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Latest news from Brown & Brown
The broker is understood to manage Brown & Brown’s account at Howden.
The business is beginning to integrate following a $9.8bn acquisition.
The executive has been serving as COO since February.
The move includes One80 Intermediaries, formerly part of Risk Strategies.
Not everyone will emerge unscathed as brokers navigate the slow-growth environment.
The Risk Strategies parent company had also been the subject of bids from Marsh and Howden.
Brown & Brown fell 10% and Ryan Specialty 8% as investors digest the deteriorating outlook.
The broker posted a 6.5% drop in organic growth YoY.
Some E&S business is flowing back to the admitted market but so far it is “anecdotal”.
This is its second significant wholesale acquisition this year following the $54mn takeover of NBS.
The Insurance Insider US news team runs you through the earnings results for the day.
Weatherbys Hamilton provides private client, bloodstock and farm coverage.
The broker is targeting run-rate synergies of $150mn by the end of 2028.
The $10bn acquisition of Risk Strategies is the biggest broker deal relative to size we have seen.
The acquirer will carry out a ~$4bn equity placement to help finance the transaction.
Sources said that negotiations are proceeding well with a path to do a cash deal.
Q1 was the ninth consecutive quarter of below-average deal volume.
The Insurance Insider US news team runs you through this week’s key agency M&A.
It will be tough to pull off prior goals despite management assurances.
The firm acquired total assets of $65mn and assumed liabilities of $11mn.
Q1 rates in most lines were consistent with prior quarters but slightly down on 2024.
The Insurance Insider US news team runs you through the earnings results for the day.
The UK broker is still in talks with Mubadala about a standalone investment in the business.
Sources said Brown & Brown has an advantage as it entered the process several weeks ago.
Sources said the Evercore-run Risk Strategies process has drawn the interest of Brown & Brown.
Competitor news
Competitor news
Competitor news
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The Insurance Insider US news team runs you through this week’s key agency M&A. -
Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
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The selloff may hint at headwinds for equity investors.
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