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The acquirer will carry out a ~$4bn equity placement to help finance the transaction. -
The Insurance Insider US news team runs you through this week’s key agency M&A.
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White Mountains invested $150mn in the retail platform earlier this year.
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High general liability losses are cause for concern despite modest improvements in other lines.
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The Michigan-based firm will join Ryan Specialty’s binding authority division.
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The offering comes after Acrisure’s $2.1bn convertible pref share raise.
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The merger is on track to close in H2 2025, CEO Pat Gallagher said.
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The number has expanded by around 40% from an earlier update, sources said.
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Estimates on what a cat five in downtown Miami could cost vary, but it would be painful for reinsurers.
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The latest update brings the agency’s combined estimate for Milton and Helene to $32.4bn.
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Insurers have termed the Democrat-backed legislation “flawed”.
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The executive has 15 years of experience in meteorology and cat analytics.
