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Multiple reinsurance brokers have pitched the firm for sidecars. -
The business will trade via London, the US and Canada.
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Sources said that the AmTrust-backed fronting carrier has retained Evercore to run the process.
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The MGA platform will become part of Ryan Specialty Underwriting Managers.
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Management is showcasing its ambition, but it’s also dialing up risk.
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The wholesaler also paid $11.7mn in cash to Alera for the acquisition of Greenhill Underwriting.
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It is understood that the business-to-consumer programs are not included in the potential transaction.
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It is understood that the company has retained the services of Dowling Hales as adviser.
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The binding authority facility targets smaller commercial property and general liability E&S risks.
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Capacity conversations centered around comp, trucking and cat, while new names emerged in collateralized re.
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It is understood that the cut programs include Yachtinsure, Rhino, Paramount, Pinpoint and NTA.
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Backers and CEOs may be wary of falling into the same trap as larger PE-backed retail brokers.
