IPOs

The Validus founders also warned on the dangers of inflation and set out their philosophy on how to execute carrier M&A well.

The entrepreneur could receive upwards of $500mn of cash proceeds by selling down some of his stake.

The IPO is imminent now that pricing has been announced in deal that will value the Pat Ryan-led business at up to $5.6bn.

The stellar growth numbers presage a challenging exercise in managing investor expectations going forward amidst easing tailwinds.

The Pat Ryan-run wholesale broker said it grew organically by 20% and had $1bn in revenues in 2020.

The business was founded in 2013 by Hong Kong tycoon Richard Li and has expanded across Asia.

The wholesaler could have an enterprise value of upwards of $7bn when it goes public.

Zaffino had said he wanted the deal done by year-end but conceded that the timetable might slip into 2022 depending on regulatory factors and market conditions.