-
The deal propels Howden to become the fourth-largest global reinsurance broker. -
The business has also agreed to buy Glasgow-based trade credit broker Linda Scott.
-
Ambridge was founded 22 years ago by Jess Pryor, executive chairman, and Jeff Cowhey, CEO, who will continue to lead the company after the deal has completed.
-
The pair have acquired an MSA subsidiary that holds product liability claims for exposure to harmful substances.
-
Claims were widespread in the class of business during 2022, with almost all areas warranted claimed against.
-
While BMS has achieved a solid price and a favourable investor structure, there are signs of a cooler M&A market ahead.
-
Howden has acquired a 100% stake in Spanish broker March Risk Solutions, in a deal that pushes the revenues of Howden Iberia to more than EUR100mn ($106mn).
-
The French firm will acquire up to 34% of the broker’s share capital.
-
Plus this week’s executive moves and all the latest exclusives of the week.
-
The French firm saw off competition from Nordic Capital and Permira.
-
Major M&A this year has settled the future of a number of players – while the hard market presents an opportunity for challengers.
-
