Capital raising
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GCP retains a controlling interest in the Californian retail brokerage. -
White Mountains invested $150mn in the retail platform earlier this year.
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The Series C brings the company's valuation to $2.1bn, its highest to date.
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The offering comes after Acrisure’s $2.1bn convertible pref share raise.
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The deal values the company, formerly PCF, at roughly $5.7bn.
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BP Marsh has subscribed for a 49% shareholding in the start-up MGA.
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Starr joins a panel that includes capacity from Axis and Skyward.
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The $2.59bn renewal is up 45% from last year.
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Acrisure recently raised $2.1bn from investors in its latest step towards an IPO.
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Fox highlighted the increasing role of alternative capital and creative financial vehicles.
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Additional investors include Fidelity, Apollo Funds and Gallatin Point.
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The program will succeed the previous buyback launched in 2023.
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