(Reuters) — Insurance broker Acrisure LLC is aiming to be valued at more than $20 billion and is interviewing banks to go public next year, Bloomberg News reported on Friday, citing people with knowledge of the matter.
The Michigan-based company offers financial, cyber and asset and wealth management services to its insurance, reinsurance and real estate services clients and was valued at $23 billion last year.
Discussions are ongoing and no final decisions on the size or timing of an IPO have been made, the report said, adding that Acrisure could also choose to remain private.
Acrisure did not immediately respond to a Reuters request for comment.
Public capital markets are seeing a resumption of U.S. IPOs after a year-long standstill, as fears of a recession ease and investors warm to riskier ventures.
Mediterranean restaurant chain Cava Group soared 89% in its debut on Thursday, valuing it at $4.7 billion to add to the bellwether of the IPO markets.
Last month, Johnson & Johnson̵7;s consumer health business, Kenvue, completed the largest IPO since Rivian Automotive’s 2021 IPO.