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The federation, FASE, aims to connect all participants to provide a voice for European MGAs.
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The deal confers a high multiple on Convex and gives AIG re/specialty exposure.
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The business has not initiated a sale process, with the wheels not yet actively turning on an exit for Apiary.
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Under the terms of the offer, shareholders would receive A$45 for each AUB share.
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The Australian broker, which owns Tysers, announced a trading pause.
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Private capital providers are being signed down as two strong years have piqued interest.
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The EUR100mn+ Ebitda firm is courting both PE and trade suitors.
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The executive is charged with defrauding investors out of nearly $500mn.
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It comes as the MGA expects to write more than $1bn of premium in 2026.
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The carrier has renewed and extended its capacity arrangement with the MGA.
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Seller White Mountains will retain a roughly 15% fully diluted equity stake.
