Private equity firm and PIB backer The Carlyle Group has bought a majority stake in Sedgwick for $6.7bn (£5.15bn).
The deal sees previous majority shareholder KKR, an investor in Ardonagh Group, exit the business.
Funds managed by Stone Point Capital and Caisse de dépôt et placement du Québec – which recently took a “significant minority stake” in Hyperion for £298m – and Sedgwick management remain minority investors.
US headquartered Sedgwick handles more than 3.6 million claims a year with
- CBL Insurance placed into liquidation
- Marsh unveils Marsh-JLT Specialty plans
- Gallagher set to ink another deal before Christmas
- Top 100 2018: Find out who made the list
- Up to 50 jobs at risk amid RSA specialty and wholesale restructure
- Fresh founder Lisa Powis rejoins insurance sector with tech business
- Broker Choice Awards: The winners