MGAs/MGUs
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Seller White Mountains will retain a roughly 15% fully diluted equity stake. -
The business has been ~70% owned by White Mountains since January 2024.
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The vehicle will now cover an E&S program jointly launched with Accredited.
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The measures also seek to encourage greater wildfire mitigation efforts.
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The sidecar will support five programs providing specialty frequency coverages.
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The deal is expected to result in $700mn in combined GWP in Florida upon completion.
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Property MGA Arden Insurance Services specialises in multi-family habitations.
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The legacy player is working to secure its first deal, and could look to expand to US E&S.
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The Bermuda SPI will write a quota share of SageSure’s captive Anchor Re.
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The Cayman Islands-domiciled SPI now has four institutional backers.
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In 2024, MGA GWP reached approximately $20bn in Europe.
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Bredahl has been appointed CEO and Bonneau as chairman.
