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PE owner Livingbridge brought the broker to market two years ago.
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Weatherbys Hamilton provides private client, bloodstock and farm coverage.
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Sources said MarshBerry is advising the underwriter.
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The expansive European broker is targeting Mike Parrish’s team and former McGriff staff.
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The medical professional liability firm is targeting further healthcare opportunities.
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The medical liability carrier said the deal marks a strategic shift.
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SiriusPoint will provide 100% capacity for Pen’s international PI portfolio.
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Continued Apax and Carlyle support will give PIB time to differentiate its business.
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A second syndicate is being explored for “big and bold” new lines
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Plus, the latest people moves and all the top news of the week.
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Apax and Carlyle will continue to back the broker consolidator.
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The business is one of the first to sell in this round of Lloyd’s M&A.