M&A

The news comes less than two weeks after the broker became part of Howden Group in a £1.1bn deal.

Cyber and M&A insurance are the emerging trends in the region fueled by increased jackpotting attacks and deal activity.

Plus this week’s Q1 results and all the top news of the week.

The Bermudian is trying to cement its pivot into specialty insurance – but selling the reinsurance unit may prove tricky.

The broker completed five tuck-in brokerage mergers in Q1, the same number as the previous year, but totaling $32.2mn, down from $89.7mn in Q1 2021.

The carrier also revealed $30mn in Russia-Ukraine Q1 losses.

Ron Bobman first called for the sale of the firm back in September 2021, and recently launched a proxy campaign to join its board.

Argo’s board is considering a potential sale as it announced an “exploration of strategic alternatives”, which will also consider a merger or other strategic transaction.

he company has also set the closing date for the transaction to go through as 1 April 2023.

Jefferies has been awarded the mandate to seek a buyer for the segment.

Acrisure entered into a definitive agreement with Markel in March to acquire the MGA.

The group acquired 13.97 million shares of Sura stock at almost $9.88 per share via the public acquisition offer, valuing the interest at almost $140mn.