M&A

Odyssey began preparing Tysers for sale in May 2021 and launched a formal auction for it in June 2021.

The independent broker has an end to its long search for a new owner in sight.

The deal will also provide $100mn in new equity funding to the legacy carrier.

Neosurance will use the investment to advance product development and accelerate international growth plans.

The majority of BLM’s lawyers will join Clyde & Co’s casualty insurance practice as part of the deal.

If you only read a handful of articles this week, make it the selection below.

The payment comes on top of an original consideration of $9bn.

The firm ranks among the three largest retailers in Peru, and talks come amidst a pick-up in M&A in Latin America.

The two former Agora department heads have left IQUW after less than six months at the syndicate.

Investment firm BP Marsh has acquired a 40% holding in start-up Lloyd’s broker Denison and Partners and provided a loan facility, stumping up aggregate funding of £802,000 ($1.05mn) for the company.

Unlike deals like Axa-XL or Catlin-XL before it, this transaction is expected to be much more neutral in its impact on reinsurers.

The multiple of 1.26x is lower than a number of recent major reinsurance transactions.