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The Carlyle and Hellman & Friedman vehicle will sell for 1.5x book value.
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Japanese firm MS&AD acquired 80% of ILS manager Leadenhall Capital Partners in 2019 from another affiliate.
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As the P&C market shifts, carriers are looking for growth from acquisitions.
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Founder and CEO of Nascent Andre Perez will join Sephira’s board of directors.
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Seller White Mountains will retain a roughly 15% fully diluted equity stake.
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The business has been ~70% owned by White Mountains since January 2024.
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Spectrum joins investors ForgePoint, Hudson and MTech.
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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.
