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The deal is financially attractive, but risks diluting the jewel that is Gallagher’s US mid-market business.
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James Drinkwater is to serve as vice chair and executive chairman at Amwins Global Risks.
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AIG launched an IPO of Corebridge Financial in September 2022.
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The executive said the combined entity could execute 100-110 tuck-in M&A deals a year.
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The deal represents a 14.3x Ebitda multiple and strengthens Gallagher’s mid-market position.
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The deal dramatizes the jammed PE deals conveyor, with the playing field tilted towards strategics.
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There has been increased W&I appetite in South American jurisdictions.
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If the deal is finalized, it will represent the largest in the acquirer’s history.
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The insurer will conduct an audit to ensure “transparency and accountability.”
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The Insurance Insider US news team runs you through this week’s key agency M&A.
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A quick roundup of our best journalism for the week.
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The defendants allegedly issued more than 40 unauthorized insurance policies.