insurer is buying the medmal carrier for $25.00 per share, or a ~60% premium.
