Acrisure
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The offering comes after Acrisure’s $2.1bn convertible pref share raise. -
Acrisure recently raised $2.1bn from investors in its latest step towards an IPO.
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Acrisure followed the recaps of Hub International and Broadstreet Partners.
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Additional investors include Fidelity, Apollo Funds and Gallatin Point.
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The preferred shares will mandatorily convert to common equity on an IPO.
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Insurance Insider US examines potential tariffs’ impact on the PE-backed brokers amid the jammed conveyor belt.
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The MGA will be trying to replace the transactional liability capacity in the coming weeks.
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Acrisure may be the first heavyweight broker to go, with Hub, BroadStreet and Howden also contenders.
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The business is targeting an enterprise value in excess of $30bn, sources said.
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Some will play “pretend and extend”, but others will sell to strategics or take the steep climb to an IPO.
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The new wholesale broking team will begin with professional liability, Acrisure said.
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A quick roundup of today’s need-to-know news, including Chubb’s Q2 earnings call.
Related
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Acrisure hires NYSE’s Tuttle as president
July 24, 2024 -
Acrisure taps ADIA’s Miller as CFO
July 08, 2024 -
Acrisure sues six former NY employees for breach of contract
April 01, 2024 -
Acrisure launches wholesale P&C brand Wholesure
February 29, 2024