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It comes as the MGA expects to write more than $1bn of premium in 2026. -
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.
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West Hill Capital is the main investor in the capital raise.
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The business has been ~70% owned by White Mountains since January 2024.
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What’s driving the wave of shifting ownership structures in the Lloyd’s market?
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Spectrum joins investors ForgePoint, Hudson and MTech.
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Current backer JC Flowers will retain its holding and the cash will fund a Bermuda acquisition.
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Aon’s Enrico Vanin will lead the platform as CEO.
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Insurance Insider reported earlier today of the asset manager’s foray into the MGA space.
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The tech firm is building a joint stock company with insurers and investors.
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The broker’s joint venture with Bain Capital still lacks a CEO.
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The deal ends Livingbridge’s two-year attempt to sell the UK broking/MGA platform.
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Sources said that the NY-based TL underwriter has retained Piper Sandler to run the process.
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The deal comes amid heightened interest in German distribution assets.
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This publication revealed two years ago that EQT could lodge a $1bn claim.
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It is targeting low-risk specialty lines where it has a competitive edge.
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The firm has quadrupled its Ebitda since 2022.
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Insight into the state of the insurance M&A market, powered by this publication's deal database.
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Goldman Sachs and Cinven have also participated in the German broker’s sale process.
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PE owner Livingbridge brought the broker to market two years ago.
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Continued Apax and Carlyle support will give PIB time to differentiate its business.
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The business is one of the first to sell in this round of Lloyd’s M&A.
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Arturo Pelaez will continue in his managing director role at Brookfield Asset Management.
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The Bermudian investor already owned a 1% interest in the NY-based MGA platform.
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The deal, revealed by this publication in December, values the firm at $14bn.
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Insight into the state of the insurance M&A market, powered by this publication's deal database.
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The investment comes amid expectations of a new cycle of deals.
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Who will buy the swathe of PE-backed Lloyd’s firms coming to market over 2025-26?
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Argo shelved the sale of its Bermudian insurance business in mid-2024.
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The PE firm’s Aaron Cohen said full integration of broking assets is crucial.
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The dropped process is JC Flowers’ second attempt to sell the international broker.
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Insight into the state of the insurance M&A market, powered by this publication's deal database.
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JMG chief Nick Houghton will remain in post after the sale.
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Abry and Oak Hill also participated in the Evercore-run process.
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Insight into the state of the insurance M&A market, powered by Insurance Insider’s comprehensive deal database.
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Investor interest is mounting in German broking assets.
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The business is majority-owned by Castik Capital.
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The sale price represents Elephant’s approximate net asset value.
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The IGH closure is bitter for employee investors left with nothing – but such investments are inherently risky.
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Insight into the state of the insurance M&A market, powered by Insurance Insider’s comprehensive deal database.
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Integro’s debt outweighed Tysers’ earn-out plus proceeds from 9 million AUB shares.
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Reported income for the year rose 24% to $1.98bn.
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The executive said MGA and broking start-up activity looked set to continue.
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Is the MGA start-up boom here to stay?
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Some firms are broadening their M&A net in light of PE firms showing more restrained appetite for intermediaries.
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PIB’s broadened sale process is symptomatic of wider investor sentiment around brokers.
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The broker is understood to be seeking a consideration of £3.75bn+.
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With Atrium marking another case of potential bifurcation, where is the natural home of risk?
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These businesses are expecting more premium growth than the wider market this year.
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Insight into the current state of the insurance M&A market, powered by the Insurance Insider M&A Deal Tracker.
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The broker consolidator’s owners hired Evercore for a process in the autumn.
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Insight into the insurance M&A market, powered by Insurance Insider’s deal database.
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WTW will hold a significant minority stake in the start-up with an option to acquire complete ownership over time.
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Insight into the current state of the insurance M&A market, powered by the Insurance Insider M&A Deal Tracker.
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Carlyle re-launched efforts to find minority investor last June.
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The investor has paid in an extra £12.5mn for an additional 5% holding.
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The firm escapes public market distractions and long-term undervaluation, but the low mark will hurt peer companies.
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This is not the first pulled strategic process in the adjusting, and broader claims services, sector in recent months.
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