Acrisure
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The layoffs will mostly affect workers in Michigan. -
The move marks Acrisure Re’s first investment in Latin America.
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Volante’s syndicate may still support select transactional liability risks, but it will not have an in-house team.
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The offering comes after Acrisure’s $2.1bn convertible pref share raise.
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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.
