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The unit will advise on M&A, capital raising and risk securitisation. -
The deal will help the Aquiline-owned syndicate diversify away from motor insurance.
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This is the fourth acquisition by Ardonagh's Geo this year, following transactions involving Rural, Thames Underwriting and KGM Underwriting.
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The Day 1 launch via a listing without PE cornerstone investors is an effective first for the (re)insurance sector.
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The deal will accelerate the pivot of the acquirer from motor insurer to multi-class specialty player.
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ILS manager Hudson Structured is among the prior owners selling Compre, after buying into the legacy firm in January.
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As part of the deal Pelican Ventures and JC Flowers will provide capital for 2021 onwards, with Argo maintaining responsibility for years prior.
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The tactic comes after the investors had three nominees installed on the risk modeller’s board this week.
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The subsidiary was formed in the summer and is deploying capital from the sale of Maison.
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The three director changes fall short of a proposal by former bidders Senator and Cannae.
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It is expected that the transaction will close in the first quarter of 2021 and that Vault will retain its A- rating from AM Best.
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The exec was speaking after the broker was acquired by Cinven and GIC in a multi-hundred million deal.
