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The vehicle has made at least 19 acquisitions since its 2020 purchase by HGGC. -
The deal gives follow form binding authority on behalf of syndicates 1609 and 5399.
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The agreement from Fleming to honour original terms still leaves it open to long-term damage.
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The parties completed the acquisition of JRG Re “at the previously agreed upon terms.”
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Ageas made headlines this year following an attempt to acquire Direct Line.
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The MGA was founded by Natasha Attray, James Dodd, James Fletcher and Charles Turnham.
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Increasingly, deals are being brought to market but not transacted on.
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R&Q Legacy will book adverse development of ~23% of net reserves for the year.
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Blue Signing Re CEO Velasquez will be XS Global's head of casualty motor, L&H and benefits.
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The MGA platform has been under auction since last year.
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Fleming had attempted to land ~$78mn in ‘economic concessions’ on the deal.
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The deal includes an LPT of ~$2bn loss reserves for 2016-2023 years with Arch Re.
