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Sources said Morgan Stanley has been drafted in to run the auction later this year. -
In operation since 1991, Pearl represents Ocean Harbor and Equity insurance companies.
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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 executive was most recently chief revenue officer at Aon.
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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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Sources said Brown & Brown has an advantage as it entered the process several weeks ago.
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This publication revealed earlier that Command was seeking a new backer.
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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.
