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The Insurance Insider US news team runs you through some of the key M&A intelligence from the past week.
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The deal follows this publication’s report that the Bank of America-run sale process of Castel was drawing robust interest.
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NFP will need to be brought close enough to realize the benefits, but not so close its talent feels smothered.
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Sources said that the Citi and Ardea-run sale process is being angled to potential strategic buyers in its initial stages.
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The CEO also disclosed that the break fee on the takeover is $250mn.
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Sources suggest that Aon has been proactive in weighing acquisitions since Q4, with a US mid-market platform the obvious gap.
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The deal is expected to close in mid-2024 and will be funded by $7bn of cash and $6.4bn of Aon stock.
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The Insurance Insider US news team runs you through some of the key M&A intelligence from the past week.
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It is understood that AUB’s investment in Mexbrit includes the broker’s marine-focused MGA subsidiary Forte Underwriters.
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The suspension of Global Indemnity’s effort to sell its E&S arm is likely specific to the franchise rather than an indicator of a dealmaking slowdown.
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The Insurance Insider US news team runs you through some of the key M&A intelligence from the past week.
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Sources said the Gemspring Capital-backed group retained investment bank Baird earlier this year as adviser in the sale process.