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The broker previously indicated it has ambitions to hit £750mn in revenues by 2028.
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The investment will be used to scale operations and extend its presence in key international markets.
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The syndicate will focus on writing non-cat delegated authority business.
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Both parties expect to close the transaction on 1 August 2024.
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The transaction will make Allianz the fourth-largest composite insurer in Asia.
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It is understood that the brokerage is working with external consultants and is open to a sale, JV or other options.
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Steadfast, AUB and BMS have joined the top 20.
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Conditions are coalescing for an uptick in carrier M&A after many subdued years.
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The Lloyd’s broker specialises in US E&S business.
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The carrier made several attempts to acquire the Ash Bathia-led syndicate.
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Regulators are mulling reforms that could open the door to international independent brokers.
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