Private equity firm Aquiline Capital Partners LLC, which is run by Jeffrey Greenberg, said Tuesday it agreed to buy insurance services provider Conning & Co. from Swiss Reinsurance Co. Ltd.
Terms of the deal were not disclosed.
Hartford, Connecticut-based Conning will use Aquiline’s investment to strengthen its infrastructure, add to its services, acquire talent and pursue strategic opportunities.
Conning has about $70 billion of general account assets under management and $100 billion of total assets under contract.
New York-based Aquiline invests in financial services companies including property and casualty insurance, asset management and life insurance.
Greenberg, who had been chief executive of insurance broker Marsh & McLennan Cos Inc, is the son of former American International Group Inc. Chief Executive Maurice “Hank” Greenberg.
Aquiline was advised by boutique merchant banking firm SFRi LLC. Sullivan & Cromwell LLP acted as legal counsel and Berkshire Capital Securities LLC acted as financial adviser.
(Reporting by Paritosh Bansal; Editing by Phil Berlowitz)
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
‘Massive Legal Siege’ Against Social Media Companies Looms 
Old Republic to Acquire Small Farmowner Insurer Everett Cash Mutual 
The Future of the Agency in a World of AI 
Florida Jury Awards Jack Nicklaus $50M in Defamation Suit vs. His Former Company 
