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The Insurance Insider US news team runs you through this week’s key agency M&A. -
Ackman will need leaders like Ajit Jain behind him and make the right bets at the right price at the right time.
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Ackman is targeting high-teens RoE at Vantage via underwriting gains and equity investing.
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The deal follows a minority investment from the insurer in the summer.
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The Carlyle and Hellman & Friedman vehicle will sell for 1.5x book value.
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Sources said the auction launched after Thanksgiving with Relation marketed off adjusted Ebitda of around $130mn.
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The deal valued the tech-driven broker at over ~21x 2025 adjusted Ebitda, suggesting a hefty premium.
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Insurance deals leader Mark Friedman said there is a backlog of companies looking to go public.
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This publication revealed earlier Everest could sell its LatAm and Canadian units.
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Carriers underweight in E&S could lead the charge in the next round of M&A.
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Fleming Re bought the James River Re legacy book in 2024.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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