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The PE firm held 3.1% of the company’s shares, but will now hold none. -
Sources said that the New York-based InsurTech retained Evercore to advise on the process.
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The transaction is Davies’ largest strategic M&A addition to date.
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Sources said that the platform drafted in Ardea Partners to advise on the recap.
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Insight into the state of the insurance M&A market, powered by Insurance Insider US’s comprehensive deal database.
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Sources said that Piper Sandler is advising the Dallas-based program manager on the process.
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The executive is charged with defrauding investors out of nearly $500mn.
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Earlier this year, Insurance Insider US revealed that the PE firm was looking to extend its investment.
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E&S is most exposed to growth normalization, private credit is hunting P&C and fronting is deadlocked on exits.
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Insurers are pleased, brokers are looking for trade-offs, and everyone’s talking about Howden.
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The carrier has renewed and extended its capacity arrangement with the MGA.
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The deal will give the broker access to an M&A war chest to fuel inorganic growth.
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Seller White Mountains will retain a roughly 15% fully diluted equity stake.
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The business has been ~70% owned by White Mountains since January 2024.
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Sources said that Howden Capital Markets is advising the fronting company.
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Spectrum joins investors ForgePoint, Hudson and MTech.
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Verisk's recent deals and its interest in cyber-analytics firm CyberCube show M&A in the segment has ticked up.
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Sources said the start-up has two $10mn+ Ebitda platform deals lined up.
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The deal values the Onex-backed P&C broker at over $7bn.
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Other parties that looked at the business include CPPIB, Permira and Carlyle, sources said.
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Onex is making the investment alongside PSP, Ardian and others.
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This publication revealed earlier this year that the firm was working with Ardea to explore strategic options.
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The as-yet unnamed platform will have to compete in a crowded market for M&A and lift-out opportunities.
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This publication reported earlier today of the asset manager’s foray into the MGA space.
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The company generated $71.4mn in revenue for H1 2025.
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The new MGU is expected to formally launch before the annual WSIA marketplace in San Diego.
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The PE-backed MGA has Morgan Stanley, Bank of America and JPMorgan advising.
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A view into PE-fueled activity in the MGA sector, as LatAm carrier M&A accelerates.
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The likes of Genstar, Leonard Green and Bain also looked at the program manager.
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Sources said that the NY-based TL underwriter has retained Piper Sandler to run the process.
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Sources said that the start-up will be fronted by Bain-backed Emerald Bay.
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This publication revealed two years ago that EQT could lodge a $1bn claim.
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It is targeting low-risk specialty lines where it has a competitive edge.
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The industry veteran also served as president and CEO of Starr Global Accident & Health.
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AmeriLife and OneDigital are in the market while Relation is preparing for a liquidity event.
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A growing divide in business courts could impact future D&O underwriting, sources said.
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Morgan Stanley first invested in Cover Whale in May 2024 with structured debt.
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Sources said the Atlanta-based platform retained Evercore to run the auction.
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Sources said that Evercore is running the process, which went through first-round bids earlier this month.
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The PE-backed MGA lined up Morgan Stanley, JP Morgan and Bank of America to advise.
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This publication revealed the planned stake purchase earlier this week.
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In May, this publication revealed that Warburg was among the PE bidders for KAP.
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Arturo Pelaez will continue in his managing director role at Brookfield Asset Management.
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The Bermudian investor already owned a 1% interest in the NY-based MGA platform.
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The deal, revealed by this publication in December, values the firm at $14bn.
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A second look at the services deals boom powered by this publication’s M&A Tracker.
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Sources said BMO was retained earlier this year to advise on the strategic process.
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GCP retains a controlling interest in the Californian retail brokerage.
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Argo shelved the sale of its Bermudian insurance business in mid-2024.
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This publication revealed back in February that Itel was being prepared for a sale.
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The deal values the company, formerly PCF, at roughly $5.7bn.
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The PE firm’s Aaron Cohen said full integration of broking assets is crucial.
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Additional investors include Fidelity, Apollo Funds and Gallatin Point.
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The sale process was first reported by this publication three months ago.
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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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Flexpoint Ford has also positioned itself as a potential minority backer.
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The executive also spoke about growing organically and via M&A.
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MGA platforms, however, are seeing higher multiples than those in retail.
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Sources said JP Morgan and RBC are advising the brokerage.
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Sources said the firm retained Ardea to run the process.
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The MGA will focus on insurance for agents, carrier partners and clients.
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The deal echoes Lightyear’s earlier investment in Inszone Insurance.
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The sale price represents Elephant’s approximate net asset value.
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Sources said Morgan Stanley has been drafted in to run the auction later this year.
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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.
