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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.
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Claims were widespread in the class of business during 2022, with almost all areas warranted claimed against.
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While BMS has achieved a solid price and a favourable investor structure, there are signs of a cooler M&A market ahead.
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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).
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The French firm will acquire up to 34% of the broker’s share capital.
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Plus this week’s executive moves and all the latest exclusives of the week.
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The French firm saw off competition from Nordic Capital and Permira.
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Major M&A this year has settled the future of a number of players – while the hard market presents an opportunity for challengers.
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The Cayman Islands-headquartered reinsurer held a 49% stake in the Mexican firm, according to its 2021 annual report.
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Permira, Nordic Capital and Eurazeo are in the frame to back the broker.
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