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Charles Monat, life insurance broker for the wealthy, said to consider sale of biz — Bloomberg

Tan KW
Publish date: Thu, 10 Oct 2024, 03:23 PM
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 Charles Monat Associates Ltd, a global life insurance broker for high-net-worth individuals, is exploring a sale of the business amid interest from prospective investors, according to people familiar with the matter.

Charles Monat is working with a financial adviser on a potential disposal that could value it at US$400 million to US$500 million, the people said, asking not to be identified because the matter is private. The closely held company, which is owned by its management and counts Willis Towers Watson Plc as a strategic partner, has attracted takeover interest from buyers, including private equity firms, the people said.

Considerations are ongoing and the company may still decide against pursuing a transaction, the people said.

A representative for Charles Monat said the company has been approached by potential investors over the years, and that it continues to assess the best options, though there was nothing specific to share at this time.

Founded in Hong Kong in 1971, Charles Monat has expanded to Singapore, Malaysia, Dubai, the US, and Switzerland, providing services such as legacy planning. It works with private banks, financial management firms, and insurers.

Charles Monat is the chairman and founder of the firm. Its management led a buyout of Willis Towers Watson’s global wealth solutions business in May 2017. 

 


  - Bloomberg

 

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