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Sources said the firm retained Ardea to run the process. -
The MGA will focus on insurance for agents, carrier partners and clients.
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The sale price represents Elephant’s approximate net asset value.
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The Kelso and Arch-backed run-off player has retained Evercore to advise.
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The firm acted as the front for Trouvaille Re, the E&S property sidecar for MGA AmRisc.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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Guy Carpenter president Dean Klisura added that Q1 was a record cat bond issuance quarter.
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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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Meco's 2024 gross written premiums totaled $63mn.
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The UK broker is still in talks with Mubadala about a standalone investment in the business.
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Fortegra launched a sale process months ago with Barclays and BofA advising.
