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Insurance Insider US’s morning summary of the key stories to get you up to speed fast.
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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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Trading at just 0.6x book, the firm is a cheap option for an insurer which is looking to enter E&S, or is underweight in the sector.
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The consideration is expected to be around $140mn plus a $25mn dividend.
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The broker has not been acquisitive since the deal to create the group in 2015, and has divested a number of its units in that time.
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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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Inside P&C’s news team runs you through some of the key M&A deals from the past week.
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Two days ago, the company announced the sale of its casualty reinsurance subsidiary to Fleming for $277mn.
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The low multiple shapes the decision set of the management team, negatively impacts staff, and creates potential opportunities for rivals.
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Last month this publication reported that the 777 Partners-backed company was close to signing a deal with Charlesbank.
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BroadStreet Partners, Hub International, AssuredPartners, AJ Gallagher and Inszone Insurance were the five most acquisitive buyers in Q3.
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The deal values the Bermuda casualty re subsidiary at 0.75x book with James River to receive $138mn in cash and a $139mn pre-closing dividend.