M&A

The buyer says the deal involves revenue of about $1.3bn and earnings of around $357mn.

The merger partners are working towards a third-quarter completion after a side-deal they say addresses EC concerns.

Aon and Willis have been in talks with AJ Gallagher over a sale of assets the broking houses must make to gain approval for their pending merger from antitrust regulators.

Scor is to invest EUR15mn as a cornerstone investor of the blank cheque vehicle, which will float in Milan.

The report says a final decision on the structure of the deal has yet to be made.

The Capitol Forum says EU competition chief Margrethe Vestager is on board with the remedies.

The group reports an 86% CoR in its last trading update as a listed entity.

In 2020 the market fell to “near paralysis” in the early stages of the pandemic, before rebounding strongly.

The deal could be signed later this week or at the weekend, sources said.

CEO Talbir Bains founded the business in 2017 with backing from the market’s largest ILS manager.

The acquisition is the third this year for the Lovell Minnick-backed acquirer.

The regulator had previously set a 27 July deadline after the merger partners offered divestments to secure regulatory approval.