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With the deal, CRC expects to increase its annual premium to $31.5bn from $23.5bn and grow its staff to over 5,100 employees across North America. -
The insurer is moving forward with talks to acquire the US hybrid fronting carrier, according to a Japanese newspaper.
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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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The transaction values the firm at around 17.5x Ebitda, and is a bull signal for private broker valuations.
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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 all-cash deal was completed following the closure of Metromile’s $500mn acquisition by Lemonade last week.
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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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Lemonade in November agreed to buy the Californian InsurTech in an all-stock transaction, implying a diluted equity value of $500mn, or $200mn net of cash.
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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 Goldman Sachs-run process drew limited interest and does not offer a path to takeout at a premium valuation.
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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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Three weeks past what was billed as the final bid deadline, the PE house and owner CPPIB are still engaged in work to get a transaction to the finish line.
