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The deal covered US and European P&C liabilities for Accelerant's 2020-2021 underwriting years. -
The James River-Long Tail Re deal is the latest example of deal-specific investor capital.
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The legacy firm said the deal would strengthen its Bermuda operations.
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The transactions will de-risk all North America middle-market reserves up to 30 June 2024.
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This is Carrick’s second transaction this year and Insurance Insider understands it expects to complete others before year end.
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The firm escapes public market distractions and long-term undervaluation, but the low mark will hurt peer companies.
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The ratings agency said Sixth Street provides flexibility through long-dated capital.
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She will work on preparations for the take-private deal with Sixth Street before departing.
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The deal values the business just under its closing price on Friday, at 0.97x book value.
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The executive replaces interim CEO Paul Brockman, who remains group COO.
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Acquirers are increasingly discerning around deals, according to a report.
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