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The deal comes after 127 transactions for Risk Strategies since 2018. -
Shares had fallen over 20% since Monday.
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The all-stock indicative proposal values the business at more than 2x the share price.
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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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It follows Las Vegas intermediary Insurvia, which launched an auction last year.
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The deal comes after Insurvia was seeking a new sponsor.
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The agency will track the potential impact of the lawsuit on James River’s ratings.
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The MGA’s capacity provider is Berkshire Hathaway Specialty Insurance.
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James River sued Fleming yesterday to enforce the $277mn sale of its casualty re unit.
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Fleming has claimed breach of contract and is seeking roughly $78mn in “economic concessions”.
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The Insurance Insider US news team runs you through the key M&A deals from the past week.
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Parties will be invited to submit bids again later this month.
