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W&I premium rates have fallen as low as 0.4% in the UK. -
The company announced in June that it had agreed to take a majority stake in the firm.
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4809 Broker’s client base includes reinsurers, banks, funds and PE firms.
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This is Carrick’s second transaction this year and Insurance Insider understands it expects to complete others before year end.
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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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The ratings agency said Sixth Street provides flexibility through long-dated capital.
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The judge relied heavily on a previous UK court decision.
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Quintes will continue to be led by Gijsbert van de Nieuwegiessen, CEO and founder.
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The deal values the business just under its closing price on Friday, at 0.97x book value.
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This publication revealed the deal, estimated at a £450mn value, earlier today.
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The broker previously indicated it has ambitions to hit £750mn in revenues by 2028.
