Subsequent Events |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
SUBSEQUENT EVENTS
The Company has evaluated subsequent events through February 21, 2025, and has concluded that no events have occurred
that require disclosure other than the events listed below.
On February 3, 2025, the Company completed the acquisition of Velocity Risk Underwriters, LLC, an MGU specializing
in first-party insurance coverage for catastrophe exposed properties headquartered in Nashville, Tennessee, for
approximately $525.0 million cash consideration, subject to customary purchase price adjustments. This acquisition will
include contingent consideration in its final purchase price, however, the Company has not yet completed the valuation of
the contingent consideration or the purchase price allocation to the acquired assets and assumed liabilities as of the date of
this filing.
On February 20, 2025, the Company’s Board of Directors declared a regular quarterly cash dividend of $0.12 per share of
outstanding Class A common stock. The regular quarterly dividend will be paid on March 18, 2025, to shareholders of
record of Class A common stock as of the close of business on March 4, 2025. Any future dividends will be subject to the
approval of the Company’s Board of Directors.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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