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The CEO also said Gallagher Re posted a 12% organic revenue growth in Q1 amid the current hardening of the reinsurance market. -
Shares were trading down 6% following the publication of the broker’s Q1 results.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Sources said the executive had a minority ownership interest believed to be around 20%-30% of the operation.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Inside P&C’s news team runs you through the key M&A deals from the past week.
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The transaction is at a 97% premium to Trean’s closing price on December 15, 2022 and a 133% premium to the 30-day average price per share of $2.64.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Sources said the company has assessed different options to bring in additional capital this year as it ramps up its growth strategy.
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The companies expect to complete the transaction in the second half of the year, subject to regulatory approvals and customary closing conditions.
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With the deal, the Canadian conglomerate will boost its ownership interest in the Middle East carrier to 90%.
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Management added that the company also plans to expand into reinsurance to provide capacity in the market.
