(Bloomberg) — Charles Monat Associates Ltd., a worldwide life insurance coverage dealer for high-net-worth people, is exploring a sale of the enterprise amid curiosity from potential buyers, in line with individuals acquainted with the matter.
Charles Monat is working with a monetary advisor on a possible disposal that would worth it at $400 million to $500 million, the individuals mentioned, asking to not be recognized as a result of the matter is non-public. The intently held firm, which is owned by its administration and counts Willis Towers Watson Plc as a strategic companion, has attracted takeover curiosity from consumers together with non-public fairness companies, the individuals mentioned.
Concerns are ongoing and the corporate should still determine in opposition to pursuing a transaction, the individuals mentioned.
A consultant for Charles Monat mentioned the corporate has been approached by potential buyers through the years and that it continues to evaluate the perfect choices, although there was nothing particular to share right now.
Based in Hong Kong in 1971, Charles Monat has expanded to Singapore, Malaysia, Dubai, the US and Switzerland, offering providers resembling legacy planning. It really works with non-public banks, monetary administration companies and insurers.
Charles Monat is the chairman and founding father of the agency. Its administration led a buyout of Willis Towers Watson’s international wealth options enterprise in Could 2017.
