M&A
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Earlier this month this publication revealed that Aquiline was seeking a buyer for Accuserve.
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It is understood that the company aims to launch in Q3 or Q4 of this year.
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Trisura is expanding the firm’s licenses to include all 50 states and Washington, DC.
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The Ahoy! deal marks the first acquisition for the RedBird-backed MGA.
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The deal will create a personal lines firm controlling £3bn in premiums.
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Sources said Morgan Stanley is handling the sell-side mandate.
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This follows the broker’s report last year, which also found a “notable uptick” in claims.
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A cleaned-up combined entity could make for an attractive investment in a few years.
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Attendees noted the increased presence of service providers and carriers.
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The Insurance Insider US news team runs you through the past week’s key M&A deals.
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Sources said the process will target buyout firms and will not be open to trade bidders.
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Cove Street is 14th largest investor in Global Indemnity.
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Sources said that the E&S carriers are now poised to enter due diligence.
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Retentions and coverage could be affected by future adverse claims trends.
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Dowling Partners is advising the company.
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The talks are advanced, and the process is likely to move rapidly.
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The deal comes after 127 transactions for Risk Strategies since 2018.
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Shares had fallen over 20% since Monday.
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The all-stock indicative proposal values the business at more than 2x the share price.
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The Insurance Insider US news team runs you through the past week’s key M&A deals.
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It follows Las Vegas intermediary Insurvia, which launched an auction last year.
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The deal comes after Insurvia was seeking a new sponsor.
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The agency will track the potential impact of the lawsuit on James River’s ratings.
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The MGA’s capacity provider is Berkshire Hathaway Specialty Insurance.