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The merger may cause price increases or reduced service levels for major insurance buyers. -
The two PE firms each take a 30% stake in the business, alongside Arch management.
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Executives reiterate the mid-single expansion guidance announced in March, despite growing organically by 1% in 2020.
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The modeller had reportedly been the subject of an $86-per-share bid from real estate analytics firm CoStar prior to its $80 deal.
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Gebauer, Kent, Pullum and Garrard are among the Willis execs named to big jobs.
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Co-founders Joe King, Enda McDonnell and Adrian Ryan remain in their posts and retain minority stakes in the business.
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The vehicle raised $240mn in an offering priced at $10 a share.
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The deal is the latest in a slew of recent blank check listings this year.
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The deal “may reduce choice” for cedants in choosing reinsurance brokers, the EC said.
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The 12 Days of ILS Christmas
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HCI is offering $5.2mn in stock plus up to $3.1mn cash for the portfolio.
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The broker will operate as Acrisure Re and Acrisure London Wholesale.
