Private equity | Insurance Insider US

The insurer will be a cornerstone investor in the manager’s new PE platform.

Sources said Jefferies and RBC have been retained to advise on the sale process.

The MGA platform has launched more than 20 new vehicles since 2021.

The driving forces which underpinned the boom in the MGA market all look markedly different from three years ago.

Its platform includes a US-based E&S carrier, a Lloyd's syndicate, two coverholder MGAs and more.

Ackman is targeting high-teens RoE at Vantage via underwriting gains and equity investing.

The Carlyle and Hellman & Friedman vehicle will sell for 1.5x book value.

Sources said the auction launched after Thanksgiving with Relation marketed off adjusted Ebitda of around $130mn.

Onex CEO Bobby Le Blanc will retire from Ryan Specialty’s board of directors.

The PE firm held 3.1% of the company’s shares, but will now hold none.

Sources said that the New York-based InsurTech retained Evercore to advise on the process.

The transaction is Davies’ largest strategic M&A addition to date.

Sources said that the platform drafted in Ardea Partners to advise on the recap.

Insight into the state of the insurance M&A market, powered by Insurance Insider US’s comprehensive deal database.

Sources said that Piper Sandler is advising the Dallas-based program manager on the process.

The executive is charged with defrauding investors out of nearly $500mn.

Earlier this year, Insurance Insider US revealed that the PE firm was looking to extend its investment.

E&S is most exposed to growth normalization, private credit is hunting P&C and fronting is deadlocked on exits.

Insurers are pleased, brokers are looking for trade-offs, and everyone’s talking about Howden.

The carrier has renewed and extended its capacity arrangement with the MGA.

The deal will give the broker access to an M&A war chest to fuel inorganic growth.

Seller White Mountains will retain a roughly 15% fully diluted equity stake.

The business has been ~70% owned by White Mountains since January 2024.

Sources said that Howden Capital Markets is advising the fronting company.