E&S/Specialty

Private-equity firms are still interested in acquiring specialty wholesalers and managing general underwriters, but they are up against some aggressive competitors offering higher deal prices—like 6- to 8-times EBITDA, consultants say.

Private-equity firms are still interested in acquiring specialty wholesalers and managing general underwriters, but they are up against some aggressive competitors offering higher deal prices—like 6- to 8-times EBITDA, consultants say.

The specialty lines insurance industry has been a hotbed of merger-and-acquisition activity over the past year, with deals for niche specialty brokers and managing general agents getting the most attention. PropertyCasualty360 takes a look back at some of the observations dealmakers and consultants have shared this year about the abundance...

Specialty insurance company Argo Group International Holdings Ltd. said Thursday that its net income fell in the second quarter as catastrophe losses rose.

State insurance regulators and legislators will discuss later this month possible ways of harmonizing rival compacts designed to implement a surplus lines premium tax-sharing mechanism to implement a recent federal reform law.

AXIS Capital Holdings says second-quarter net income available to common shareholders dropped to $101 million from $205 million in the 2010 second quarter, as catastrophe losses drove the company’s combined ratio to 98.9, compared to 86.2 a year ago.