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The company has no immediate plans to re-deploy proceeds from recent sales in Europe and LatAm. -
Insurance Insider US examines public brokers’ 2023 M&A.
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The PE firm put SCM up for sale last year.
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Sources said that Jefferies and Waller Helms have the mandate.
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The transaction for the financial services book leaves the legacy behind.
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The Specialty Markets Group produced DWP of $388mn in 2023.
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The subsidiary generated 2023 gross revenue of $34mn and adjusted Ebitda of ~$5mn.
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Ryan entered into a £200mn currency forward to manage the appreciation risk of the Castel deal.
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The deals completed in 2023 represented over $140mn of annual historic revenue, Ryan said.
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The latest development comes on the heels of the Corvus-Travelers deal.
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The insurance services firm is owned by Lovell Minnick.
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The Insurance Insider US news team runs you through the key M&A deals from the past week.
