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The insurer will continue growing via M&A and is looking for $50mn-$500mn specialty businesses with strong leadership to expand its portfolio. -
In addition, the wholesale broker disclosed a $7.7mn consideration in the takeover of certain assets of Centurion Liability Insurance Services.
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Following the completion of this transaction, Enhanzed Re became a wholly owned subsidiary of the legacy carrier.
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American insurance broker Hub International is working with investment bank Morgan Stanley to sell a minority stake in itself in a $25 billion deal.
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Alpert joined BAML in 2018 from UBS as managing director to lead the bank’s EMEA insurance-focused team while Kleinsteuber has led the US insurance unit since 2020.
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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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Sources said the Chicago-based retail broker is in the preliminary stages of work with the intention of securing an investment later in the year.
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Inside P&C’s news team runs you through the key highlights of the week.
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R&Q is selling its 40% minority stake in Tradesman, which it acquired in 2019 following the acquisition of Sandell Re.
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The $500mn puts PCF in a position to pay substantial earnout liabilities, but also means it must find a way to get growth to outpace the coupon.
