Arch Capital Group Ltd., a Bermuda-based provider of insurance, reinsurance and mortgage insurance, has entered into a definitive agreement to acquire McNeil & Co., a nationwide provider of specialized risk management and insurance programs headquartered in Cortland, N.Y. Terms of the transaction were not disclosed.
The transaction is expected to close later this quarter and is subject to closing conditions, including regulatory approvals, clearances and relevant jurisdictions.
McNeil will retain its identity and remain headquartered in Cortland, N.Y., as a standalone affiliate of Arch Insurance Group after the acquisition.
Building on a 17-year partnership, this acquisition will provide mutual benefit to both parties, according to a McNeil press release. With more than $11 billion in capital, Arch will provide McNeil with new opportunities to achieve scale and grow its business through additional products and resources, delivered through McNeil’s existing platform and distribution system.
Sherman & Company LLC served as financial advisor to Arch on the transaction.
Source: Arch Capital Group Ltd, McNeil & Co.
Topics Mergers & Acquisitions New York
Was this article valuable?
Here are more articles you may enjoy.
Why El Niño’s Promise of Quieter Hurricane Season May Not Be Good News for Insurers 
Lemonade Posts $43M Loss for Q2 as it Continues to Grow Customer Base 
Brown & Brown Estimates Cost of Howden-Driven Talent War Could Hit $60M in 2026 
Mapfre to Acquire Safety Insurance for $1.54 Billion in Cash Deal 
