Service provider

The company and its main debt provider Ares agreed to relax its debt terms in April.

A former NOAA climatologist who left the agency is running the new operation.

Earlier this year, Insurance Insider US revealed that the PE firm was looking to extend its investment.

Spectrum joins investors ForgePoint, Hudson and MTech.

The executive has been with ASG since it was formed in 2016.

As part of the transaction, PE firm Atlas Merchant has agreed to sell its interest in MarshBerry.

A survey from PwC described the sector as “stable”, “evolving” and “dynamic”.

The firm's risk exchange platform was “highly dependent” on SME and specialty business, CEO Radke said.

The US has been lucky over recent decades to avoid a $100bn insured hurricane event.

Both organisations still predict an above-average hurricane season.

The forecast has increased since the early July update due to several additional factors.

The model becomes the second in the state to get approval to affect ratemaking applications.

The company provides management workflow for residential contractors.

The executive said the claims industry is going to “be transformed”.

The IPO was priced at $21 per share, up from the previous target range of $18-$20.

The weather-modelling agency is predicting a below-normal season.

The company resumed work on a public offering in September.

A second look at the services deals boom powered by this publication’s M&A Tracker.

Sources said NY-based Lee Equity is seeking to extend its investment in the TPA heavyweight.

The number has expanded by around 40% from an earlier update, sources said.

The latest update brings the agency’s combined estimate for Milton and Helene to $32.4bn.

This publication revealed back in February that Itel was being prepared for a sale.

The sale process was first reported by this publication three months ago.

The exec said if he were a carrier CEO, now is the time he would start looking for deals.

Insurance Insider US revealed last year that Intercare had retained MarshBerry to explore strategic options.

The executive will define strategic priorities and guide global growth.

The specialty insurance platform has now exceeded $3.1bn in premiums.

This publication revealed earlier that Command was seeking a new backer.

Kathleen Reardon, CEO of Hiscox Re & ILS, also talked about the impact of the California wildfires and why it’s important for cedants to work with a reinsurer with strong underwriting and modelling skills when disaster strikes.

The news comes around three months after GTCR agreed to sell AssuredPartners to AJ Gallagher for nearly $13.5bn.

The role at PCS included acting as primary touchpoint for ILS.

Sources said the Lake Mary, Florida-based firm is working with boutique bank Lincoln International.

The industry loss number has increased threefold from an initial $5bn pick.

AM Best said it expects insured losses from the California wildfires to be “significant”.

The loss figure has increased 200% from the initial number provided in October.

Funding has reached $3.2bn over the first three quarters, 7% less than in 2023.

The loss tally is considerably lower than estimates issued by model vendors.