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The deal becomes part of a wave of carrier dealmaking. -
There will also be a renewed focus on organic growth, both in P&C and across US and international operations.
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Insurance Insider reported earlier today of the asset manager’s foray into the MGA space.
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The deal represents a first entry into the US MGA market for the $1.1tn asset manager.
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Plus, the latest people moves and all the top news of the week.
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Giles has spent more than five years at Themis Underwriting.
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From aviation claims to retention challenges, underlying dynamics will take time to play out.
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The deal is expected to result in $700mn in combined GWP in Florida upon completion.
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Lenders include Morgan Stanley, Permira and Bridgepoint.
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An M&A senior analyst and M&A underwriter for emerging markets are also set to depart.
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The MGA has set a "new market benchmark" for non-US primary tax risk, it said.
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The company, however, sets a high bar on making a move.
