Yahoo Finance Onex Partners completes acquisition of Accredited
TORONTO, June 28, 2024 (GLOBE NEWSWIRE) -- Accredited, a leading global P&C program manager, is pleased to confirm the successful completion of its acquisition by Onex Partners.
Accredited will now operate as an independent program management company providing A- rated (AM Best) insurance capacity in Europe, the UK and the US. Accredited writes more than $2.1 billion of gross premium and partners with MGAs on over 70 programs.
William Spiegel, CEO of Accredited, commented:
“As an independent platform, we will continue to partner with best-in-class MGAs and reinsurers, supported by our global scale, strong balance sheet and A- AM Best financial strength rating. Our strategy remains unchanged; we will focus on supporting the growth of our MGA partners and delivering high quality, diversified business to our reinsurance partners.”
Adam Cobourn, Managing Director at Onex Partners, said:
“Accredited has established itself as a leading program manager with a differentiated transatlantic footprint, a well-diversified and high-quality book of business, deep reinsurer relationships and robust underwriting and risk management protocols. We look forward to partnering with Accredited’s management and employees to strengthen and grow the business. As an independent company, Accredited will be well positioned for responsible growth with a strong balance sheet and backing from Onex Partners.”
Media Contact
tom.blackwell@fticonsulting.com / +44 (0)7747 113 919
About Accredited
Accredited is a leading P&C program manager operating across Europe, the UK and the US, providing A- rated insurance capacity (AM Best) across all P&C classes.
About Onex
Onex invests and manages capital on behalf of its shareholders and clients across the globe. Formed in 1984, we have a long track record of creating value for our clients and shareholders. Our investors include public and private pension plans, sovereign wealth funds, insurance companies, family offices and high net-worth individuals. Onex has $50.9 billion in assets under management, of which $8.4 billion is its own investing capital. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms. Onex is listed on the Toronto Stock Exchange under the symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedarplus.ca.
Onex Contact
Jill Homenuk
Managing Director – Shareholder
Relations and Communications
Tel: +1 416.362.7711
