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.
-
The question of how to finance the private brokers no longer begins and ends with a PE flip.
-
Inside P&C’s news team runs you through the key highlights of the week.
-
The pivot from the industry’s arch decentralizer underscores the opportunities brokers are chasing in a deteriorating operating environment.
-
The company will operate under a single brand as it moves away from its prior reputation as broking’s arch decentralizer.
-
Jennifer D’Arcy will be responsible for building out the carrier’s fac strategy for North America from London.
-
Increased cost of capital is cooling tuck-in M&A, encouraging a pivot to organic growth and forcing greater creativity around financing.
-
Singer’s hire was perceived as an attempt to build out the finance function of the broker in a way which would make the firm public market ready.
-
The proposed change could disrupt M&A at brokers, shift the calculus in favor of team lifts and dial up C-suite focus on becoming an employer of choice.
-
The appointments come after a slew of acquisitions, with many executives from acquired entities taking senior roles.
-
The launch will allow the Lloyd’s market to access a greater proportion of Acrisure’s $32bn managed premium.
-
The new recruit joins from Guy Carpenter and has worked at JLT Re and Willis Re.
-
In the first half of 2022, PCF's deal volume totaled 48 transactions, while Acrisure stood at 43 transactions.
-
The vehicle would back the broker’s MGAs but also write business channelled via its extensive retail network.
-
The top-10 US retail broker has built probably the greatest growth story in the insurance market’s history.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
A tougher environment for debt financing and a potential recession will reverse some of the remarkable tailwinds of recent years.
-
Inside P&C’s news team runs you through the key developments from the past week.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The anticipated funding round is perceived as a steppingstone towards public listing.
-
Matthew Kirk will join the carrier’s insurance executive leadership team and report to Grahame Millwater, president of global insurance.
-
Following the acquisitions of Trov and Insureon, what InsurTech M&A deals are next?
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The MGA was launched in 2017 and wrote $350mn of premium in 2021, the same year it announced the approval for a Lloyd’s syndicate.
