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The Corporation’s CUO said managing agents must ensure they manage the future differently to the past.
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The UK subsidiary of Carrick will acquire BMS International Insurance DAC and Seamair Insurance DAC.
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Future deal flow in the US could come from more adequately reserved liability lines.
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The take-private is expected to close by mid-2025.
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Hundle & Partners will provide capital support for the business, which will focus on acquiring corporate liabilities.
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Sources said the venture will look to service both US and European corporates and is backed by family office money.
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The deal covered US and European P&C liabilities for Accelerant's 2020-2021 underwriting years.
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The James River-Long Tail Re deal is the latest example of deal-specific investor capital.
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The legacy firm said the deal would strengthen its Bermuda operations.
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The transactions will de-risk all North America middle-market reserves up to 30 June 2024.
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This is Carrick’s second transaction this year and Insurance Insider understands it expects to complete others before year end.
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The firm escapes public market distractions and long-term undervaluation, but the low mark will hurt peer companies.