White Mountains to acquire majority stake in Distinguished Programs

By Chris Munro

July 7 - (The Insurer) - White Mountains Insurance Group is set to acquire a majority stake in Distinguished Programs after agreeing to buy approximately 50% of the MGA and program administrator's outstanding equity interests for $230 million.

The transaction will build on Bermuda-based White Mountains’ approximately 1% existing holding in Distinguished’s outstanding equity interests.

Distinguished’s current controlling equity holder Aquiline Capital Partners will retain a significant minority stake in the business following completion of the deal.

Distinguished's current executive management team, which includes company leaders Bill Malloy, Jason Rotman and Steve Sitterly, will also remain significant equity holders.

More to follow…