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A rebound is expected this year, however, led by strong US activity. -
The company said it now expects the transaction to close in H2 2025.
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Andrew Johnson, Edwina Charlton and Rupert Newman join from Paragon.
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The California broker’s pro forma revenue for full year 2024 was $268mn.
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The two Asian companies wrote $265mn net premiums in 2024.
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Some firms are broadening their M&A net in light of PE firms showing more restrained appetite for intermediaries.
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PIB’s broadened sale process is symptomatic of wider investor sentiment around brokers.
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This was Ryan’s second-largest 2024 deal, after its $1.4bn Assure purchase.
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The specialty MGA is being watched closely by PE houses for signs of movement on a sale.
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Plus, the latest people moves and all the top news of the week.
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Continuum is advising the distribution group, which halted its auction in February 2024.
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As the market turns, balance sheet M&A is becoming a more appealing option.
