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Details of the bids are being closely guarded, but sources said they expected a valuation of $400mn or above if a deal is consummated. -
Shares, which have long underperformed, were trading up 13% following the regulatory announcement.
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The acquisition comes after Ardonagh entered the Netherlands market in October 2022 through the purchase of Léons Group.
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Insurance Insider previously reported that Nexus was acquiring a majority stake in the Dubai MGA.
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The family-owned broker is potentially looking for a strategic acquirer, sources said.
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Unilink is the largest broker in the region, with 1,300 staff providing a range of life and non-life products.
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The later notification trend means the impact of bumper M&A year 2021 on the warranty market has yet to fully materialise.
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The Gallagher-owned MGA is slightly ahead of target as it looks to hit £1bn GWP by 2025.
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The Nordic company plans to hive off its wealth management, savings and personal lines business.
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The fast-growing group – which did not exist when the UK voted to leave the EU – is now close to $500mn of adjusted Ebitda.
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The private equity house first made a significant investment in MRHT in early 2021.
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Sources suggested current minority backer AnaCap would remain an investor if a deal is agreed.
