Risk Strategies
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The business is beginning to integrate following a $9.8bn acquisition. -
The move includes One80 Intermediaries, formerly part of Risk Strategies.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The Risk Strategies parent company had also been the subject of bids from Marsh and Howden.
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The $10bn acquisition of Risk Strategies is the biggest broker deal relative to size we have seen.
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The acquirer will carry out a ~$4bn equity placement to help finance the transaction.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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Sources said that negotiations are proceeding well with a path to do a cash deal.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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The UK broker is still in talks with Mubadala about a standalone investment in the business.
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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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Sources said Brown & Brown has an advantage as it entered the process several weeks ago.
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Sources said the Evercore-run Risk Strategies process has drawn the interest of Brown & Brown.
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The announcement comes amid discussions regarding a potential merger with Howden.
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Challenges will include boosting the target’s organic growth, Building the Machine, and prepping for an IPO.
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Some will play “pretend and extend”, but others will sell to strategics or take the steep climb to an IPO.
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In June, Insurance Insider US revealed that the ~$550mn Ebitda business is working with Evercore to bring in a new ~30% backer.
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Sources said that Evercore has been retained to run the strategic process for the ~$550mn Ebitda business.
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Heron has over 25 years of brokerage experience, mostly in real estate roles.
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Peter Fallon is retiring at year’s end after two decades with the firm.
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Drew Carnase joined Risk Strategies two years ago and will be based in Boston, focusing on scaling and optimizing the commercial lines operations.
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The companies will operate under common ownership of their private equity sponsor, Kelso & Company.
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The executive joined Risk Strategies in 2014 through the acquisition of DeWitt Stern, where she served since 2000 and held a fine arts VP role.
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This latest incremental financing is Golub Capital's 13th transaction with Risk Strategies since 2015.
