Acrisure
-
The layoffs will mostly affect workers in Michigan. -
The move marks Acrisure Re’s first investment in Latin America.
-
Volante’s syndicate may still support select transactional liability risks, but it will not have an in-house team.
-
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.
-
Acrisure followed the recaps of Hub International and Broadstreet Partners.
-
Additional investors include Fidelity, Apollo Funds and Gallatin Point.
-
The preferred shares will mandatorily convert to common equity on an IPO.
-
Insurance Insider US examines potential tariffs’ impact on the PE-backed brokers amid the jammed conveyor belt.
-
The MGA will be trying to replace the transactional liability capacity in the coming weeks.
-
Acrisure may be the first heavyweight broker to go, with Hub, BroadStreet and Howden also contenders.
-
The business is targeting an enterprise value in excess of $30bn, sources said.
-
Some will play “pretend and extend”, but others will sell to strategics or take the steep climb to an IPO.
-
The new wholesale broking team will begin with professional liability, Acrisure said.
-
A quick roundup of today’s need-to-know news, including Chubb’s Q2 earnings call.
-
-
-
The six execs left Acrisure for rival broker Woodruff Sawyer in March.
-
The team members’ backgrounds include construction, bonding and surety.
-
The P&C business will be led by managing director Brian Fischer.
-
The executive will report to Acrisure North America president Michael Cross.
-
The company’s book is being run off by Boost Insurance.
-
-
Adrian Jones will report to Acrisure’s president of global insurance Grahame Milwater, a spokesperson for the broker confirmed Tuesday.
