Capital raising
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JP Morgan and RBC are advising the brokerage on its options ahead of an eventual IPO. -
Proceeds will be used to pay off debt maturing at the end of the year and to support new market growth.
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Return horizons are shifting, and entrepreneurial underwriters should start looking at longer tail business.
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Tangram will become the inaugural portfolio company of Balavant Insurance.
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Fleming’s attempt follows those of other legacy carriers that have had recent successes raising capital.
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The fundraising focus comes after it was acquired by The Baldwin Group in Q1.
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The fundraising round brought in $50mn for the insurer.
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It is understood that CyberCube has been considering a sale of the business.
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Sources said that the start-up will be fronted by Bain-backed Emerald Bay.
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The lawsuit is the latest development in the multi-billion dollar reinsurance scandal.
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Company alum David Murie will lead the new business unit.
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In an interview, the firm’s CEO spoke about the CV deal, growth and its M&A pipeline.
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The program is set to begin binding this month.
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The MGA will expand its US reach in apartments, condo associations and single-family rentals.
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The novel product appears to have been pitched to multiple clients.
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The Bermuda SPI will write a quota share of SageSure’s captive Anchor Re.
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Morgan Stanley first invested in Cover Whale in May 2024 with structured debt.
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Softer market conditions are likely to create a wave of consolidation favoring large brokers.
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The IPO was priced at $21 per share, up from the previous target range of $18-$20.
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The IPO price is expected to be $18-$20 per share.
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This is up from the $300mn in capacity the MGA secured in 2024.
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The company resumed work on a public offering in September.
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The deal, revealed by this publication in December, values the firm at $14bn.
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Sources said NY-based Lee Equity is seeking to extend its investment in the TPA heavyweight.
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Slide is putting faith in tort reforms and will lean into Florida, CEO Lucas said.
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The Florida homeowners’ InsurTech went public today at $17 per share.
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The exchange is backed by $100mn in funding from CD&R and others.
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GCP retains a controlling interest in the Californian retail brokerage.
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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.
