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Quintes will continue to be led by Gijsbert van de Nieuwegiessen, CEO and founder. -
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.
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The investment will be used to scale operations and extend its presence in key international markets.
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The syndicate will focus on writing non-cat delegated authority business.
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Both parties expect to close the transaction on 1 August 2024.
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The transaction will make Allianz the fourth-largest composite insurer in Asia.
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It is understood that the brokerage is working with external consultants and is open to a sale, JV or other options.
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Steadfast, AUB and BMS have joined the top 20.
