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The move follows an earlier announcement in May, when SiriusPoint disclosed that its equity stake in the Bermuda-based MGA was reduced to 49% from 100%. -
Neptune comprises over 5% of the National Flood Insurance Program, making it the primary alternative to the NFIP.
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Sources said MGA multiples are holding in the mid-to-high teens range while they still see strong PE and strategic appetite for the fronting sector.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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R&Q CEO William Spiegel will transfer to the Accredited program management business.
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White Mountains’ final stake could range between 62%-81% of Bamboo, and the Bermudian’s investment in connection with the deal could be around $246mn-$323mn.
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With record attendance, the conference was a reflection of how much the MGA space has grown and continues to grow.
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First-round bids for the company were due in late September.
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The new platform includes over 400 workers’ compensation classes, including contractors, healthcare, hospitality, manufacturing and transportation.
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Inside P&C explores topics that will likely be addressed at the Target Markets 2023 annual conference.
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Pera is launching as a division of Desq — USQRisk’s managing general agent accelerator/incubator — and is the first program Desq has brought to market.
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Inside P&C’s morning summary of the key stories to get you up to speed
