Announced
Financials
Tags
Private
United States
insurance services
Insurance Brokers
Acquisition
Majority
Private Equity
Cross Border
Pending
Friendly
Single Bidder
Synopsis
Onex, an investment manager, agreed to acquire Accredited, an insurance services provider, from R&Q Insurance, a non-life specialty insurance company, for $465m. “We are pleased to have the opportunity to establish Accredited as an independent, market-leading program management platform. Accredited has all the ingredients for success as a hybrid carrier, including a talented management team, a well-diversified and high-quality book of business, strong reinsurer relationships and robust underwriting and risk management protocols. It will be well positioned for responsible growth with a strong balance sheet and backing from Onex Partners. Investing in the insurance industry has been a core strength for Onex for many years. We look forward to supporting Accredited’s management team in this next phase of growth," Adam Cobourn, Onex Managing Director.
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