Insurers
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The bank observed that multiples in the last M&A cycle ranged from 1.6x to 2.5x. -
The company said prior bids from Zurich “significantly undervalued” the business.
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The insurer will be a cornerstone investor in the manager’s new PE platform.
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The executive’s departure comes amid a wave of cyber reshuffling in the industry.
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Sources said they expected FM to keep around $2bn of the maximum line net.
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The biggest riser in this year’s Allianz Risk Barometer was AI.
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Preeti Gureja has held senior roles at Chubb and AIG.
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The property insurer has secured significant additional capacity for its FM Intellium unit.
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November hailstorms and current storms and bushfires racked up claims.
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The report emphasises the need for clarity around roles and responsibilities.
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Tokio Marine HCC, Chubb, IQUW and BluNiche are also on the tower.
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Jen Tan was most recently head of portfolio strategy.
