Transactional liability
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This publication exclusively revealed the $1bn deal last November. -
The US CEO said the acquisition will be “truly transformative” for its TL clients.
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Atlantic’s founders are to become Howden shareholders.
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He will join Gallagher as chief broking officer for EMEA transaction solutions.
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Mathew Bond will be joining as director of tax.
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Icen said the hire supports its continued investment in developing a global M&A specialist.
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Mark Wood chairs Howden Asia Pacific and Howden Private Wealth, and is deputy chair of UK&I.
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This publication revealed Jeroen van de Grampel and Nicholas Moore’s departures in August.
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Sources said the deal will value the US M&A insurance broker at over $500mn.
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Until successors start, the MGA will focus mainly on excess tax opportunities.
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In October, this publication revealed that Nexus ceased writing W&I coverage.
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Longbrook Insurance will write multiple lines of business.
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The Jay Rittberg-led program manager kicked off a strategic process in August.
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Stephan Simon left BMS in June 2024 after almost three years in the role.
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The firm offered W&I cover with capacity of up to £16mn per transaction.
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Other MGAs in the transactional-liability class are also expanding into the US.
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The MGA secured a “significant strategic investment” from Zurich earlier this year.
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Abbas Juma has spent more than seven years at Howden M&A in various senior roles.
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The executive joins from MSIG USA.
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Giles has spent more than five years at Themis Underwriting.
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An M&A senior analyst and M&A underwriter for emerging markets are also set to depart.
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The MGA has set a "new market benchmark" for non-US primary tax risk, it said.
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Plus, the latest people moves and all the top news of the week.
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Sources said that the NY-based TL underwriter has retained Piper Sandler to run the process.
