Broker/Company results
Is the Aon–NFP deal a sign of mega broking M&A to come?
Content Director's View: Jonathan Swift reflects on the recent record broking deal between Aon and NFP, and asks whether the $13.4bn (£10.5bn) price tag will be beaten by another acquisition in 2024.
Jensten reveals £36m cost for four deals in 2021 financial year
Jensten Group has posted a £13.57m post-tax loss for the year ended 31 March 2021 as turnover rose 24% to £21.44m.
GRP holdco sets baseline for Searchlight era with inaugural £42m operating profit
Global Risk Partners’ holding company GRP (Jersey) Holdco has posted turnover of £128.8m in its first set of annual results.
A-Plan posts rising Ebitda and stable turnover
A-Plan has reported a 5% rise in Ebitda to £36.3m with turnover of £109.4m for the year ended 28 February 2021.
Graham Wright heads to Saga from WTW in pricing director role
Graham Wright has been named Saga Insurance pricing director, joining from Willis Towers Watson.
PIB deals cost £92.8m in 2020
The cost of buying eight businesses and three books of business totalled £92.8m in 2020 for PIB Group, a filing at Companies House has revealed.
Ardonagh adds £900m to firepower as Ebitda rises and losses narrow
Ardonagh has posted a 33.4% rise in income and a 42.4% increase in Ebitda for the first half of 2021.
Somerset Bridge Group posts loss but rising Ebitda ahead of sale
Somerset Bridge Group has reported a loss after tax of £42.4m for the year ended 31 December 2020 ahead of being snapped up by Bermuda reinsurer Arch Re.
Covid-19 pandemic drives Biba turnover down 36%
The British Insurance Brokers’ Association’s turnover fell by 36% in 2020, however, funds ticked up slightly to just over £4m in the period.
Ardonagh recouped £22.75m from Bennetts sale
Ardonagh's first quarter results have revealed it was paid £22.75m for Bennetts, structured through a £1 sale price and the settlement of Bennetts' debt owed to the group.
Ardonagh boss David Ross hits out at CMA Bennetts decision
Ardonagh was “really surprised and disappointed by the approach that was taken” by the Competition and Markets Authority as it blocked the firm buying Bennetts, CEO David Ross has declared.
Big four brokers post organic growth during pandemic hit 2020
The 2020 results from Aon, Gallagher, Marsh and Willis Towers Watson showed the big four still delivering global organic growth despite the impact of the Covid-19 crisis, though in some cases figures for Europe, the Middle East and Africa units showed…
Interview: Rob Gibbs, RSA
Having worked at RSA for more than two decades, commercial managing director Rob Gibbs has certainly seen his fair share of the business, both in the UK and overseas. He speaks to Jonathan Swift about his latest challenge, navigating a newly combined…
Allianz BI claims came from broker wordings says CEO Jon Dye as insurer reveals 2020 results
Allianz was hit by £175m of UK Covid-19 business interruption claims in 2020, net of reinsurance, the insurer has said, as LV confirmed 300 redundancies from its Legal & General integration.
Howden ready to buy again with £500m of firepower
Howden Group has a £500m warchest for acquisitions and investments, CEO David Howden told Post as the firm reported 6% organic growth in 2020.
Video Q&A: Aviva GI leadership team – Phil Bayles, Gareth Hemming, Colm Holmes and Patrick Tiernan
At this year’s British Insurance Awards Aviva scooped a quartet of awards including General Insurer of the Year.
Brightside to put MGA Kitsune into run-off
Brightside has decided to put car and van managing general agent Kitsune into run-off less than two years after it was launched, CEO Brendan McCafferty has revealed.
Big three brokers' Q3 results hold steady in face of Covid-19
The financial performance of the world’s three largest broking firms held steady in the third quarter of 2020 leading executives to hail strong results achieved in spite of the pressures of the Covid-19 pandemic.
Bought by Many confirms name change outside of the UK
Pet insurance provider Bought by Many will be changing its branding to Many Pets in markets outside of the UK, chief financial officer Luisa Barile told Post.
Refinancing costs bite as Ardonagh losses more than double and income drops
Ardonagh has reported a post-tax loss of £94.1m for the first six months of 2020 more than double the £41.8m deficit in the same period of last year.
Profit shrinks at Arron Banks’ Somerset Bridge
Pre-tax profit at Arron Banks’ personal lines broker Somerset Bridge Insurance Services fell to £5.04m in 2019, down from £6.54m the previous year.