The proposed capital injection would be structured as preferred equity, allowing Acrisure's existing backers'specifically BDT & MSD Partners, which led a $3bn senior preferred stock investment in 2021'to partially redeem their positions. Final terms of the deal are still under negotiation. Founded in 2005 and headquartered in Grand Rapids, Michigan, Acrisure has become one of the largest independent insurance brokers globally, reporting more than $4.8bn in revenue. Its investor base includes prominent names such as the Abu Dhabi Investment Authority, Guggenheim Investments, and Oak Hill Advisors. Led by co-founder and CEO Greg Williams, Acrisure has previously considered an initial public offering but opted for alternative capital strategies amid market volatility and shifting trade policies under former US President Donald Trump. For Bain Capital, the potential investment in Acrisure marks the latest in a series of strategic moves to expand its insurance exposure. Earlier this month, Bain Capital committed $825m for a 9.9% stake in Lincoln Financial Group, alongside a long-term investment management partnership. In March, Bain Capital Insurance also invested in Leading Edge Claims Service, further deepening its footprint in the sector....

Although financial terms were not disclosed, the sale is expected to reflect Elephant's net asset value. The move comes after Admiral's strategic review of its US operations, following several years of underperformance and limited customer growth. Founded in 2009, Elephant Insurance struggled to scale in the competitive US market, ending 2024 with a customer base of 140,000'making it the smallest of Admiral's four international ventures. Despite a '19.6m loss in 2023, the business rebounded in 2024, generating '14m in profit. Costantino Moretti, head of international insurance at Admiral, said, 'Selling the company to J.C. Flowers is the right decision to ensure its future success. This partnership will allow the business to continue delivering high-quality products to US motorists.' The transaction marks another significant investment by J.C. Flowers in the financial services sector. The firm, led by former Goldman Sachs partner J. Christopher Flowers, has previously backed companies including Co-Op Bank, OneSavings Bank, and interactive investor....

The transaction, expected to complete in the second half of 2025 pending regulatory approval, follows Bain's acquisition of Esure in 2018 for '1.2bn. Since then, the private equity firm has supported a digital and operational transformation that culminated in a strong financial turnaround. Esure generated '1.3bn ('1.5bn) in revenue and '146.7m ('126.8mn) in trading profit in 2024, rebounding from a loss in the previous year. Ageas, which previously made unsuccessful takeover attempts for Direct Line, said the acquisition will unlock at least '100m ('115.8mn) in annual pre-tax synergies and grow its UK market revenue to '3.8bn ('3.3bn) by 2028. Esure's brand portfolio includes Sheilas' Wheels and First Alternative, and it operates a strong presence on price comparison websites. Hans De Cuyper, CEO of Ageas Group, stated the deal would position Ageas UK among the top three personal lines insurers. Esure CEO David McMillan highlighted the complementary nature of the firms' broker relationships, technology platforms, and brand portfolios....

Ontario Teachers' Pension Plan, which first acquired a majority stake in BroadStreet in 2012, will retain a significant co-control position and continue to back the company's growth alongside the new investor group. Ontario Teachers has been instrumental in BroadStreet's rise to become one of the leading private brokerages in North America, now operating across all 50 US states and all 10 Canadian provinces. BroadStreet, known for its unique co-ownership structure, partners with leading independent insurance agencies'its Core Agency Partners'across the continent. More than 800 employees hold equity stakes within their agencies, reinforcing the firm's decentralised growth model. Advisory firms on the transaction included Ardea Partners as lead financial adviser, with RBC Capital Markets and BMO Capital Markets acting as co-advisers. Legal counsel was provided by Latham & Watkins and Torys for Ontario Teachers and BroadStreet, Kirkland & Ellis for Ethos Capital, Debevoise & Plimpton for BCI, and Cravath, Swaine & Moore for White Mountains....