Initial Public Offering (IPO)
DLG 'essentially' operating as a standalone business, claims Geddes
Direct Line Group chief executive Paul Geddes believes the business has "essentially achieved its goal" of operating as a standalone company, following the news it has set a return on tangible equity target of 15%.
Direct Line flotation is imminent
Direct Line Group's initial public offering could launch in a "matter of weeks".
ING considers European IPO
Dutch insurance group ING is contemplating an initial public offering for its European insurance businesses, the firm's chairman said this week.
Geddes unmoved by PE takeover talk as DLG divestment date looms
Direct Line Group chief executive Paul Geddes has distanced himself from speculation linking the business with a private equity-backed divestment, insisting that his focus remains on securing a second-half public flotation.
DLG's ambition to float in doubt amid reports of PE bids
The Direct Line Group's plans to float have been put in jeopardy, according to reports claiming that two private equity consortiums could launch rival bids for the business.
Post magazine - 28 June 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Flotation deemed 'only option' for Direct Line Group divestment
Analysts have rubbished recent claims that Direct Line Group could be bought by a private equity house, stating that the insurer has to go ahead with the planned initial public offering to obtain the best price and appease UK taxpayers and the European…
3i reaffirms Hyperion commitment amid rumours of cut-backs
Hyperion private equity backer 3i has brushed aside suggestions that it may abandon the international insurance intermediary group, following rumours of cost-cutting at the firm.
PICC may delay listing owing to market turmoil
Reports suggest that state-owned insurer PICC Group will delay listing on the Hong Kong stock exchange until October due to difficult market conditions.
Interview: Damien Coates - the wizard of Oz
Charged with realising Hyperion's ambitions on the underwriting side, Damien Coates is a whirlwind of energy, keen to replicate his success around the world - although he may regret a marathon pact he made with marketing manager Marion May.
Travelers considers stake in Esure
Travelers is reported to be in preliminary talks with Esure about buying a stake in the UK home and motor insurer.
Hyperion sets sights on US consolidators after £95m buy
Hyperion chief executive David Howden has vowed to make a swift return to the acquisition trail following its £95m takeover of Lloyd's broker Windsor last Friday - the group's largest deal to date - thus creating a "credible alternative" to the new wave…
Revenue rises 50% for newly listed Allanfield
Real estate broker Allanfield has reported a 50.7% rise in revenue to £2.28m (2010: £1.51m) in its first set of results since listing on the Alternative Investment Market in August.
Hyperion IPO to reach 'critical mass'
Hyperion's acquisition of Windsor will boost the international broker's chances of a successful IPO, analysts have said.
Hyperion IPO or sale in next two years, analysts predict
Panmure Gordon analysts have said that an IPO or trade sale of Hyperion is likely in the "next year or two".
Next phase of DLG float underway as UBS appointed to advise
UBS has been appointed to advise on RBS' sale of its Direct Line Group insurance arm, with the bank acting as joint bookrunners with Goldman Sachs and Morgan Stanley.
Hyperion IPO likely in late 2013, BP Marsh boss says
The chairman of venture capitalist BP Marsh, which has a 19.4% stake in Hyperion, said it is unlikely the insurance business will float until after Q2 2013 and warned the firm to wait until economic conditions improve.
Confusion surrounds Goldman Sachs' commitment to $6bn Chinese insurer listing
The $6bn listing of the state-owned People's Insurance of China has taken on a new twist as bankers gear up for an increasingly taxing deal, it has been reported.
Giles hails "peer-beating" 15% rise in 2011 operating earnings as IPO is rejected
Giles CEO Brendan McManus has categorically ruled out an initial public offering as the consolidator today reported a 15% increase in EBITDA to £24m (2010: £21m) on turnover of £81m (2010: £70m) for the full year to 31 August 2011.
Direct Line Group to pay shareholders £500m dividend
Direct Line Group directors have declared an interim dividend in an aggregate amount of £500m.
Geddes eyes imminent job function separation as RBS divestment gathers momentum
Direct Line Group chief executive Paul Geddes remains confident that group separation will be achieved on schedule after announcing that job functions at the business will be operating on a standalone basis by the summer.
Market divided as to favourability of current conditions for IPOs
Market players credited with an interest in launching initial public offerings inside the next two years have been warned against attempting to float amid unfavourable conditions, where value is at rock bottom.
Post magazine - 3 May 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
India's GIC Re considering IPO
General Insurance Corp of India is believed to be considering an initial public offering.