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AJ Gallagher had also shown an interest in acquiring the Australian retailer. -
President Tim Turner noted two pricing trends: property “stabilization” and casualty “acceleration”.
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This was Gallagher’s largest Q1 deal, followed by $66.6mn for Ericson Insurance.
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The discussions come as the region has seen increased M&A activity in recent years.
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The 100% equity award will vest in full after five years.
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Avoiding an antitrust fight aids execution, but creates uncomfortable optics around the multiple paid.
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The Insurance Insider US news team runs you through the past week’s key M&A deals.
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Gallagher expects "little impact" from the FTC’s non-compete ban on the firm’s M&A strategy.
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Aon will provide further updates on NFP and deal financials, on its earnings call tomorrow.
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The carrier will reassess the market in the fourth quarter, or early in 2025.
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The financing was oversubscribed, with strong demand from new and existing lenders.
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The transaction value represents approximately 5.9x of its 2023 revenue and 28x net income.
