Latest news with #Accession
Yahoo
11-06-2025
- Business
- Yahoo
Brown & Brown to buy Accession Risk Management for $9.82bn
Brown & Brown has agreed to acquire RSC Topco, the holding company for Accession Risk Management Group, for a gross purchase price of $9.83bn. The terms of the agreement stipulate that Brown & Brown will acquire RSC on a cash and debt-free basis. Accession, established in 1997, operates Risk Strategies, a specialty brokerage, and One80 Intermediaries, an insurance wholesaler and programme manager. The company employs more than 5,000 insurance professionals across the US and Canada and reported pro forma adjusted revenues of around $1.7bn for 2024. Post-acquisition, Risk Strategies will become part of Brown & Brown's Retail segment, with John Mina, the current leader, joining the retail senior leadership team. Additionally, Brown & Brown will merge its Programmes and Wholesale Brokerage segments into a new specialty distribution segment. One80 Intermediaries will be incorporated into the specialty distribution segment, with executive Matt Power joining the senior leadership team. The acquisition is expected to strengthen Brown & Brown's customer, carrier partner relationships, enhance trading platforms for insurance carrier partners and contribute to revenue and cash flow growth. Brown & Brown president and CEO J. Powell Brown said: 'Combining with Risk Strategies and One80 represents a unique opportunity to bring the best of both organisations to the forefront, enabling us to augment and strengthen our collective growth." The acquisition is subject to customary closing conditions and regulatory approvals, with an expected completion date in the third quarter of 2025 (Q3 2025). Accession CEO John Mina stated: 'As we began contemplating the next major leap in our journey, we were adamant that any potential partner must have the capability and conviction to strengthen our ability to create an industry powerhouse, win amid industry consolidation, lead through innovation and champion our cultural values. "We are pleased to have found that in Brown & Brown.' In April this year, Brown & Brown (Europe) acquired Irvine Commercial Insurance Brokers, a Kenilworth-based company specialising in insurance broking services for small and medium-sized enterprises in the UK. "Brown & Brown to buy Accession Risk Management for $9.82bn " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Gulf Today
10-06-2025
- Politics
- Gulf Today
Rulers greet Jordan King on Accession to Throne Day
President His Highness Sheikh Mohamed Bin Zayed Al Nahyan has sent a congratulatory message to King Abdullah II Bin Al Hussein of the Hashemite Kingdom of Jordan on the occasion of the Accession to the Throne Day. His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mansour Bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, also dispatched similar messages to King Abdullah II on the occasion. Their Highnesses Supreme Council Members and Rulers of the Emirates have sent separate congratulatory messages to King Abdullah on the occasion of the Accession to the Throne Day. The messages were sent by Their Highnesses Dr Sheikh Sultan Bin Mohammad Al Qasimi of Sharjah; Sheikh Humaid Bin Rashid Al Nuaimi of Ajman; Sheikh Hamad Bin Mohammed Al Sharqi of Fujairah; Sheikh Saud Bin Rashid Al Mu'alla of Umm Al Qaiwain; and Sheikh Saud Bin Saqr Al Qasimi of Ras Al Khaimah. Their Crown Princes and Deputy Rulers sent similar messages congratulating the King of Jordan. In a separate development, King Abdullah II of Jordan, during a meeting with Iraq President Abdul Latif Rashid on Sunday, discussed stepping up efforts to end the war on Gaza, ensuring the uninterrupted flow of humanitarian aid, and ending the dangerous escalations in the West Bank. The meeting, held in Nice, France on the sidelines of the third United Nations Ocean Conference that kicks off on Monday, covered ways to enhance bilateral cooperation across various sectors. King Abdullah II also stressed the importance of building on the outcomes of the recent Arab Summit held in Baghdad. Also during the day, King Abdullah II, during a meeting with France President Emmanuel Macron, stressed Jordan's readiness to strengthen ties with France across various sectors, which will contribute to enhancing stability in the Middle East. WAM
Toronto Star
10-06-2025
- Business
- Toronto Star
Brown & Brown, Inc. enters into agreement to acquire Accession Risk Management Group
DAYTONA BEACH, Fla., June 10, 2025 (GLOBE NEWSWIRE) — J. Scott Penny, chief acquisitions officer of Brown & Brown, Inc. (NYSE: BRO), and John Mina, chief executive officer of Accession Risk Management Group, Inc. ('Accession'), today announced that Brown & Brown has entered into an agreement to acquire RSC Topco, Inc. ('RSC'), the holding company for Accession. The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions and regulatory approvals. Under the terms of the agreement, Brown & Brown will acquire RSC on a cash and debt-free basis at the time of acquisition for a gross purchase price of $9.825 billion. The parties previously submitted filings in respect of the Transaction under the United States Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the waiting period for such filings has already expired.
Yahoo
07-02-2025
- Politics
- Yahoo
Verkhovna Rada's Speaker: 37 MPs travelled to US at their own expense to establish contacts
The Speaker of the Verkhovna Rada (Ukraine's parliament), Ruslan Stefanchuk, said that 37 Ukrainian MPs had travelled to the United States at their own expense. Source: Stefanchuk on the sidelines of the conference Ukraine's Accession to the EU: Shaping a Transformational Agenda, quoted by Radio Svoboda Quote: "Ukraine is facing a very important task – to reset our relations with our strategic partner, the United States. And we are doing this systematically at all levels, including at the level of restoring relations with the US Congress. That is why we have a large delegation, about 37 people, of which half are from the opposition and half are from the mono-majority, to work systematically with senators to establish relations." Details: Stefanchuk said that the parliamentarians are there "not at the expense of the state, they went at their own expense". Stefanchuk assured that the work of the Verkhovna Rada does not stop. Quote: "The Ukrainian parliament is working everywhere, always working on schedule. The work of the parliament is not limited to pressing buttons in the plenary hall... it is work in committees, provisional investigative commissions and at the diplomatic level." Background: On 6 February, President of Ukraine Volodymyr Zelenskyy criticised MPs for their frequent business trips abroad, including a trip to the US for a Prayer Breakfast. "Today we are having a Prayer Breakfast in the United States of America. It is "very important" when about half of the Ukrainian parliament is at this breakfast, and not in Kherson, Kharkiv, Zaporizhzhia, or Sumy." In response to a clarifying question, however, Zelenskyy replied that he was "very pleased with the work of the parliament, but unfortunately, the parliament does not work every day." On 4 February, the Verkhovna Rada opened the historic 13th session of the ninth convocation, but MPs lacked the votes to adopt the session's agenda and legislative work plan. Due to Russia's full-scale invasion of Ukraine in February 2022, the Verkhovna Rada of the IX convocation has been working for the longest time in history. Support UP or become our patron!
