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Gallagher paid out $1.7bn in 2024, additional to its costs for AssuredPartners.
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The executive joined the firm in early 2023 after 10+ years at Aon.
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It was the broker’s second-largest deal in Q4 after it completed the takeover of Dutch brokerage Quintes.
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The brokerage had secured a $340mn facility with JP Morgan, Fifth Third Bank and RBC in August 2023.
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Private agencies forecast median Ebitda margins of 22% for 2025, with top performers expecting 28.5%.
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The broker attributed the drop to smaller average deal sizes over the quarter.
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The Nationwide subsidiary is a $750mn-premium wholesale brokerage that serves about 10,000 local agents.
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This year's modelled outputs have increased across all return periods.
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The broker said clients could expect to see double-digit rate decreases this year.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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Sources said that Waller Helms/Houlihan Lokey is working with the firm as financial adviser.
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Insurance stocks are lukewarm amid earnings season, cats and political changes.
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