After the sale, MassMutual will continue to hold a majority position in Barings, maintaining an 82% stake and full governance control.
Envoy Insure will integrate CyberCube’s Broking Manager APIs into its quoting platform.
The company’s operating profit for the period increased by 12.6% to $5.1bn (€4.4bn), compared to €3.9bn a year earlier.
The growth in earnings was mainly attributed to improved underwriting results within the company’s P&C reinsurance segment.
