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The deal is expected to result in $700mn in combined GWP in Florida upon completion.
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The leadership’s commentary spotlighted to value of ILS to the group.
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It is understood that CyberCube has been considering a sale of the business.
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The Japanese carrier faces integration challenges to make a success of the deal.
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Aspen Capital Markets earned $169mn in fee income in 2024 alone.
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The purchase brings Sompo an established ILS platform as part of the deal.
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The Bermudian firm has an active ILS division, unlike the Japanese conglomerate’s insurance divisions.
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The transaction is expected to close later this year.
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Nationwide will delegate management of the policies to Ryan Specialty.
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M&A and shifts in distribution arrangements bring risks and opportunities.
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The deal leaves premier surety as Travelers' sole Canadian portfolio.
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The reinsurer said the probe concerns the alleged involvement of its former chairman.