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Sources said that the AmTrust-backed fronting carrier has retained Evercore to run the process. -
Nicola Gaisford joined RiverStone from R&Q last year.
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The MGA platform will become part of Ryan Specialty Underwriting Managers.
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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Sources said the brokers are in the final stages and could seal a deal in the next couple of weeks.
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Management is showcasing its ambition, but it’s also dialing up risk.
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The retail broker upsized its revolving credit and delayed draw term facilities.
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Sources said the E&S insurer is seeking to draw a line and trade forward as an independent business.
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The wholesaler also paid $11.7mn in cash to Alera for the acquisition of Greenhill Underwriting.
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Rate deceleration in property cat increased in September, and property pricing overall was down in Q3.
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The sale is expected to close next month, though terms are not yet final.
