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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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The Michigan-based firm will join Ryan Specialty’s binding authority division.
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The merger is on track to close in H2 2025, CEO Pat Gallagher said.
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This publication revealed back in February that Itel was being prepared for a sale.
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The deal values the company, formerly PCF, at roughly $5.7bn.
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The PE firm’s Aaron Cohen said full integration of broking assets is crucial.
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The acquisition follows a strategic partnership the two struck last August.
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With fee income less understood, a primary acquisition or merger could reset the narrative.
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The purchase aims to bolster Markel’s marine product line in the Asia-Pacific region and EU.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
