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The insurance services firm is owned by Lovell Minnick. -
Its PE owners have been exploring strategic options since May last year.
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The firm will have more flexibility around talent compensation and M&A activity.
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The enterprise value is around 18x Truist Insurance’s 2023 core Ebitda.
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Enstar acquired 637,640 shares of James River in Q4 last year valued at nearly $6mn.
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Arm is based in Guernsey and has a Bermudan management licence.
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Earlier in the process, sources linked Sentry Insurance with a bid for the E&S insurer.
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Howden acquired a majority interest in Mexico’s Adrisa in 2020 and Grupo Ordas in 2017.
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BP Marsh sold Thompson-founded Kentro to Brown & Brown last year.
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Investors are still keen on UK broking – but they may expect more for their money.
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According to its 2023 10-K, Gallagher spent $3.74bn on M&A activity.
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