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Negotiations come after Insurance Insider US revealed that the Bermudian was running an auction.
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Reagan Consulting has been retained to advise the ~$125mn Utah-based brokerage.
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The broker has seen an “outpouring of interest” from talent looking to join since the Truist exit.
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Deal sizes also remain high, with EVs in July averaging over $440mn.
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The Insurance Insider US news team runs you through this week’s key M&A deals.
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Current backer CIVC will retain a minority stake in Y&A alongside management and staff.
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The company still has ambitions to sell the business.
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Competition is high and rates remain under pressure.
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Mexico City-based Ant was founded in 2019 by Alejandro Cabrera.
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Rusas and Miraglia will grow Alliant’s M&A nationwide.
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The Houston, Texas-based program manager will join Ryan Specialty’s healthcare MGU Sapphire Blue.
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Mainsail offers 17 lines of insurance including auto, property and commercial coverage.