20 May, 2024
1 min read

Insurance broker Acrisure eyes over $20 billion valuation in 2024 IPO

June 16 (Reuters) – Insurance broker Acrisure LLC aims to be valued at over $20 billion and is interviewing banks to go public next year, Bloomberg News reported on Friday, citing people with knowledge of the matter.

The Michigan-based company offers financial, cyber as well as asset and wealth management services to its customers in insurance, reinsurance and real estate services and was valued at $23 billion last year.

Deliberations are ongoing and no final decisions on the size or timing of an IPO have been taken, the report said, adding that Acrisure could also opt to stay private.

Acrisure did not immediately respond to a Reuters request for comment.

Public capital markets are seeing a resumption in IPOs in the United States after a year-long standstill, as worries of a recession wane and investors warm up to riskier batches.

Adding to the thaw in IPO markets, Mediterranean restaurant chain Cava Group surged 89% when it debuted on Thursday and grabbed a valuation of $4.7 billion.

Last month, Johnson & Johnson’s consumer health business, Kenvue, completed the largest IPO since Rivian Automotive’s listing in 2021. (Reporting by Mehnaz Yasmin in Bengaluru; Editing by Maju Samuel)

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