M&A

Ebitda multiples for MGAs are undented by rising interest rates, report claims.

Sources said some assets expected to be up for sale include Central American units and other businesses, including some Mexican and larger South American operations.

The investor will give shareholders up to £13mn in cash over the next three years through special dividends and share buybacks.

Morgan Stanley and Golman Sachs exercised in full their right to buy 945,000 shares in the company.

Re Solution CEO Asaf Grinstein will become CEO of Guy Carpenter Israel.

Verisk said the deal will expand its data and technology solutions for straight-through processing and distribution to a growing market of SME brokers, coverholders and MGAs.

Talanx said the transaction will make the company the third-largest P&C insurer in Latin America.

In reality, there are three credible buyers for the ~EUR200mn-book-value Darag – Riverstone, Enstar or Premia.

Sources said the (re)insurer held an equity interest of approximately 20% in the Miami-based MGA.

The transaction will coincide with a CEO succession as Karl Wall hands the reins to M&A head Tom Nichols.

The carrier intends to use the cash raised as part of its consideration for Validus.

The deal is the third scale-up buyout for the firm, highlighting the ongoing value of scale in the reinsurance segment.