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The Insurance Insider US news team runs you through this week’s key agency M&A. -
The MGA platform wants to expand into Europe and the UK and grow its wholesale business.
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The broker will now have access to an M&A war chest for inorganic growth.
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The carrier has renewed and extended its capacity arrangement with the MGA.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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Seller White Mountains will retain a roughly 15% fully diluted equity stake.
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Proceeds will be used to pay off debt maturing at the end of the year and to support new market growth.
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The business has been ~70% owned by White Mountains since January 2024.
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The firm posted trailing 12-month organic growth of 23% YoY supported by a three-pillar strategy.
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Sources said that Howden Capital Markets is advising the fronting company.
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Spectrum joins investors ForgePoint, Hudson and MTech.
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Verisk's recent deals and its interest in cyber-analytics firm CyberCube show M&A in the segment has ticked up.
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The company will continue its capacity partnership with the MGA until 2030.
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Return horizons are shifting, and entrepreneurial underwriters should start looking at longer tail business.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The transaction marks the largest US market entry by a Korean non-life insurer.
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With the deal, sources expect backers Tiptree and Warburg Pincus to exit the Floridian insurer.
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Sources said the start-up has two $10mn+ Ebitda platform deals lined up.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The deal values the Onex-backed P&C broker at over $7bn.
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The low degree of overlap between the combining portfolios benefits both parties.
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Other parties that looked at the business include CPPIB, Permira and Carlyle, sources said.
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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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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.
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The as-yet unnamed platform will have to compete in a crowded market for M&A and lift-out opportunities.
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A process has not been launched and a firm timeline for a liquidity event has not been agreed.
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Tangram will become the inaugural portfolio company of Balavant Insurance.
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The MGA business was valued at an enterprise valuation of upwards of $1.1bn, sources said.
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