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The fundraising structure for the deal includes a $600mn Convex debt raise. -
The broker will join Ron Borys’ financial lines team.
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The broker has more than 20 years’ experience in the energy market.
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Onex’s own balance sheet will become a 63% owner and AIG takes a 35% stake.
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The broker said it was on track to hit its financial goals despite macro uncertainty.
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Greenberg has strong links with IQUW management, and praised the firm’s leadership and cultural fit.
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Everest’s AIG deal meaningfully cuts its primary exposure.
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In insurance, premium growth came from all lines of business except cyber.
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Rates pulling back will rein in some of the excess margin obtained over the past three years, he said.
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This publication revealed that Starr was zeroing in on the deal earlier today.
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The parties could announce the transaction soon, according to sources.
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