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The MGA adds more East Coast states, bringing its total served to 16.
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Two executives join from LV=Broker to run the small business unit.
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The process looks set to value business at upwards of £180mn, or 12x Ebitda.
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The carrier’s tie-up with the AIG unit helped secure its A rating from Demotech.
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The group has combined Markerstudy, Zenith Insurance Management and Zenith Marque Insurance.
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MGA platform Innovisk is at minimum a noteworthy side project for backer Willis Towers Watson, though it could be an underwriting beachhead.
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The intermediary’s latest deal follows its Sullivan Group acquisition last month.
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The MGA platform plans to grow via Amsterdam.
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The bidders are likely to include Aviva, Axa, Allianz and RSA. -
Development manager Mark Copsey said the move will bolster the MGA in its target markets.
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The group has reported Q1 growth in all business units except its MGA.
