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Ex-Ariel CFO Angus Ayliffe becomes the latest member to join the team, which Jeff Clements will lead. -
The broker will add a Belgian office alongside its London operation for post-Brexit trading.
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The unit will advise on M&A, capital raising and risk securitisation.
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The deal will help the Aquiline-owned syndicate diversify away from motor insurance.
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Six “mega-rounds” made up 69% of the total, including Ki, Next Insurance and Hippo.
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The deal is likely to be one of the largest US P&C broking transactions of the year.
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The MGA will write business under the Co-op brand as part of a 13-year partnership.
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Luke Tanzer will remain the managing director and said the deal represented a “runway for future growth”.
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The parties have also agreed to an exclusive 20-year distribution arrangement.
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The Day 1 launch via a listing without PE cornerstone investors is an effective first for the (re)insurance sector.
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The deal will accelerate the pivot of the acquirer from motor insurer to multi-class specialty player.
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The deal on the heels of the purchase of Miller establishes Cinven as a significant non-life insurance-sector investor.
