Capital raising
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Earlier this year, Insurance Insider US revealed that the PE firm was looking to extend its investment. -
JP Morgan and RBC are advising the brokerage on its options ahead of an eventual IPO.
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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.
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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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Proceeds will expand the company’s reinsurance protection in Florida and South Carolina.
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The CEO said Ascot would deploy capital where it sees opportunities.
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Insurance Insider US revealed last year that Intercare had retained MarshBerry to explore strategic options.
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Insurance Insider US revealed last week that Hub had secured a ~16.5x Ebitda valuation in its “private IPO”.
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The initial offering includes 6,875,000 shares of common stock.
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The IPO was announced at the end of April, targeting ~$2.6bn-$2.9bn.
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The specialty carrier is braving volatile macroeconomic conditions in a second effort to list.
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The move will allow clients to take on larger and more complex projects
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We assess the Bermudian’s standing amid waning investor sentiment and economic uncertainty.
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The initial offering will include 6,875,000 shares of common stock.
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The carrier is offering shares priced at $29-$31.
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Sources said JP Morgan and RBC are advising the brokerage.
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The Floridian is expecting to have around 40,000 policies in force by year-end.
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Sources said the firm retained Ardea to run the process.
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The fund apparently plans to purchase life insurance policies as investments.
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The deal echoes Lightyear’s earlier investment in Inszone Insurance.
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The firm acted as the front for Trouvaille Re, the E&S property sidecar for MGA AmRisc.
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NY-based PE firm BBH Capital has exited its minority investment following the recap.
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Sources said the Ethos-led group will take roughly a 40% stake.
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This publication revealed last October that BroadStreet was seeking investors.
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Insurance Insider US examines potential tariffs’ impact on the PE-backed brokers amid the jammed conveyor belt.
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The company is expanding availability of its large enterprise offerings.
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Trouvaille II raised $580mn for 2025, compared to $325mn in 2024.
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Insurance Insider US revealed last December that the firm had retained RBC to run a strategic process.
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The MGA will grow in specialty lines via talent recruitment and M&A coupled with technology enablement.
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The start-up is closing a Series A fundraise.
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The vehicle will take a quota share of all of the risks underwritten by Ryan Specialty’s MGA arm.
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The funding round valued the company at around $850mn.
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The unfunded commitment related to the investment was $24.4mn in 2024.
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There were no signs of deceleration in claims and insurance services M&A during February.
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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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Acrisure may be the first heavyweight broker to go, with Hub, BroadStreet and Howden also contenders.
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The business is targeting an enterprise value in excess of $30bn, sources said.
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Last July, this publication revealed that the agency had retained Piper Sandler to run a process.
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The $2bn+ raise would likely rest on the base case of an IPO in the medium term.
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Sources said that with the equity refinancing, Alliant secured an enterprise value of ~$25bn.
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The firm has commenced writing collateralized retro and reinsurance, but its rated launch is still pending.
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The new, publicly listed specialty program group will be led by Luke Ledbetter.
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Fronting growth fell by half in 2024 due to uncertain loss climate and high cost of capital.
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Insight into the current state of the insurance M&A market, powered by the Insurance Insider US M&A Deal Tracker.
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The Montreal broker will use the funds to expand its Canadian operations.
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Sources said the ~C$55mn Ebitda business retained RBC to run the strategic review.
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In March, Insurance Insider US revealed that Arden had retained Dowling Hales to find an investor.
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The start-up has secured BMA approval as it looks to a 1 January kick-off.
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Insight into the current state of the insurance M&A market, powered by the Insurance Insider US M&A Deal Tracker.
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In late August, Insurance Insider US revealed that Leavitt was looking for a minority investor.
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It is understood that the TPA is working with Waller Helms on the process.
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Carlyle re-launched efforts to find minority investor last June.
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Sources said that the AmTrust-backed fronting carrier has retained Evercore to run the process.
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The retail broker upsized its revolving credit and delayed draw term facilities.
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The Hartford will assume a quota share of Coalition’s UK cyber program.
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The agreement will bolster Asic’s surplus and expand underwriting capacity.
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The equity raise was led by existing investors TowerBrook Capital Partners and Further Global Capital Management.
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The fundraise comes after the company raised $180mn of Series A funding last year.
