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SiriusPoint will provide 100% capacity for Pen’s international PI portfolio. -
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.
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It was announced earlier today that the US wholesaler had agreed to acquire Atrium.
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Sixth Street and Cornell also bid for the wholesaler.
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The deal comes amidst an expected spell of M&A on Lime Street.
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The cyber business will continue to operate as a standalone entity.
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The carriers remain in takeover negotiations but have not reached a decision around valuation.
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The take-private deal was announced in July 2024.
