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Ebitda multiples for MGAs are undented by rising interest rates, report claims. -
The US retailer’s acquisition of the UK MGA and broking group will be mutually beneficial, according to executives.
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The transaction is expected to close in the fourth quarter, subject to regulatory approvals. Financial details were not disclosed.
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The executive takes on the role vacated by former Enstar M&A chief Jonathan Zisaruk.
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The broker said it intends to vigorously defend itself against Aon’s allegations concerning the departure of fac re employees.
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Juan Carlos Gomez will report to CEO of BMS International Nick Gillett.
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Aon claims that Alliant has poached around 32% of Aon’s facultative reinsurance group, including 18 of the 25 Aon employees in the casualty fac team at all levels.
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Three months ago, Starboard trimmed its stake by almost 14% to 1,925,491 shares valued at over $470mn from 2,232,209 shares at the end of Q3.
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The fac-focused reinsurance unit expects to expand into treaty over the next year and attract additional talent to boost its operations.
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Tom Wakefield will formally become CEO of Gallagher’s reinsurance broking unit on 1 June, reporting to EMEA CEO Simon Matson.
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Plus all the latest executive moves and the top news of the week.
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Cogent Andina will operate as a reinsurance broker in commercial P&C and specialty lines, including aviation.
