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Subsequent Events
3 Months Ended
Mar. 31, 2024
Subsequent Events [Abstract]  
Subsequent Event
Business Acquired.
On April 5, 2024, the Company announced that it has entered into a master transaction agreement to acquire the U.S. middle market and entertainment insurance businesses, including select specialty insurance programs, from Allianz Global Corporate & Specialty SE (“Allianz”) for a $450 million cash consideration to Allianz. This transaction is expected to close in the second half of 2024 and is subject to regulatory approvals.
Castel Sale.
On May 1, 2024, the Company completed the sale of Castel Underwriting Agencies Limited (“Castel”), a managing general underwriting platform headquartered in London, England, to a subsidiary of Ryan Specialty Holdings, Inc. The Company expects to recognize a gain on this transaction in its second quarter financial statements.