The increase reflects a variety of factors, including the Federal Reserve's continuing fight against inflation, last month’s downgrade of U.S. The fresh 7.42 percent represents the highest level since December 2000, according to Bankrate data. The average rate on 30-year mortgages rose to 7.42 percent this week, up from 7.32 percent last week, according to Bankrate’s weekly national survey of large lenders. Mortgage industry insights Mortgage rates rise, borrower activity falls In addition, though we strive to make our listings as current as possible, check with the individual providers for the latest information. Our site has comprehensive free listings and information for a variety of financial services from mortgages to banking to insurance, but we don’t include every product in the marketplace. Our advertisers do not compensate us for favorable reviews or recommendations. However, this compensation in no way affects Bankrate’s news coverage, recommendations or advice as we adhere to strict Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. In exchange for placement of sponsored products and services, or when you click on certain links posted on our site. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.īankrate is an independent, advertising-supported publisher and comparison service. Our experts have been helping you master your money for over four decades. A higher level of sales, strategic investments, and sufficient liquidity should help shares retain the momentum.You have money questions. Shares of Athene have gained 95.3% year to date compared with the industry’s 1.6% increase. BRO’s solid earnings have allowed it to expand its capabilities, with the buyouts extending its geographic footprint. Brown & Brown intends to make consistent investments in boosting organic growth and margin expansion. The insurance broker estimates more than $2.5 billion for mergers and acquisitions consisting of $1 billion in cash, about $650 million of net cash generation in the second half of 2021, and $600 million to $700 million of borrowing capacity.īrown and Brown acquired Heacock Insurance to boost its presence in central Florida. AJG’s merger and acquisition pipeline is quite strong with about $400 million revenues associated with nearly 50 term sheets either agreed upon or being prepared. Gallagher boasts an impressive inorganic story. acquired Real Estate Insurance Solutions to consolidate its real estate portfolio. BRO are pursuing strategic mergers and acquisitions. Given the insurance industry’s adequate capital level, players like Arthur J. This Zacks Rank #2 (Buy) insurer expects that its inorganic growth channel will continue to be an important driver in the future. The recent acquisition is thus a strategic fit for Athene.Īthene boasts an impressive inorganic growth, which has been driven by several buyouts and block reinsurance transactions with several companies. The strategic partnership helps Athene access APO’s portfolio origination platform that provides ATH assets with better spreads. Apollo currently holds 34% stake in Athene. Per Jim Belardi, chief executive officer of Athene, “Aqua Finance is an exciting opportunity for Athene to invest in a leading consumer finance platform, to provide capital and expertise to continue to grow the business, and to execute on our strategy with Apollo to invest in high-quality origination platforms.”Īthene and Apollo have shared a partnership since the former was established in 2009. The addition of Aqua Finance will boost Apollo’s $80 billion annual run-rate of asset origination across commercial and consumer lending platforms. Aqua Finance estimates originations to reach $2 billion in 2021. Aqua Finance has doubled its annual loan originations since 2018 when Blackstone first invested in the company. Wisconsin-based Aqua Finance is a fast-growing consumer lending platform, originating and servicing consumer loans primarily for home improvement and water treatment. Apollo will manage the investment on behalf of Athene. Pending the fulfillment of closing conditions, the transaction is expected to see the light of day in the first half of 2022.īlackstone will continue to have a minority interest in Aqua Finance. Athene Holdings ATH and Apollo Global Management APO have agreed to buy a majority interest in Aqua Finance for $1 billion from Blackstone Tactical Opportunities.
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