Carlyle funds buy NSM in £1.44bn deal
White Mountains Insurance Group has signed a definitive agreement to sell NSM Insurance Group to investment funds affiliated with global investment firm Carlyle the former majority backers of PIB Group.
The transaction values NSM at $1.77bn (£1.44bn). NSM’s portfolio of UK brokers includes the likes of Kingfisher and Kingsbridge.
White Mountains is a Bermuda-domiciled financial services holding company traded on the New York Stock Exchange and the Bermuda Stock Exchange.
Manning Rountree, chief executive officer of White Mountains, commented: “The NSM team has done a tremendous job building a market-leading specialty insurance distribution platform. It has been our pleasure to partner with
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