M&A

Backed by Aviva’s underwriting capacity, Optiom provides vehicle replacement insurance in Canada.

The Bill O’Farrell-led legacy business has appointed Evercore as it looks for a fresh PE or strategic backer.

WTW also said private equity will continue to dominate the M&A landscape in 2024, with firms sitting on “over $2tn in dry powder” which is ready to deploy.

UK and Europe head Pathak said MGAs offer strong cash generation and low volatility.

The $10bn broking firm is progressing in its pivot towards specialty and international business, and an asset management model.

Current CEO Thomas Bradley, who announced his intention to retire on the closure of the deal, will receive a one-time cash bonus of $1.2mn.

To help you keep track of investment activity in the UK's private broking sector, Insurance Insider has mapped out the important relationships between the key players and their capital providers.

Trading at just 0.6x book, the firm is a cheap option for an insurer which is looking to enter E&S, or is underweight in the sector.

The consideration is expected to be around $140mn plus a $25mn dividend.

The venture received “insufficient commitments” for its insurance vehicle London Innovation Underwriters.

Two days ago, the company announced the sale of its casualty reinsurance subsidiary to Fleming for $277mn.

The news comes around five months after this publication revealed that Latin America’s third-largest carrier had placed certain foreign subsidiaries up for sale.